credit institution

153

1. (1) (except in REC):
   1. (a) has the meaning in article 4(1)(1) of the EU CRR; or
   2. (b) [deleted]
   3. (c) [deleted]
   4. (d) [deleted]
2. (2) (in REC and in (Controllers and close links) and (Reporting requirements)):
   1. (a) a credit institution authorised under the CRD; or
   2. (b) an institution which would satisfy the requirements for authorisation as a credit institution under the CRD if it had its registered office (or if it does not have a registered office, its head office) in an EEA State.
3. (3) (in relation to the definition of electronic money issuer and payment service provider215) a credit institution as defined by (1)(a) and includes a branch of the credit institution within the meaning of article 4(1)(17) of the EU CRR which is situated within the EEA and which has its head office in a territory outside the EEA in accordance with article 47 of the CRD.