SCHEDULES

SCHEDULE 3 U.K. Minimum Criteria for Authorisation

Modifications etc. (not altering text)

C1 Sch. 3 applied with modifications (1.1.1993) by S.I. 1992/3218, reg. 23(3).

Minimum net assets U.K.

[F1 6 (1) The institution will at the time when authorisation is granted to it have initial capital amounting to not less than ecu 5 million (or an amount of equal value denominated wholly or partly in another unit of account).

(2) In this paragraph ’ecu’ and ’initial capital’ have the same meanings as in the Banking Coordination (Second Council Directive) Regulations 1992.]

Textual Amendments

F1 Sch. 3 para. 6 substituted (1.1.1993) by S.I. 1992/3218, reg. 27(4) (with savings in 46(a)).