The Pig Industry Restructuring Grant (Wales) (Variation) Scheme 2003

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" "bank" ("banc") means  - 
(i) a person who has permission under Part 4 of the Financial Services and Markets Act 2000[4] to accept deposits,

(ii) an European Economic Area firm of the kind mentioned in paragraph 5(b) of Schedule 3 to that Act which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to accept deposits,

(iii) the National Savings bank,

(iv) a municipal bank, that is to say a company which was, immediately before the repeal of the Banking Act 1987[5] exempted from the prohibition in section 3 of that Act by virtue of section 4(1) of, and paragraph 4 of Schedule 2 to, that Act, or

(v) a credit union within the meaning of the Credit Unions Act 1979[6]."

    (3) There is inserted the following paragraph after subparagraph (1) of paragraph 2.

    " (1A) The definition of "bank" ("banc") in subparagraph (1) must be read with  - 


(a) section 22 of the Financial Services and Markets Act 2000;

(b) any relevant order made under that section; and

(c) Schedule 2 to that Act.".

Signed on behalf of the National Assembly for Wales under section 66(1) of the Government of Wales Act 1998[7]


D. Elis-Thomas
The Presiding Officer of the National Assembly

23rd October 2003

[2] 1970 c.40; sections 28(1) defines "the appropriate authority" and "the appropriate Minister". All functions of a Minister of the Crown under sections 28 and 29, in so far as exercisable in relation to Wales, were transferred to the National Assembly for Wales by the National Assembly for Wales (Transfer of Functions) Order 1999 (S.I. 1999/672).back

[3] S.I. 2001/643 (W.32).back

[4] 2000 c.8.back

[5] 1987 c.22.back

[6] 1979 c.34.back

[7] 1998 c.38.back