PART 2Amendment of Primary Legislation, Scottish Legislation and Northern Ireland Legislation
Banking Act 20097
1
The Banking Act 2009 is amended as follows.
2
In section 48D(1)18 (general interpretation of section 48B)—
a
omit the definition of “investment firm”;
b
in the definition of “credit institution”, for “(23)” substitute “(24)”
.
3
After section 48D(2) insert—
2A
The definition of “investment firm” in section 258A19 applies for the purposes of section 48B but for these purposes—
a
any exclusions made under the power conferred by subsection (2)(b) of section 258A are to be ignored; and
b
an institution is to be treated as falling within the definition only if it has permission to carry on the investment services and activities in point 3 or 6 of Part 3 of Schedule 2 to the Financial Services and Markets Act 2000 (Regulated Activities) Order 200120.
4
In section 89JA21 (resolution of UK branches of third-country institutions), in the table of further modifications in subsection (11), in the entry in column 2 relating to section 60(3)(c), for “third country” substitute “country or territory outside the United Kingdom”
.