Article 19A Financial institution exposures: financing of infrastructure projectsF1

(1)

A ring-fenced body may incur a financial institution exposure to a relevant financial institution (“A”) where—

(a)

A is an infrastructure special purpose vehicle; and

(b)

the exposure arises from financial assistance given by the ring-fenced body to A.

(2)

For the purposes of this article—

(a)

“financial assistance” means—

(i)

loans,

(ii)

guarantees or indemnities, or

(iii)

the purchase of bonds or notes.

(b)

“infrastructure special purpose vehicle” means an entity the only business of which (apart from incidental activities) is financing the acquisition, design, construction, conversion, improvement, operation and repair of infrastructure F2....

(c)

“infrastructure” means—

(i)

housing,

(ii)

water, electricity, gas, telecommunications, sewerage or other services,

(iii)

railway facilities (including rolling stock), roads or other transport facilities,

(iv)

health or educational facilities, and

(v)

court or prison facilities.

Annotations

Textual amendments

F1: Arts. 19A, 19B inserted (1.12.2016) by The Financial Services and Markets Act 2000 (Ring-fenced Bodies, Core Activities, Excluded Activities and Prohibitions) (Amendment) Order 2016 (S.I. 2016/1032), arts. 1(2), 3(10)
F2: Words in art. 19A(2)(b) omitted (4.2.2025) by virtue of The Financial Services and Markets Act 2000 (Ring-fenced Bodies, Core Activities, Excluded Activities and Prohibitions) (Amendment) Order 2025 (S.I. 2025/30), arts. 1(2), 10(5)