Section 89JA(2)

In this Chapter— “UK branch” means a branch located in the United Kingdom of a third-country institution authorised for the purpose of the Financial Services and Markets Act 2000 by the PRA or the FCA, references to the business of a UK branch are to— any rights and liabilities of the third-country institution arising as a result of the operations of the UK branch, and any other property in the United Kingdom of the third-country institution, “third-country institution” has the same meaning as in section 89H, and a third-country institution is “FCA-regulated” if it does not carry on any activity which is a PRA-regulated activity for the purposes of the Financial Services and Markets Act 2000, references to a third-country institution are to the third-country institution in respect of whose UK branch the Bank of England— is considering making a property transfer instrument, or has made a property transfer instrument, “immediate group” has the meaning given by section 421ZA of the Financial Services and Markets Act 2000 .

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Source: legislation.gov.uk · retrieved 2026-09-04