# The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001, Article 35: Meaning of “deposit-taking business”, “chief executive” and “manager”

Extent: E+W+S+N.I.

(1) Schedule 9 to the 1985 Act (special provisions for banking companies and groups) is amended as follows.
(2) In Part II (consolidated accounts), in paragraph 1 (undertakings to be included in consolidation)—
(a) in sub-paragraph (1) for “banking business” substitute “deposit-taking business”; and
(b) for sub-paragraph (2) substitute—
“(2) For the purposes of this paragraph “deposit-taking business” means the activity of accepting deposits by way of business, but does not include accepting deposits only for the purpose of carrying on another regulated activity.”;
(c) after sub-paragraph (2) insert—
“(3) References in sub-paragraph (2) to deposits and their acceptance, and to regulated activities must be read with—
(a) section 22 of the Financial Services and Markets Act 2000;
(b) any relevant order under that section; and
(c) Schedule 2 to that Act.”.
(3) In Part IV of that Schedule (additional disclosure: emoluments and other benefits of directors and others), in sub-paragraph (1)(b) of paragraph 3 (other transactions and agreements) for “within the meaning of the Banking Act 1987” substitute “within the meaning of the Financial Services and Markets Act 2000”.

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Source: https://www.legislation.gov.uk/uksi/2001/3649/article/35 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-and-repeals-order-2001/article-35
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.