credit institution

1. (1) (except in REC and SUP 16 ):
   1. (a) has the meaning in article 4(1)(1) of the UK CRR; or
   1. (b) [deleted]
   1. (c) [deleted]
   1. (d) [deleted]
1. (2) (in REC and in SUP 11 (Controllers and close links) and SUP 16 (Reporting requirements)):
   1. (a) a credit institution which has permission under Part 4A of the Act to carry on the regulated activity of accepting deposits; or
   1. (b) an institution which would satisfy the requirements for authorisation as a credit institution under Part 4A of the Act if it had its registered office (or if it does not have a registered office, its head office) in the UK.
1. (3) (in relation to the definition of electronic money issuer and payment service provider ) a credit institution as defined by (1)(a) and includes a branch of the credit institution within the meaning of article 4(1)(17) of the UK CRR which is situated within the UK and which has its head office in a territory outside the UK.

[Note: article 47 of the CRD]