# The Financial Services and Markets Act 2000 (Excluded Activities and Prohibitions) Order 2014, Article 9: Excluded activities: derivatives


A ring-fenced body does not carry on an excluded activity by entering into transactions with any one or more of its account holders if—
(a) the transaction satisfies the requirements listed in article 10 or 11(1), (2), or (3), and
(b) all the conditions set out in article 12 are satisfied.

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Source: https://www.legislation.gov.uk/ukdsi/2014/9780111117101/article/9 (the official version)
Page: https://openlegislation.uk/draft-financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.