# The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001, Article 406: Investments Approved for the purposes of Part IV of the Local Government and Housing Act 1989

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

(1) In regulation 2 of the Local Authorities (Capital Finance) (Approved Investments) Regulations 1990 the existing text is numbered as paragraph (1).
(2) For sub-paragraphs (b) and (c) of paragraph (1) substitute—
“(b) any deposit made with an authorised deposit taker or the Bank of England, or any certificate of such a deposit;
(c) any shares in a building society, and for this purpose “share” and “building society” have the meaning given by section 119 of the Building Societies Act 1986;”.
(3) In sub-paragraph (d) of paragraph (1), for “an authorised institution” substitute “an authorised deposit taker”.
(4) After paragraph (1) of regulation 2 insert—
“(2) Paragraph (1)(b) 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,
but for the purposes of this regulation a deposit includes a sum paid by a local authority.”.

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Source: https://www.legislation.gov.uk/uksi/2001/3649/article/406 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-and-repeals-order-2001/article-406
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.