Article 46 Interpretation: meaning of “bank”I1

Amend section 840A (meaning of bank) as follows.

In subsection (1) for paragraphs (b) and (c) substitute—

“(b)

a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits other than—

(i)

a building society within the meaning of the Building Societies Act 1986,

(ii)

a friendly society within the meaning of section 116 of the Friendly Societies Act 1992^f1,

(iii)

a society registered as a credit union under the Industrial and Provident Societies Act 1965^f2 or the Credit Unions (Northern Ireland) Order 1985^f3, or

(iv)

an insurance company within the meaning of section 659B(1);

(c)

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 under paragraph 12(1) of that Schedule) to accept deposits;”.

Omit subsection (2).