{
  "url": "https://openlegislation.uk/public-authorities-fraud-error-and-recovery-act-2025/section-36",
  "json_url": "https://openlegislation.uk/public-authorities-fraud-error-and-recovery-act-2025/section-36.json",
  "legislation": "ukpga/2025/28",
  "legislation_title": "Public Authorities (Fraud, Error and Recovery) Act 2025",
  "legislation_url": "https://openlegislation.uk/public-authorities-fraud-error-and-recovery-act-2025",
  "path": "section/36",
  "kind": "section",
  "number": "36",
  "heading": "Meaning of “bank” etc",
  "text": "(1) For the purposes of direct deduction orders, “bank” means a person who is authorised—\n(a) to accept deposits, or\n(b) to issue electronic money.\n(2) For the purposes of subsection (1)(a)—\n(a) the reference to accepting deposits is to carrying on the regulated activity of accepting deposits for the purposes of the Financial Services and Markets Act 2000 (see section 22 of that Act and article 5 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544)), and\n(b) a person is authorised to accept deposits if they are an authorised person or an exempt person in relation to the carrying on of that activity for the purposes of the Financial Services and Markets Act 2000.\n(3) For the purposes of subsection (1)(b), a person is authorised to issue electronic money if—\n(a) the person is an electronic money institution, and\n(b) the person is authorised or registered under Part 2 of the Electronic Money Regulations 2011 (S.I. 2011/99) in relation to carrying on the activity of issuing electronic money.\n(4) In subsection (3), “electronic money” and “electronic money institution” have the meanings given by regulation 2(1) of those Regulations (and references to the issue of electronic money are to be construed in accordance with those Regulations).\n(5) In this Part, references to an amount in an account are to an amount standing to the credit of the account.\n(6) In this Part, references to a person holding an account include references to—\n(a) a person holding an account jointly with one or more other persons,\n(b) a person being a signatory, or one of the signatories, to an account, and\n(c) an account being, in any other way, in the person’s name,\nand “holder” is to be read accordingly.",
  "extent": "E+W",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "S. 36 not in force at Royal Assent, see s. 109(1)"
    },
    {
      "type": "I",
      "label": "I2",
      "text": "S. 36 in force at 1.4.2026 by S.I. 2026/371, reg. 2(a)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2025/28/section/36",
    "retrieved_at": "2026-10-31T10:27:04.329230+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}