# The Financial Services (Banking Reform) Act 2013 (Transitional and Savings Provisions) Order 2015, Article 10A: Relevant non-UK institutions


(1) A “relevant non-UK institution” is a non-UK institution which—
(a) meets condition A or B;
(b) has a branch in the United Kingdom; and
(c) is not an insurer.
(2) 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.
(3) Condition B is that—
(a) the non-UK institution is an investment firm;
(b) 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
(c) when carried on by it, that activity is a PRA-regulated activity.
(4) In this article—
(a) “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;
(b) “credit institution” has the meaning given in section 71A(6)(c);
(c) “investment firm” has the meaning given in section 424A.

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Source: https://www.legislation.gov.uk/uksi/2015/492/article/10A (the official version)
Page: https://openlegislation.uk/financial-services-banking-reform-act-2013-transitional-and-savings-provisions-order-2015/article-10A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.