Paragraph 4

(1)

Paragraph 10Q (application for account freezing order) is amended as follows.

(2)

In sub-paragraph (1), for “bank or building society” substitute “ relevant financial institution ”.

(3)

After that sub-paragraph insert—

“(1A)
In this Part of this Schedule, “relevant financial institution” means—
(a)
a bank,
(b)
a building society,
(c)
an electronic money institution, or
(d)
a payment institution.”

(4)

In sub-paragraph (7), at the appropriate places insert—

““electronic money institution” has the same meaning as in the Electronic Money Regulations 2011 (S.I. 2011/99) (see regulation 2 of those Regulations);””, and

““payment institution” means an authorised payment institution or a small payment institution (each as defined in regulation 2 of the Payment Services Regulations 2017 (S.I. 2017/752));”.