248.—(1) Regulation 25 of the Fossil Fuel Levy (Scotland) Regulations 1996 (investment of sums collected) is amended as follows.
(2) In paragraph (3) for the words from “an institution” to “Regulations 1992”(1) substitute—
“a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits and an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to that Act which has permission under paragraph 15 of that Schedule to accept deposits as a result of satisfying the establishment conditions within the meaning of that Schedule”.
(3) After paragraph (3) insert—
“(4) Paragraph (3) must be read with—
(a)section 22 of the Financial Services and Markets Act 2000;
(b)any relevant order under that section; and
(c)Schedule 2 to that Act.”.
The words now being substituted were themselves substituted by the Fossil Fuels Levy (Scotland) Amendment Regulations 1996 (S.I. 1996/1512) (S.135) regulation 2.)