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62. In regulation 25(1) (client accounts) of the Conduct of Employment Agencies and Employment Businesses Regulations 2003(1) for the definition of “credit institution” substitute—
““credit institution” means a credit institution as defined in Article 4(1)(1) of Regulation (EU) No. 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No. 648/2012, that is to say, an undertaking whose business is to receive deposits or other repayable funds from the public and to grant credits for its own account;”.
S.I. 2003/3319. Regulation 25(1) was amended by S.I. 2006/3221 and S.I. 2011/99.
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