The National Parks Authorities (Levies) (Wales) Regulations 1995 (S.I. 1995/3019)
Meaning of “the reference banks”
519. Regulation 9 of the National Parks Authorities (Levies) (Wales) Regulations 1995 (Interest on unpaid levies) is amended as follows—
(a)for sub-paragraph (a)(1) of paragraph (3) of that regulation, substitute—
“(a)the reference banks are the seven largest persons for the time being who—
(i)have permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits,
(ii)are incorporated in the United Kingdom and carrying on there a regulated activity of accepting deposits, and
(iii)quote a base rate in sterling.”;
(b)in sub-paragraph (b) of that paragraph, for “an institution” substitute “a person” and for “its” (in both places) substitute “his”;
(c)in paragraph (4) of that regulation—
(i)the definition of “a deposit-taking business” is revoked; and
(ii)in the paragraph beginning “the reference to the consolidated gross assets”, for “an institution” substitute “a person” and for “that institution” substitute “that person”; and
(d)after paragraph (4) of that regulation insert—
“(5) Paragraph (3)(a) must be read with—
(a)section 22 of the Financial Services and Markets Act 2000;
(b)any relevant order under that section; and
(c)Schedule 2 to that Act.”.
Sub-paragraph (3)(a) was amended by S.I. 1998/1129, article 3, Schedule 2.