Part 16Income Tax Acts definitions etc
Chapter 1Definitions
991Meaning of “bank”
1
This section has effect for the purposes of the provisions of the Income Tax Acts which apply this section.
2
“Bank” means—
a
the Bank of England,
b
a person who has permission under Part 4 of FISMA 2000 to accept deposits (but see subsection (3) for exclusions),
c
an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to FISMA 2000 which has permission under paragraph 15 of that Schedule to accept deposits (as a result of qualifying for authorisation under paragraph 12(1) of that Schedule),
d
the European Investment Bank, and
e
an international organisation designated as a bank for the purposes of this section by an order made by the Treasury.
3
The reference to a person who has permission under Part 4 of FISMA 2000 to accept deposits does not include—
a
a building society,
b
a society registered within the meaning of the Friendly Societies Act 1974 (c. 46) or incorporated under the Friendly Societies Act 1992 (c. 40),
c
a society registered as a credit union under the Industrial and Provident Societies Act 1965 (c. 12) or the Credit Unions (Northern Ireland) Order 1985 (S.I. 1985/1205 (N.I. 12)), or
d
an insurance company within the meaning of section 275 of FA 2004.
4
The Treasury may designate an international organisation for the purposes of this section only if the United Kingdom is a member of the organisation.