Legislation – Subsidy Control Act 2022
Changes to legislation:
Subsidy Control Act 2022, Section 25 is up to date with all changes known to be in force on or before 19 December 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Changes and effects yet to be applied to Section 25:
- s. 25(1)(b) and word omitted by 2021 c. 22, Sch. 8 para. 20(2) (as inserted) by 2022 c. 23 s. 83
PART 2Subsidy control requirements
CHAPTER 2Prohibitions and other requirements
Ailing or insolvent enterprises
25Meaning of “deposit taker”
(1)
In sections 19 to 24, “deposit taker” means a person who has permission to carry on the regulated activity of accepting deposits under—
(a)
Part 4A of the Financial Services and Markets Act 2000 (permission to carry on regulated activities), or
(b)
paragraph 15 of Schedule 3 to that Act (EEA passport rights), as it has effect as a result of section 409 of that Act (Gibraltar).
(2)
But “deposit taker” does not include a person who has permission to carry on the regulated activity of accepting deposits only for the purposes of, or in the course of, carrying on another regulated activity.
(3)
In this section “regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.