{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-and-repeals-order-2001/article-232",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-and-repeals-order-2001/article-232.json",
  "legislation": "uksi/2001/3649",
  "legislation_title": "The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-and-repeals-order-2001",
  "path": "article/232",
  "kind": "article",
  "number": "232",
  "heading": "Definition of “recognised financial institution”",
  "text": "(1) Section 19 of the Law Reform (Miscellaneous Provisions) (Scotland) Act 1990 (executry services by recognised financial institutions) is amended as follows.\n(2) For subsection (2) substitute—\n“(2) In this section “recognised financial institution” means—\n(a) any person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits;\n(b) an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to that Act which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to accept deposits;\n(c) any subsidiary (as defined by section 736(1) of the Companies Act 1985) of a body falling within paragraph (a) or (b) above whose business or any part of whose business consists of the provision of executry services.”.\n(3) After subsection (2) insert—\n“(2A) The definition of “recognised financial institution” in subsection (2) above must be read with—\n(a) section 22 of the Financial Services and Markets Act 2000;\n(b) any relevant order under that section; and\n(c) Schedule 2 to that Act.”.\n(4) In subsection (6), for the words from “section 16” to the end, substitute “rules made under section 141(1) of the Financial Services and Markets Act 2000 (which may restrict insurers to carrying on insurance business).”.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Art. 232 in force at 1.12.2001, see art. 1"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2001/3649/article/232",
    "retrieved_at": "2026-10-29T07:23:30.014012+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."
}