Schedule 3, Part 1, paragraph 2(4)

In subsection (6), after the definition of “authorised person”, insert— “institution” means— a credit institution within the meaning given by Article 2.1(2) of Directive 2014/59/EU of the European Parliament and of the Council of 15th May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms ; or an investment firm within the meaning given by Article 2.1(3) of that directive; “institution authorised in the UK” means an institution which is an authorised person and— a bank within the meaning given by section 2 of the Banking Act 2009 ; a building society within the meaning given in section 119 of the Building Societies Act 1986 ; or an investment firm within the meaning given by section 258A of the Banking Act 2009;

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