{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-19B",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014/article-19B.json",
  "legislation": "uksi/2014/2080",
  "legislation_title": "The Financial Services and Markets Act 2000 (Excluded Activities and Prohibitions) Order 2014",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-excluded-activities-and-prohibitions-order-2014",
  "path": "article/19B",
  "kind": "article",
  "number": "19B",
  "heading": "Financial institution exposures: changes in status of counterparties",
  "text": "(1) Subject to paragraph (2), where a ring-fenced body incurs a prohibited financial institution exposure as a result of a counterparty to a transaction becoming a relevant financial institution at any time after the date upon which the transaction was entered into, that exposure is permitted for a period of twelve months commencing on the date upon which the counterparty became a relevant financial institution.\n(2) A ring-fenced body is not permitted to incur the prohibited financial institution exposure by virtue of paragraph (1) where, at the time the transaction was entered into, the ring-fenced body knew, or could reasonably be expected to have known, that the counterparty would become a relevant financial institution.\n(3) In this article, “prohibited financial institution exposure” means a financial institution exposure which would be prohibited under article 14(1) if it was not permitted under this article.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "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)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Word in art. 19B(1) inserted (4.2.2025) by 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(6)(a)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Word in art. 19B(2) inserted (4.2.2025) by 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(6)(b)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Art. 19B(3) inserted (4.2.2025) by 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(6)(c)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2014/2080/article/19B",
    "retrieved_at": "2026-10-29T00:07:08.968961+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."
}