# Immigration Act 2014, Section 42: “Bank” and “building society”

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

(1) In sections 40 to 41 “bank” means an authorised deposit-taker that has its head office or a branch in the United Kingdom.
This is subject to subsection (4).
(2) In subsection (1) “authorised deposit-taker” means—
(a) a person who under Part 4A of the Financial Services and Markets Act 2000 has permission to accept deposits;
(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) A reference in subsection (2) to a person ... with permission to accept deposits does not include a person ... with permission to do so only for the purposes of, or in the course of, an activity other than accepting deposits.
(4) “Bank” does not include—
(a) a building society;
(b) a person who is specified, or is within a class of persons specified, by an order under section 38 of the Financial Services and Markets Act 2000 (exemption orders);
(c) a credit union within the meaning given by section 31(1) of the Credit Unions Act 1979 or by Article 2(2) of the Credit Unions (Northern Ireland) Order 1985;
(d) a friendly society within the meaning given by section 116 of the Friendly Societies Act 1992.
(5) In sections 40 to 41 , and in subsection (4), “building society” means a building society incorporated (or deemed to be incorporated) under the Building Societies Act 1986.

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Source: https://www.legislation.gov.uk/ukpga/2014/22/section/42 (the official version)
Page: https://openlegislation.uk/immigration-act-2014/section-42
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.