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14.—(1) The Investment Services Regulations 1995(1) are amended as follows.
(2) In regulation 2(1):
(a)after the definition of “the Bank”, there is inserted:
““the Banking Consolidation Directive” means Directive 2000/12/EC of the European Parliament and of the Council of 20 March 2000 relating to the taking up and pursuit of the business of credit institutions;”;
(b)in the definition of “credit institution”, for “First Council Directive” there is substituted “Banking Consolidation Directive”;
(c)in the definition of “European authorised institution”, for “the First Council Directive and the Second Council Directive” there is substituted “the Banking Consolidation Directive”; and
(d)the definitions of:
(i)“the First Council Directive”; and
(ii)“the Second Council Directive”
are omitted.
(3) In regulation 2, after paragraph (1) there is inserted the following paragraph:
“(1A) Any reference in these Regulations to the Second Council Directive shall be construed as a reference to the Banking Consolidation Directive, and shall be read in accordance with the correlation table in Annex VI to the Banking Consolidation Directive.”;
and paragraph (2B) is omitted.
Commencement Information
I1Reg. 14 in force at 22.11.2000, see reg. 1
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