Section 27(9)

After subsection (8) insert— In the definition of “bank” in subsection (8), “authorised deposit-taker” means— a person who has permission under Part 4A of the Financial Services and Markets Act 2000 to accept deposits; a person who— is specified, or is within a class of persons specified, by an order under section 38 of that Act (exemption orders), and accepts deposits; . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A reference in subsection (9) to a person ... with permission to accept deposits does not include a person ... with permission to do so only for the purposes of, or in the course of, an activity other than accepting deposits.

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