Article 9 Excluded activities: derivativesI1
A ring-fenced body does not carry on an excluded activity by entering into transactions with any one or more of its account holders if—
(a)
the transaction satisfies the requirements listed in article 10 or 11(1), F1(2), (3) or (4), and
(b)
all the conditions set out in article 12 are satisfied.
Annotations
Textual amendments
- F1
Words in art. 9(a) substituted (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), 9(4)
Commencement
- I1
Art. 9 in force at 1.1.2019, see art. 1(3)