Article 448 Interpretation of the Schedule to the 1993 OrderI1

for the definition of “deposits” substitute—

• ““deposits” includes shares in a building society (other than deferred shares), but does not include transferable instruments;”;

for the definition of “European authorised institution” substitute—

• ““European authorised institution” means an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to the Financial Services and Markets Act 2000 which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation by virtue of paragraph 12 of that Schedule) to accept deposits;”; and

for the definition of “European deposit-taker” substitute—

• ““European deposit-taker” means an EEA firm falling within paragraph 5(b) of Schedule 3 to the Financial Services and Markets Act 2000 which has lawfully established a branch in the United Kingdom for the purpose of accepting deposits;”.