In paragraph (1) of regulation 3 of the Insolvency Regulations (Northern Ireland) 1996 (interpretation and application), for the definition of “bank” substitute—

““bank” 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;”.