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6. Article 270 of the 1986 Order(1) (minor definitions) is amended by the substitution in paragraph (1), of the following for the definition of “credit institution”—
““credit institution” means a credit institution as defined in article 1 of the First Council Directive on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of credit institutions (77/780/EEC), that is to say an undertaking whose business is to receive deposits or other repayable funds from the public and to grant credits for its own account;”.
Article 270 is inserted into the 1986 Order by Article 24 of the Companies (Northern Ireland) Order 1990, in place of an existing Article of that number
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