# The Financial Services and Markets Act 2000 (Ring-fenced Bodies and Core Activities) Order 2014, Article 11: Circumstances in which UK deposit-takers are not ring-fenced bodies


(1) A UK deposit-taker is not a ring-fenced body if—
(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;
(b) it is a registered society, a Northern Ireland industrial and provident society or a Northern Ireland credit union; ;
(c) it complies with the condition set out in paragraph (2) (the “relevant event condition”); or
(d) it complies with the condition set out in article 12 (the “core deposit level condition”).
(2) In relation to a UK deposit-taker, the relevant event condition is—
(a) that the UK deposit-taker would not be a ring-fenced body but for the occurrence of a relevant event; and
(b) not more than four years have passed since the date of that relevant event.
(3) In this article “relevant event”, in relation to a UK deposit-taker, means an event of one of the following kinds—
(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—
(i) acquires property, rights or liabilities from another institution, or
(ii) acquires securities issued by another institution;
(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.

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Source: https://www.legislation.gov.uk/ukdsi/2014/9780111117118/article/11 (the official version)
Page: https://openlegislation.uk/draft-financial-services-and-markets-act-2000-ring-fenced-bodies-and-core-activities-order-2014/article-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.