# The Small and Medium Sized Business (Finance Platforms) Regulations 2015, Regulation 10: Criteria for the designation of a bank


(1) The Treasury may designate a bank only if it is—
(a) an institution that is a bank for the purposes of Part 1 of the Banking Act 2009, or
(b) a finance provider that is a member of a banking group as defined in section 1164 of the Companies Act 2006.
(2) The Treasury must revoke the designation of a bank that no longer falls within paragraph (1)(a) or (b).
(3) In considering whether to designate a bank or revoke the designation of a bank, the Treasury must have regard to—
(a) the value of current lending by the bank to small and medium sized businesses;
(b) such value as a proportion of the total value of current lending to small and medium sized businesses;
(c) the importance to the economy in Northern Ireland of the bank’s current lending to small and medium sized businesses.
(4) In considering whether to designate a bank or to revoke the designation of a bank, the Treasury may also have regard to such other matters as they consider appropriate.

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Source: https://www.legislation.gov.uk/ukdsi/2015/9780111138939/regulation/10 (the official version)
Page: https://openlegislation.uk/draft-small-and-medium-sized-business-finance-platforms-regulations-2015/regulation-10
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.