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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 December 2001 - onwards
Version 2 of 2

Article 226 Definition of "bank"

(1) Section 338 of the Housing (Scotland) Act 1987 (interpretation) is amended as follows.

(2) In subsection (1) -

(a) in the definition of "bank", for paragraph (a) substitute -

"(a) a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits,

(ab) an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to that Act which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to accept deposits, or";

(b) for the definition of "insurance company" substitute -

""insurance company" means -

(a) a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to effect or carry out contracts of insurance, or

(b) an EEA firm of the kind mentioned in paragraph 5(d) of Schedule 3 to that Act which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to effect or carry out contracts of insurance;".

(3) After subsection (1) insert -

"(1A) The definitions of "bank" and "insurance company" in subsection (1) must be read with -

(a) section 22 of the Financial Services and Markets Act 2000;