Part II Licensing and Regulation—Particular Activities
Licensing and regulation of metal dealers
33BF1Acceptable forms of payment: meaning of “bank or building society account”
1
In section 33A(2)(b), “bank or building society account” means an account held with a bank or a building society.
2
For the purposes of subsections (1) and (4)—
a
“bank” means an authorised deposit-taker that has its head office or a branch in the United Kingdom, and
b
“building society” has the same meaning as in the Building Societies Act 1986.
3
In subsection (2)(a), “authorised deposit-taker” means—
a
a person who has permission to accept deposits under Part 4A of the Financial Services and Markets Act 2000 (but see subsection (4) for exclusions),
b
an EEA firm of the kind mention in paragraph 5(b) of Schedule 3 to that Act that has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12(1) of that Schedule).
4
The reference in subsection (3)(a) to a person who has permission to accept deposits under Part 4A of the Financial Services and Markets Act 2000 does not include—
a
a building society,
b
a society registered as a credit union under the Co-operative and Community Benefit Societies Act 2014 or the Credit Unions (Northern Ireland) Order 1985 (S.I. 1985/1205 (N.I. 12)),
c
a friendly society within the meaning given by section 116 of the Friendly Societies Act 1992, or
d
an insurance company within the meaning of section 275 of the Finance Act 2004.