Section 19A(1)

In this Part— “branch” means, in relation to a credit or financial institution, a place of business which forms a legally dependent part of that institution and which carries out all or some of the transactions inherent in the business of that institution; “credit or financial institution” means a “UK credit or financial institution” or a “non-UK credit or financial institution; “foreign exchange reserve and asset management” means activities relating to the reserves or assets of the persons mentioned in paragraph (2) of regulation 18A, such reserves or assets to include the following— money market instruments (including cheques, bills and certificates of deposit); foreign exchange; derivative products (including futures and options); exchange rate and interest rate instruments (including products such as swaps and forward rate agreements); transferable securities; other negotiable instruments and financial assets (including bullion); special drawing rights. “Government of Russia” has the same meaning as in regulation 6; “subsidiary” has the meaning given by section 1159 of the Companies Act 2006;

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Source: legislation.gov.uk · retrieved 2026-08-30