s 55Q Interpretation of this Part
55Q. In this Part, unless the context otherwise requires —“associate”, in relation to a merchant bank, has the meaning given by section 48AA(5), with each reference to the first entity replaced with a reference to the merchant bank; “deposit” has the meaning given by section 4B(4) read with subsections (4A), (5), (6) and (10) of that section; “deposit-taking business” has the meaning given by section 4B(7) read with subsections (8), (9) and (10) of that section; “merchant bank group”, in relation to a merchant bank, means a group of entities comprising the merchant bank and —(a) any of its associates; and (b) any other entity treated as part of the merchant bank’s group of companies according to the accounting standards applicable to the merchant bank; “permitted business”, in relation to a merchant bank, means one or both of the following businesses:(a) banking business; (b) deposit-taking business.[1/2020]