{
  "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-ring-fenced-bodies-and-core-activities-order-2014/article-11",
  "json_url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-ring-fenced-bodies-and-core-activities-order-2014/article-11.json",
  "legislation": "ukdsi/2014/9780111117118",
  "legislation_title": "The Financial Services and Markets Act 2000 (Ring-fenced Bodies and Core Activities) Order 2014",
  "legislation_url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-ring-fenced-bodies-and-core-activities-order-2014",
  "path": "article/11",
  "kind": "article",
  "number": "11",
  "heading": "Circumstances in which UK deposit-takers are not ring-fenced bodies",
  "text": "(1) A UK deposit-taker is not a ring-fenced body if—\n(a) it carries out the regulated activity of effecting or carrying out contracts of insurance as principal in accordance with a permission under Part 4A of the 2000 Act;\n(b) it is a registered society, a Northern Ireland industrial and provident society or a Northern Ireland credit union; ;\n(c) it complies with the condition set out in paragraph (2) (the “relevant event condition”); or\n(d) it complies with the condition set out in article 12 (the “core deposit level condition”).\n(2) In relation to a UK deposit-taker, the relevant event condition is—\n(a) that the UK deposit-taker would not be a ring-fenced body but for the occurrence of a relevant event; and\n(b) not more than four years have passed since the date of that relevant event.\n(3) In this article “relevant event”, in relation to a UK deposit-taker, means an event of one of the following kinds—\n(a) as a result of a transfer effected by an instrument or order made under or in accordance with any provision of the Banking Act 2009 the UK deposit-taker or a member of its group—\n(i) acquires property, rights or liabilities from another institution, or\n(ii) acquires securities issued by another institution;\n(b) any other power conferred by or as a result of Part 1 of the Banking Act 2009 is exercised in relation to the UK deposit-taker.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "2009 c. 1."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2014/9780111117118/article/11",
    "retrieved_at": "2026-10-30T15:12:39.417676+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}