- Draft legislation
This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Social Security Administration Act 1992 (Amendment) Order 2002 No. 817
3. In section 109B of the Social Security Administration Act 1992 (power to require information)—
(a)in subsection (7)—
(i)for the definition of “bank” substitute—
““bank” means—
a person who has permission under Part IV of the Financial Services and Markets Act 2000 (c. 8) to accept deposits;
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 (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to accept deposits or other repayable funds from the public; or
a person who does not require permission under that Act to accept deposits, in the course of his business in the United Kingdom;”;
(ii)after the definition of “credit” insert—
““insurer” means—
a person who has permission under Part IV of the Financial Services and Markets Act 2000 to effect or carry out contracts of insurance; or
an EEA firm of the kind mentioned in paragraph 5(d) of Schedule 3 to that Act, which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to effect or carry out contracts of insurance;”;
(b)after subsection (7) insert—
“(7A) The definitions of “bank” and “insurer” in subsection (7) 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.”.
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