(1) In this Order -

"the bank", in relation to any undertaking, means the bank or third country institution [Defined in section 89H(7) of the Act.] in the same group as the undertaking;

"covered bond vehicle" means a limited liability partnership - (a) which is a party to a capital market arrangement (within the meaning given in section 72B of the Insolvency Act 1986 [1986 c. 45. See paragraph 1 of Schedule 2A to the Act. Section 72B and Schedule 2A were inserted by the Enterprise Act 2002 (c. 40), section 250 and Schedule 18.]) or a transaction in pursuance of such a capital market arrangement; and(b) whose trade or business (ignoring any incidental activities) consists wholly or mainly of one or both of the following - (i) providing guarantees;(ii) acquiring, owning and managing assets directly or indirectly forming the whole or part of the security for the capital market arrangement;