Article 198 Definition of “institution” and “deposit”I1

Section 107 of the Building Societies Act 1986^f1 (restriction of use of certain names and descriptions) is amended as follows.

For subsection (12)^f2 substitute—

“(12)

In this section—

• “deposit” must be read with—

  1. (a)

     section 22 of the Financial Services and Markets Act 2000;

  2. (b)

     any relevant order under that section; and

  3. (c)

     Schedule 2 to that Act;

• “institution” means—

  1. (a)

     a body corporate wherever incorporated;

  2. (b)

     a partnership formed under the law of any part of the United Kingdom;

  3. (c)

     a partnership or other unincorporated association of two or more persons formed under the law of a member State other than the United Kingdom.”.