{
  "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-ring-fenced-bodies-and-core-activities-order-2014/article-2",
  "json_url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-ring-fenced-bodies-and-core-activities-order-2014/article-2.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/2",
  "kind": "article",
  "number": "2",
  "heading": "Circumstances in which accepting a deposit is not a core activity",
  "text": "(1) In relation to a UK deposit-taker, accepting a deposit is not a core activity unless the deposit is a core deposit.\n(2) A deposit is a core deposit if it is held with the UK deposit-taker in an EEA account except where one or more of the account holders is—\n(a) a relevant financial institution;\n(b) a qualifying organisation;\n(c) a qualifying group member; or\n(d) an eligible individual.\n(3) In this article—\n(a) a reference to an account held with a UK deposit-taker is to an account provided by the institution as part of its activity of accepting deposits;\n(b) an account is an EEA account if it was opened at a branch of the UK deposit-taker located in an EEA state;\n(c) “branch” means a place of business that forms a legally dependent part of the UK deposit-taker and conducts directly all or some of the operations inherent in its business;\n(d) “relevant financial institution” has the meaning given in the excluded activities and prohibitions order.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2014/9780111117118/article/2",
    "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."
}