shell bank
Defined in Article 3, Directive 2005/60/EC
Definitions over time (1)
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For the purposes of this Directive the following definitions shall apply:
‘shell bank’ means a credit institution, or an institution engaged in equivalent activities, incorporated in a jurisdiction in which it has no physical presence, involving meaningful mind and management, and which is unaffiliated with a regulated financial group.
Earlier definition records in this act (1)
Open an entry to see its definitions, dates and uses. Separate scopes and histories are kept intact.
- Article 3(10) Historical · definitions end 25/12/2007