Schedule, Part 2 Amendment of European Communities (Licensing and Supervision of Credit Institutions) Regulations 1992
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Item |
Provision amended |
Amendment |
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1 |
Substitute for the definition of “credit institution” the following: “ ‘credit institution’ means an undertaking the business of which is to receive deposits or other repayable funds from the public and to grant credits for its own account;”. |
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2 |
Substitute for the definition of “financial institution” the following: “ ‘financial institution’ means an undertaking, other than a credit institution, the principal activity of which is to acquire holdings or to pursue one or more of the activities listed in points 2 to 12 and 16 of the Schedule;”. |
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3 |
The Schedule is amended by inserting, after item 15, the following: “16. Issuing electronic money.”. |
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