Part 3 Definitions
Finance Act 2010 (2010 c 13) | Legislation

Part 3 Definitions

“UK resident bank†and “relevant foreign bankâ€

43

(1)     “UK resident bank†means a company which—

(a)     is resident in the United Kingdom,

(b)     is an authorised person for the purposes of FISMA 2000 (see section 31 of that Act),

(c)     is a person—

(i)     whose activities include the relevant regulated activity described in the provision mentioned in paragraph 44(1)(a), or

(ii)     which is both a BIPRU 730k firm and a full scope BIPRU investment firm, whose activities consist wholly or mainly of any of the relevant regulated activities described in the provisions mentioned in paragraph 44(1)(b) to (f) and which meets the capital resources condition,

(d)     carries on that relevant regulated activity, or those relevant regulated activities, wholly or mainly in the course of trade, and

(e)     is not an excluded company.

(2)     “UK resident bank†also includes a company which—

(a)     meets the conditions in sub-paragraph (1)(a) and (e), and

(b)     is a member of a partnership which meets the conditions in sub-paragraph (1)(b) to (d).

(3)     “Relevant foreign bank†means a company which—

(a)     is not resident in the United Kingdom,

(b)     is an authorised person for the purposes

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Direct discrimination

Direct discriminationIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an

LEXISNEXIS

Motor claims in the Portal—a practical guide (Stage 1)

Motor claims in the Portal—a practical guide (Stage 1)The Pre-Action Protocol for Low Value Personal Injury Claims in Road Traffic Accidents—30 April 2013 onwardsSTOP PRESS: A new RTA small claims protocol for whiplash claims comes into effect for accidents occurring on or after 31 May 2021. The

LEXISNEXIS

Traditional procurement of construction contracts

Traditional procurement of construction contractsThis Practice Note provides a basic explanation of traditional procurement in construction. It looks at why this type of procurement is used and also considers particular issues to take into account when choosing to follow this procurement route.When

LEXISNEXIS

Notice to complete

While this Practice Note primarily covers commercial property matters, it also touches on residential considerations.Time is generally not of the essence for completion of a contract for the sale of land. If the seller or the buyer delays completion, the defaulting party will be liable in damages