Dormant Bank and Building Society Accounts Act 2008
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Change 1
7 “Bank”
(1) Subject to subsection (4), “bank” means an authorised deposit-taker that has its head office, or one or more branches, in the United Kingdom. (2) In subsection (1) “authorised deposit-taker” means— (a) a person who under Part 4A of FSMA 2000 has permission to accept deposits; (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (3) A reference in subsection (2) to a person ... with permission to accept deposits does not include a person ... with permission to do so only for the purposes of, or in the course of, an activity other than accepting deposits. (4) “Bank” does not include— (a) a building society; (b) a person who is specified, or is within a class of persons specified, by an order under section 38 of FSMA 2000 (exemption orders); (c) a credit union; (d) a friendly society. (5) In this section— “credit union” means a credit union within the meaning of section 31(1) of the Credit Unions Act 1979 or a credit union within the meaning of Article 2(2) of the Credit Unions (Northern Ireland) Order 1985; “friendly society” has the same meaning as in the Friendly Societies Act 1992 (c. 40) (see section 116 of that Act); “FSMA 2000” means the Financial Services and Markets Act 2000 (c. 8).
7 “Bank”
(1) Subject to subsection (4), “bank” means an authorised deposit-taker that has its head office, or one or more branches, in the United Kingdom. (2) In subsection (1) “authorised deposit-taker” means— (a) a person who under Part 4A of FSMA 2000 has permission to accept deposits; (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (3) A reference in subsection (2) to a person ... with permission to accept deposits does not include a person ... with permission to do so only for the purposes of, or in the course of, an activity other than accepting deposits. (4) “Bank” does not include— (a) a building society; (b) a person who is specified, or is within a class of persons specified, by an order under section 38 of FSMA 2000 (exemption orders); (c) a credit union; (d) a friendly society. (5) In this section— “credit union” means a credit union within the meaning of section 31(1) of the Credit Unions Act 1979 or a credit union within the meaning of Article 2(2) of the Credit Unions (Northern Ireland) Order 1985; “friendly society” has the same meaning as in the Friendly Societies Act 1992 (c. 40) (see section 116 of that Act); “FSMA 2000” means the Financial Services and Markets Act 2000 (c. 8).
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