Part 16Income Tax Acts definitions etc
Chapter 1Definitions
991Meaning of “bank”
1
This section has effect for the purposes of the provisions of the Income Tax Acts which apply this section.
2
“Bank” means—
a
the Bank of England,
b
a person who has permission under F2Part 4A of FISMA 2000 to accept deposits (but see subsection (3) for exclusions),
F5c
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
d
the European Investment Bank, and
e
an international organisation designated as a bank for the purposes of this section by an order made by the Treasury.
3
The reference to a person who has permission under F3Part 4A of FISMA 2000 to accept deposits does not include—
a
a building society,
b
a society registered within the meaning of the Friendly Societies Act 1974 (c. 46) or incorporated under the Friendly Societies Act 1992 (c. 40),
c
a society registered as a credit union under F4the Co-operative and Community Benefit Societies Act 2014 or the Credit Unions (Northern Ireland) Order 1985 (S.I. 1985/1205 (N.I. 12)), or
d
an insurance company within the meaning of section 275 of FA 2004.
4
The Treasury may designate an international organisation for the purposes of this section only if the United Kingdom is a member of the organisation.
F15
An order under subsection (2)(e) may include provision for a designation to have effect only in relation to the application of this section by a provision specified in the order.