Article 2 Amendments to the Financial Services and Markets Act 2000 (Ring-fenced Bodies and Core Activities) Order 2014

(1)

The Financial Services and Markets Act 2000 (Ring-fenced Bodies and Core Activities) Order 2014^f1 is amended as follows.

(2)

In article 2 (circumstances in which accepting a deposit is not a core activity)—

(a)

in paragraph (2)—

(i)

after sub-paragraph (c) omit “or”;

(ii)

after sub-paragraph (d) insert—

“or

(e)
a person who is, or at any time within the previous six months has been, subject to financial sanctions.”;

(b)

in paragraph (3), after sub-paragraph (d) insert—

“(e)
“financial sanctions” means any prohibition or obligation imposed under financial sanctions legislation as defined in section 143(4) of the Policing and Crime Act 2017^f2.”.

Annotations

Footnotes

f1: S.I. 2014/1960, amended by S.I. 2016/1032.
f2: 2017 c. 3. Section 143 is amended by paragraph 8 of Schedule 3 to the Sanctions and Anti-Money Laundering Act 2018 (c. 13) but those amendments are not yet in force.