Article 2 Relevant financial institution

(1) For the purposes of this Order, a "relevant financial institution" is an institution which falls within one of the classes listed in paragraph (2), and which is not within one of the exceptions set out in paragraph (3).

(2) The classes are -

(a) credit institutions;

(b) investment firms;

(c) structured finance vehicles;

(d) global systemically important insurers;

(e) UCITS (wherever established) and alternative investment funds;

(f) management companies or alternative investment fund managers; and

(g) financial holding companies and mixed financial holding companies.

(3) The exceptions are -

(a) ring-fenced bodies;

(b) building societies;

(c) bodies corporate -

(i) whose purpose, or principal purpose, is that of making loans which are secured on residential property and which are funded substantially by their members, and

(ii) which are incorporated under the law of an EEA state;

(d) credit unions and other institutions referred to in Article 2.5 of the credit institutions directiv

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