PART 9 AMENDMENTS TO SECONDARY LEGISLATION

The Social Landlords (Permissible Additional Purposes or Objects) Order 1996 (S.I. 1996/2256)

535 Interpretation of the 1996 Order
Article 2 of the Social Landlords (Permissible Additional Purposes or Objects) Order 1996 (interpretation) is amended is follows—
(a) the existing provision becomes paragraph (1);
(b) the definitions of “bank” and “insurance company” are revoked;
(c) for the definition of “qualifying lending institution” substitute—

““qualifying lending institution” means—
(a) the Corporation;
(b) a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits or to effect or carry out contracts of insurance; or
(c) an EEA firm of the kind mentioned in paragraph 5(b) or (d) 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) either—
(i) to accept deposits; or
(ii) to effect or carry out contracts of insurance;”

;
(d) after paragraph (1) insert—

“2 The definition of “qualifying lending institution” in paragraph (1) 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.”

.