(1) In these Regulations -
"the 2000 Act" means the Financial Services and Markets Act 2000;
"Annex I financial institution" has the meaning given by regulation 22(1);
"auction platform" has the meaning given by regulation 3(13A);
"auditor", except in regulation 17(2)(c) and (d), has the meaning given by regulation 3(4) and (5);
"authorised person" means a person who is authorised for the purposes of the 2000 Act [See section 31(2) of the 2000 Act.];
"the Authority" means the Financial Conduct Authority;
"beneficial owner" has the meaning given by regulation 6;
"bill payment service provider" means an undertaking which provides a payment service enabling the payment of utility and other household bills;
"business relationship" means a business, professional or commercial relationship between a relevant person and a customer, which is expected by the relevant person, at the time when contact is established, to have an element of duration;
"the capital requirements directive" means