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credit institution

    (as defined in article 1(1) of the BCD)

      1. (1) an undertaking whose business is to receive deposits or other repayable funds from the public and to grant credits for its own account; or
      1. (2) an electronic money institution within the meaning of the E-Money Directive;

    but excluding an institution within (2) that does not have the right to benefit from the mutual recognition arrangements under BCD35

    (see also BCD credit institution, full credit institution, full BCD credit institution and Zone A credit institution.)