credit institution

153

1. (1) (except in REC and SUP 16230):
   1. (a) has the meaning in article 4(1)(1) of the UK CRR230; or
   2. (b) [deleted]
   3. (c) [deleted]
   4. (d) [deleted]
2. (2) (in REC and in SUP 11 (Controllers and close links) and SUP 16 (Reporting requirements)):
   1. (a) a credit institution which has permission under Part 4A of the Act to carry on the regulated activity of accepting deposits230; or
   2. (b) an institution which would satisfy the requirements for authorisation as a credit institution under Part 4A of the Act230 if it had its registered office (or if it does not have a registered office, its head office) in the UK230.
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 UK CRR230 which is situated within the UK230 and which has its head office in a territory outside the UK230.

[Note: article 47 of the CRD]230