SCHEDULES

SCHEDULE 6 Financial Information

Financial institution

I16

1

In this Schedule “financial institution” means—

F1a

a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits,

F2b

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

c

a credit union (within the meaning of the M1Credit Unions Act 1979 or the M2Credit Unions (Northern Ireland) Order 1985),

F3d

a person carrying on a relevant regulated activity,

e

the National Savings Bank,

f

a person who carries out an activity for the purposes of raising money authorised to be raised under the M3National Loans Act 1968 under the auspices of the Director of National Savings,

g

a European institution carrying on a home regulated activity (within the meaning of F6Directive 2000/12/EC of the European Parliament and of the Council relating to the taking up and pursuit of the business of credit institutions),

h

a person carrying out an activity specified in any of points 1 to 12 and 14 of F4Annex 1 to that Directive, and

i

a person who carries on an insurance business in accordance with an authorisation pursuant to Article 6 or 27 of the First Council Directive on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of direct life assurance.

F51A

For the purposes of sub-paragraph (1)(d), a relevant regulated activity means—

a

dealing in investments as principal or as agent,

b

arranging deals in investments,

c

managing investments,

d

safeguarding and administering investments,

e

sending dematerialised instructions,

f

establishing etc. collective investment schemes,

g

advising on investments.

1B

Sub-paragraphs (1)(a) and (1A) 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.

2

The Secretary of State may by order provide for a class of person—

a

to be a financial institution for the purposes of this Schedule, or

b

to cease to be a financial institution for the purposes of this Schedule.

3

An institution which ceases to be a financial institution for the purposes of this Schedule (whether by virtue of sub-paragraph (2)(b) or otherwise) shall continue to be treated as a financial institution for the purposes of any requirement under paragraph 1 to provide customer information which relates to a time when the institution was a financial institution.