Regulation 2 Amendment of the Local Authorities (Capital Finance) (Approved Investments) Regulations 1990

the definition of “authorised institution” shall be omitted;

after the definition of “bill of exchange” there shall be inserted the following definition —

• ““deposit-taker” has the same meaning as in section 43 of the Local Government and Housing Act 1989^f2;”;

in the definition of “relevant lender”, for the words “an authorised institution or a building society within the meaning of the Building Societies Act 1986” there shall be substituted the words “a deposit-taker”.

for paragraph (b) there shall be substituted the following paragraph —

“(b)

any deposit made with a deposit-taker (other than a deposit-taker falling within sub-paragraph (c)) or the Bank of England, or any certificate of such a deposit, and, for this purpose, “deposit” has the same meaning as in article 5 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001^f3 except that no account is to be taken of the reference to a local authority in article 6(1)(a)(viii) of that Order;”;

In paragraph (d) for the words “an authorised institution” there shall be substituted the words “a deposit-taker”.