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Section 25 Meaning of “deposit taker”I1I2

United Kingdom

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

In sections 19 to 24, “deposit taker” means a person who has permission to carry on the regulated activity of accepting deposits under—

(a)

Part 4A of the Financial Services and Markets Act 2000 (permission to carry on regulated activities), or

(b)

paragraph 15 of Schedule 3 to that Act (EEA passport rights), as it has effect as a result of section 409 of that Act (Gibraltar).

(2)

But “deposit taker” does not include a person who has permission to carry on the regulated activity of accepting deposits only for the purposes of, or in the course of, carrying on another regulated activity.

(3)

In this section “regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.

Annotations

Commencement

I1

S. 25 not in force at Royal Assent, see s. 91(2)

I2

S. 25 in force at 4.1.2023 by S.I. 2022/1359, reg. 2