PART 8MISCELLANEOUS AMENDMENTS TO PRIMARY LEGISLATION
Trustee Savings Banks Act 1985 (c. 58)
Transferees to be treated as included within certain categories of institution297
1
Paragraph 11 of Schedule 1 to the Trustee Savings Banks Act 1985 (status of transferees as authorised institutions for certain purposes) is amended as follows.
2
In sub-paragraph (4)(b)222, for “an institution authorised under the Banking Act 1987” substitute “a deposit-taker”.
3
After that sub-paragraph, insert—
4A
“Deposit taker” means—
a
a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits; or
b
an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to that Act 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 or other repayable funds from the public.
4B
But a person is not a deposit-taker if he has permission to accept deposits only for purpose of carrying on another regulated activity in accordance with that permission.
4C
Sub-paragraphs (4A) and (4B) must be read with—
a
section 22 of the Financial Services and Markets Act 2000;
b
any relevant order under that section; and
c
Schedule 2 to that Act.