(1) In section 417 (definitions) subsection (1) is amended as set out in paragraphs (2) to (13).

(2) After "In this Act" insert "and in any order or regulations made under this Act".

(3) In the definition of "capital requirements regulation" [This definition was inserted by S.I. 2013/3115.], at the end insert ", as it has effect at the updating point (see subsection (1A))".

(4) In the definition of "central securities depository" [This definition was inserted by S.I. 2017/1064.], for "has the meaning given by point (1) of" substitute "means a CSD or third-country CSD as defined in".

(5) At the appropriate place insert -

""credit institution" means an undertaking the business of which is to take deposits or other repayable funds from the public and to grant credits for its own account;".

(6) In the definition of "the CSD regulation" [This definition was inserted by S.I. 2014/2879.], at the end insert ", as it has effect at the updating point (see subsection (1A))".

(7) For the definition of "insurance undertaking" [This definition was inserted by S.I. 2015/575.] substitute -

""insurance undertaking" means an undertaking which -