PART 3Access to services etc

CHAPTER 2Other services etc

Bank accounts

42“Bank” and “building society”

(1)

In sections 40 F1to 41 “bank” means an authorised deposit-taker that has its head office or a branch in the United Kingdom.

This is subject to subsection (4).

(2)

In subsection (1) “authorised deposit-taker” means—

(a)

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

F2(b)

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

(3)

A reference in subsection (2) to a person F3... with permission to accept deposits does not include a person F3... with permission to do so only for the purposes of, or in the course of, an activity other than accepting deposits.

(4)

“Bank” does not include—

(a)

a building society;

(b)

a person who is specified, or is within a class of persons specified, by an order under section 38 of the Financial Services and Markets Act 2000 (exemption orders);

(c)

a credit union within the meaning given by section 31(1) of the Credit Unions Act 1979 or by Article 2(2) of the Credit Unions (Northern Ireland) Order 1985;

(d)

a friendly society within the meaning given by section 116 of the Friendly Societies Act 1992.

(5)

In sections 40 F4to 41 , and in subsection (4), “building society” means a building society incorporated (or deemed to be incorporated) under the Building Societies Act 1986.