13(1)In paragraphs 6 to 8, “eligible deposit” means a deposit in respect of which the person, or any of the persons, to whom it is owed would be eligible for compensation under the Financial Services Compensation Scheme.S
(2)For the purposes of those paragraphs and of this paragraph, a “deposit” means rights of the kind described in paragraph 22 of schedule 2 of the Financial Services and Markets Act 2000 (deposits).
(3)In paragraphs 7 and 8, “eligible person” means—
(a)an individual, or
[F1(b)any micro, small or medium-sized enterprise, as defined with regard to the annual turnover criterion referred to in Article 2(1) of the Annex to Commission Recommendation 2003/361/EC.]
(4)In paragraph 8—
(a)“credit institution” has the meaning given in Article 4.1(1) of the capital requirements regulation,
[F2(b)“UK branch” means a branch, as defined in Article 4(1)(17) of the capital requirements regulation, which is established in the United Kingdom, and
(c)“non-UK branch” means a branch, as so defined, which is established outside the United Kingdom.]
[F3(5)In sub-paragraph (4)(a) and (b), “the capital requirements regulation” means Regulation (EU) No. 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No. 648/2012.]
Textual Amendments
F1Sch. 3 para. 13(3)(b) substituted (17.8.2022) by The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2022 (S.I. 2022/838), regs. 1(2), 8(3)(a) (with regs. 24-26)
F2Sch. 3 para. 13(4)(b)(c) substituted (17.8.2022) by The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2022 (S.I. 2022/838), regs. 1(2), 8(3)(b) (with regs. 24-26)
F3Sch. 3 para. 13(5) substituted (17.8.2022) by The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2022 (S.I. 2022/838), regs. 1(2), 8(3)(c) (with regs. 24-26)
Commencement Information
I1Sch. 3 para. 13 in force at 30.11.2016 by S.S.I. 2016/294, reg. 2