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The changes to this defined term are effective from 23:00 on 31/12/2020.
means a credit institution recognised or permitted under the law of the UK to carry on any of the activities set out in Annex 1 to the CRD.
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that part of safeguarding and administering investments which consists solely of arranging for one or more other persons to carry on both:
(a) the safeguarding of assets belonging to another; and
(b) the administration of those assets.