Article 10A Relevant non-UK institutionsF1
A “relevant non-UK institution” is a non-UK institution which—
meets condition A or B;
has a branch in the United Kingdom; and
is not an insurer.
Condition A is that the non-UK institution is a credit institution which has permission under Part 4A or resulting from Schedule 3 or 4 to carry on the regulated activity of accepting deposits.
Condition B is that—
the non-UK institution is an investment firm;
it has permission under Part 4A or resulting from Schedule 3 or 4 to carry on the regulated activity of dealing in investments as principal; and
when carried on by it, that activity is a PRA-regulated activity.
In this article—
“branch” means a place of business that forms a legally dependent part of a non-UK institution and conducts directly all or some of the operations inherent in the institution’s business;
“credit institution” has the meaning given in section 71A(6)(c);
“investment firm” has the meaning given in section 424A.