Paragraph 14 Other definitions

In this Schedule,

• “banking services” has the meaning which it bears in Schedule 8 to the Act^f1;

• “equity share capital” has the meaning which it bears for the purposes of the Companies Act 1985^f2 or the Companies (Northern Ireland) Order 1986^f3;

• “estate agency work” has the meaning which it bears in the Estate Agents Act 1979^f4;

• “facility account” has the meaning which it bears in the Building Societies (Limited Credit Facilities) Order 1987^f5;

• “insurance services” has the meaning which it bears in Schedule 8 to the Act;

• “investment”, in respect of the expression “market maker”, means any asset, right or interest falling within any paragraph in Part I of Schedule 1 to the Financial Services Act 1986^f6;

• “investment services” has the meaning which it bears in Schedule 8 to the Act;

• “land services” has the meaning which it bears in Schedule 8 to the Act;

• “market maker” means–

  1. (a)

     in relation to the United Kingdom, a market maker in securities of a particular kind,

  2. (b)

     in relation to any country or territory outside the United Kingdom, a person who holds himself out at all normal times as willing to buy and sell at a price specified by him investments of a particular kind which are traded on any exchange in that country or territory;

• “market maker in securities of a particular kind” means a person who, for the purposes of section 67(4) (depositary receipts) of the Finance Act 1986^f7, is so described in section 69(7) (depositary receipts: supplementary) of that Act;

• “mortgage finance rights” has the meaning which it bears in Section A of Part II of Schedule 1 to the Building Societies (Commercial Assets and Services) Order 1988^f8; “pension scheme” means–

  1. (a)

     a retirement benefits scheme within the meaning of, and which is approved or a candidate for approval by the Commissioners of Inland Revenue for the purposes of, Chapter I of Part XIV of the Income and Corporation Taxes Act 1988^f9 (retirement benefit schemes), or

  2. (b)

     a personal pension scheme within the meaning of and which is approved or a candidate for approval by the Commissioners of Inland Revenue under, Chapter IV (personal pension schemes) of that Part of that Act;

• “relevant investment business” means investment business relating to investments falling within–

  1. (a)

     any paragraph other than paragraph 10 (long term insurance contracts) or 11 (rights and interests in investments) of Part I of Schedule 1 to the Financial Services Act 1986^f10, or

  2. (b)

     paragraph 11 of that Part of that Schedule so far as it is not related to paragraph 10 of that Part of that Schedule; and

• “subsidiary” and “subsidiary undertaking” have the meanings which they respectively bear in section 119 of the Act^f11.