Regulation 2 InterpretationI1

In these Regulations—

• “the 2000 Act” means the Financial Services and Markets Act 2000^f1;

• “body corporate” includes a Scottish partnership;

• “designated person” has the meaning given by regulation 3;

• “document” includes information recorded in any form and, in relation to information recorded otherwise than in legible form, references to its production include references to producing a copy of the information in legible form;

• “EC Regulation” means Council Regulation (EC) No 423/2007 of 19th April 2007^f2, as amended from time to time;

• “economic resources” means assets of every kind, whether tangible or intangible, movable or immovable, which are not funds but can be used to obtain funds, goods or services;

• “funds” means financial assets and benefits of every kind, including (but not limited to)—

  1. (a)

     cash, cheques, claims on money, drafts, money orders and other payment instruments;

  2. (b)

     deposits with relevant institutions or other persons, balances on accounts, debts and debt obligations;

  3. (c)

     publicly and privately traded securities and debt instruments, including stocks and shares, certificates representing securities, bonds, notes, warrants, debentures and derivatives contracts;

  4. (d)

     interest, dividends or other income on or value accruing from or generated by assets;

  5. (e)

     credit, rights of set-off, guarantees, performance bonds or other financial commitments;

  6. (f)

     letters of credit, bills of lading, bills of sale;

  7. (g)

     documents providing evidence of an interest in funds or financial resources;

  8. (h)

     any other instrument of export financing;

• “officer”, in relation to a body corporate, means—

  1. (a)

     in relation to a Scottish partnership, a partner, and

  2. (b)

     in relation to any other body corporate, a director, manager, secretary or other similar officer of the body corporate or any person who has purported to act in any such capacity;

• “relevant institution” means—

  1. (a)

     a person who has permission under Part 4 of the 2000 Act; and

  2. (b)

     an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to the 2000 Act^f3 which has permission under paragraph 15 of that Schedule^f4 as a result of qualifying for authorisation under paragraph 12 of that Schedule to accept deposits.

The definition of “relevant institution” in paragraph (1) must be read with—