232 Definition
Banking Act 2009 (2009 c 1) | Legislation

Investment banks

232 Ìý¶Ù±ð´Ú¾±²Ô¾±³Ù¾±´Ç²Ô

(1)     In this group of sections “investment bank†means an institution which satisfies the following conditions.

(2)     Condition 1 is that the institution has permission under [Part 4A] of the Financial Services and Markets Act 2000 to carry on the regulated activity of—

(a)     safeguarding and administering investments,

[(aa)     managing an AIF or a UCITS,

(ab)     acting as trustee or depositary of an AIF or a UCITS,]

(b)     dealing in investments as principal, or

(c)     dealing in investments as agent.

[(2A)     Subsection (2) must be read with section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under section 22.]

(3)     Condition

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