OpenLegislation

Paragraph 2

Original text. Later amendments are not shown.

(1)

Article 2 (interpretation) is amended as follows.

(2)

In paragraph (2)—

(a)

in the definition of “authorised bank”, in paragraph (a), for “Part 4” substitute “Part 4A”;

(b)

omit the definition of “the Authority”;

(c)

at the appropriate places, insert—

  • ““the appropriate authority” means—

    1. (a)

      in relation to a credit union which is a PRA-authorised person, the PRA; and

    2. (b)

      in relation to a credit union which is not a PRA-authorised person, the FCA;”;

  • ““the FCA” means the Financial Conduct Authority;”;

  • ““the PRA” means the Prudential Regulation Authority;”; and

  • ““PRA-authorised person” has the meaning in section 2B of the 2000 Act;”.