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

Interpretation of the 1995 Order

489.—(1) Article 12 of the Local Authorities (Companies) Order 1995 (interpretation) is amended as follows.

(2) In paragraph (2) of that article for the definition of “relevant lender”(1) substitute—

““relevant lender” means—

(a)

the Public Works Loan Board,

(b)

the Bank of England,

(c)

the European Investment Bank,

(d)

a body mentioned in any of paragraphs 1 to 17, or in paragraph 28 or 29, of Part II of the Schedule to the Local Authorities (Capital Finance) (Approved Investments) Regulations 1990,

(e)

a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits, or

(f)

an EEA firm or 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 of that Schedule) to accept deposits.”.

(3) After paragraph (2) of that article insert—

“(3) Sub-paragraphs (e) and (f) of the definition of “relevant lender” in paragraph (2) 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.”.

(1)

The definition of “relevant lender” was inserted into paragraph (2) of article 12 by S.I. 1996/621, article 3.