(1) In this Act "investment firm" means a UK institution which is (or, but for the exercise of a stabilisation power, would be) an investment firm for the purposes of Regulation (EU) No. 575/2013 of the European Parliament and of the Council as it forms part of assimilated law.
(2) But "investment firm" does not include -
(a) an institution which is also -
(i) a bank (within the meaning of Part 1),
(ii) a building society (within the meaning of section 119 of the Building Societies Act 1986), or
(iii) a credit union (within the meaning of section 31 of the Credit Unions Act 1979 or Article 2(2) of the Credit Unions (Northern Ireland) Order 1985), or
(b) an institution which is of a class or description specified in an order made by the Treasury.
(3) An order -
(a) is to be made by statutory instrument, and
(b) may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.
(4) If an order contains a statement that the Treasury are of the opin
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