SCHEDULES
F1SCHEDULE 3AREGULATED SECTOR AND SUPERVISORY AUTHORITIES
F2PART 1REGULATED SECTOR
Sch. 3A Pt. 1 substituted (1.3.2004 with effect in accordance with art. 1 of the amending S.I.) by The Terrorism Act 2000 (Business in the Regulated Sector and Supervisory Authorities) Order 2003 (S.I. 2003/3076), arts. 1, 2, Sch.
Business in the regulated sector
2
1
This paragraph has effect for the purposes of paragraph 1.
2
“Building society” has the meaning given by the Building Societies Act 1986.
3
“Credit union” has the meaning given by the Credit Unions Act 1979 (c. 34) or the Credit Unions (Northern Ireland) Order 1985 (S.I. 1985/1205 (N.I. 12)).
4
“European institution” means an EEA firm of the kind mentioned in paragraph 5(b) or (c) of Schedule 3 to the Financial Services and Markets Act 2000 which qualifies for authorisation for the purposes of that Act under paragraph 12 of that Schedule.
5
“Home-regulated activity” in relation to a European institution, means an activity—
a
which is specified in Annex 1 to the Banking Consolidation Directive and in respect of which a supervisory authority in the home State of the institution has regulatory functions, and
b
if the institution is an EEA firm of the kind mentioned in paragraph 5(c) of Schedule 3 to the Financial Services and Markets Act 2000, which the institution carries on in its home State.
6
“Home State”, in relation to a person incorporated in or formed under the law of another member State, means that State.
7
The Banking Consolidation Directive is the Directive of the European Parliament and Council relating to the taking up and pursuit of the business of credit institutions (No. 2000/12 EC).
8
The First Life Directive is the First Council Directive on the co-ordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of direct life assurance (No.79/267/EEC).
Sch. 3A inserted (20.12.2001) by 2001 c. 24, s. 3, Sch. 2 Pt. 3 para. 6; S.I. 2001/4019, art. 2(1)(c)