581.—(1) Article 3 of the Social Landlords (Additional Purposes or Objects) Order 1999 (priority of mortgages) is amended as follows.
(2) In paragraph (3), for the definition of “qualifying lending institution” substitute—
““qualifying lending institution” means—
the Corporation;
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
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—
to accept deposits; or
to effect or carry out contracts of insurance;”;
(3)after paragraph (3) insert—
“(4) The definition of “qualifying lending institution” in paragraph (3) 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.”.