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financial institution

72

  1. (1) (in accordance with paragraph 5(c) of Schedule 3 to the Act (EEA Passport Rights: EEA firm) and article 3 (22) of the CRD (Definitions)), but not for the purposes of GENPRU, BIPRU, IFPRU and INSPRU), an undertaking, other than a credit institution, the principal activity of which is to acquire holdings or to carry on one or more of the listed activities listed in points 2 to 12 and 15 of Annex I to the CRD, which is a subsidiary of the kind mentioned in article 34 of the CRD and which fulfils the conditions in that article
  2. (2) for the purposes of GENPRU (except GENPRU 3), BIPRU (except in BIPRU 12) and in accordance with Articles 1(3) (Scope) and 4(5) (Definitions) of the Banking Consolidation Directive):
    1. (a) an undertaking, other than a credit institution or an investment firm, the principal activity of which is to acquire holdings or to carry on one or more of the listed activities listed in points 2 to 12 and 15 of Annex I to the Banking Consolidation Directive including the services and activities provided for in Sections A and B of Annex I of the MIFID when referring to the financial instruments provided for in Section C of Annex I of that Directive
    2. (b) (for the purposes of consolidated requirements) those institutions permanently excluded by Article 2 of the Banking Consolidation Directive (Scope), with the exception of the central banks of EEA States
  3. (3) (except in (1) and (2) and subject to (4)) has the meaning in article 4(1)(26) of the EU CRR.
  4. (4) (for the purposes of consolidated requirements in IFPRU and in accordance with article 2(6) of CRD) the following:
    1. (a) financial institutions within the meaning in article 4(1)(26) of the EU CRR; and
    2. (b) those institutions permanently excluded by article 2(5) of CRD (Scope) with the exception of the ESCB central banks as defined in article 4(1)(46) of the EU CRR.