PART 9AMENDMENTS TO SECONDARY LEGISLATION
The Residuary Body for Wales (Winding Up) Order 1998 (S.I. 1998/2859)
Interpretation of the 1998 Order580
1
In paragraph (1) of article 2 of the Residuary Body for Wales (Winding Up Order) 1998 (interpretation and general provisions)—
a
for the definition of “contract for banking services” substitute—
“contract for banking services” means a contract for the provision of services for the Residuary Body by—
- a
a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits; or
- b
an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to that Act which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to accept deposits;
b
the definition of “contract of insurance” is revoked.
2
After paragraph (3) of that article insert—
4
The definition of “contract for banking services” in paragraph (1), and references in this Order to contracts of insurance, 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.