PART 2Subsidy control requirements

CHAPTER 2Prohibitions and other requirements

Ailing or insolvent enterprises

I1I225Meaning of “deposit taker”

1

In sections 19 to 24, “deposit taker” means a person who has permission to carry on the regulated activity of accepting deposits under—

a

Part 4A of the Financial Services and Markets Act 2000 (permission to carry on regulated activities), or

b

paragraph 15 of Schedule 3 to that Act (EEA passport rights), as it has effect as a result of section 409 of that Act (Gibraltar).

2

But “deposit taker” does not include a person who has permission to carry on the regulated activity of accepting deposits only for the purposes of, or in the course of, carrying on another regulated activity.

3

In this section “regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.