PART 9 AMENDMENTS TO SECONDARY LEGISLATION

The Libya (United Nations Sanctions) Order 1993 (S.I. 1993/2807)

444 Interpretation of article 12: assets of Libya
1 Paragraph (5) of article 12 of the Libya (United Nations Sanctions) Order 1993 (assets of Libya) is amended as follows.
2 For sub-paragraph (b) substitute—

“(b) “investment” means any investment of a kind specified by any relevant order under section 22 of the Financial Services and Markets Act 2000 which is not a security.”

.
3 For the definition of “relevant institution” in sub-paragraph (c) substitute—

““relevant institution” means—
(a) a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits,
(b) an EEA firm of the kind mentioned in sub-paragraph (b) or (c) of paragraph 5 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
(c) a person who may accept deposits without contravening the prohibition imposed by section 19 of that Act, by reason of being an exempt person as a result of an order under section 38 of that Act;”

.