{
  "url": "https://openlegislation.uk/banking-act-1987-repealed/section-74",
  "json_url": "https://openlegislation.uk/banking-act-1987-repealed/section-74.json",
  "legislation": "ukpga/1987/22",
  "legislation_title": "Banking Act 1987 (repealed)",
  "legislation_url": "https://openlegislation.uk/banking-act-1987-repealed",
  "path": "section/74",
  "kind": "section",
  "number": "74",
  "heading": "Meaning of “overseas institution” and “representative office”.",
  "text": "(1) In this Part of this Act “overseas institution” means a person (other than an authorised institution or any person for the time being specified in Schedule 2 to this Act) who—\n(a) is a body corporate incorporated in a country or territory outside the United Kingdom or a partnership or other unincorporated association formed under the law of such a country or territory; or\n(b) has his principal place of business in such a country or territory,\nbeing, in either case, a person who satisfies one of the conditions mentioned in subsection (2) below.\n(2) The conditions referred to in subsection (1) above are—\n(a) that the person’s principal place of business is outside the United Kingdom and the person is authorised by the relevant supervisory authority in a country or territory outside the United Kingdom;\n(b) that the person describes himself or holds himself out as being authorised by such an authority in a country or territory outside the United Kingdom;\n(c) that the person uses any name or in any other way so describes himself or holds himself out as to indicate or reasonably be understood to indicate (whether in English or any other language), that he is a bank or banker or is carrying on a banking business (whether in the United Kingdom or elsewhere).\n(3) In this Part of this Act “representative office”, in relation to any overseas institution, means premises from which the deposit-taking, lending or other financial or banking activities of the overseas institution are promoted or assisted in any way; and “establishment”, in relation to such an office, includes the making of any arrangements by virtue of which such activities are promoted or assisted from it.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "C",
      "label": "C1",
      "text": "S. 74 amended (1.1.1993) by S.I. 1992/3218, reg. 47, Sch. 8 para.21."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1987/22/section/74",
    "retrieved_at": "2026-10-29T09:52:41.355387+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}