Section 21(7)

In this regulation— “authorised credit institution” means a person authorised for the purposes of the 2000 Act to accept deposits or an approved foreign credit institution (see paragraph (8)), but does not include a person in the same group as the electronic money institution; “authorised custodian” means a person authorised for the purposes of the 2000 Act to safeguard and administer investments ... “default arrangements”, “designated system”, “rules”, “settlement”, “system” and “transfer order” have the same meanings as in the Financial Markets and Insolvency (Settlement Finality) Regulations 1999.

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