Moved by
Lord Newby
72: Clause 24, page 38, line 43, leave out “bank” and insert “relevant authorised person”
73: Clause 24, page 38, line 44, leave out from “Part” to end of line 46 and insert ““relevant authorised person” means a UK institution which—
(a) meets condition A or B, and
(b) is not an insurer.
(2) Condition A is that the institution has permission under Part 4A to carry on the regulated activity of accepting deposits.
“(2A) Condition B is that—
(a) the institution is an investment firm,
(b) it has permission under Part 4A to carry on the regulated activity of dealing in investments as principal, and
(c) when carried on by it, that activity is a PRA-regulated activity.”
74: Clause 24, page 39, line 7, leave out “(1)” and insert “(2), (2A)”
75: Clause 24, page 39, line 7, leave out “section 22, taken with Schedule 2 and” and insert “Schedule 2, taken with”