Regulation 2 Amendment of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999I1

In regulation 2(1) of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (interpretation)^f1, in the definition of “institution” after paragraph (aa) insert—

“(ab)

an authorised payment institution or small payment institution as defined in regulation 2(1) of the Payment Services Regulations 2017, or a person whose head office, registered office or place of residence, as the case may be, is outside the United Kingdom and whose functions correspond to those of such an institution;”.