Article 2 Interpretation

In this Order—

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

• “the Authorities” means—

  1. (a)

     the Central Bank of Iceland, Kalkofnsvegi 1, 150 Reykjavik;

  2. (b)

     the Icelandic Financial Services Authority (the Fjármálaeftirlitið); and

  3. (c)

     the Landsbanki receivership committee established by the Icelandic Financial Services Authority;

• “body corporate” includes a Scottish partnership and “a body incorporated under the law of any part of the United Kingdom” is to be interpreted accordingly;

• “frozen funds” has the meaning given in article 4(1);

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

  1. (a)

     gold, 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 derivative products;

  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; and

  7. (g)

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

• “Landsbanki” means Landsbanki Íslands hf., a public limited company incorporated under the law of Iceland;

• “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^f2 which has permission under paragraph 15 of that Schedule 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—