The Financial Services and Markets Act 2000 (Consequential Amendments) (Taxes) Order 2001

Interpretation: meaning of “bank”

46.—(1) Amend section 840A (meaning of bank) as follows.

(2) In subsection (1) for paragraphs (b) and (c) substitute—

“(b) a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits other than—

(i) a building society within the meaning of the Building Societies Act 1986,

(ii) a friendly society within the meaning of section 116 of the Friendly Societies Act 1992(1),

(iii) a society registered as a credit union under the Industrial and Provident Societies Act 1965(2) or the Credit Unions (Northern Ireland) Order 1985(3), or

(iv) an insurance company within the meaning of section 659B(1);

(c) an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to the Financial Services and Markets Act 2000 which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12(1) of that Schedule) to accept deposits;”.

(3) Omit subsection (2).

(1)

1992 c. 40.

(2)

1965 c. 12.

(3)

S.I. 1985/1205 (N.I. 12).