# The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, Paragraph 1: Accepting deposits


Accepting deposits is a controlled activity if—
(a) money received by way of deposit is lent to others; or
(b) any other activity of the person accepting the deposit is financed wholly, or to a material extent, out of the capital of or interest on money received by way of deposit,
and the person accepting the deposit holds himself out as accepting deposits on a day to day basis.

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Source: https://www.legislation.gov.uk/uksi/2005/1529/schedule/1/paragraph/1 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-financial-promotion-order-2005/schedule-1/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.