# The Financial Services and Markets Act 2000 (Ring-fenced Bodies and Core Activities) Order 2014, Article 5: Qualifying condition for an organisation which is not a body corporate or a partnership


(1) The qualifying condition for an organisation which is not a body corporate or a partnership is that the organisation's gross income for the relevant financial year was more than £6.5 million.
(2) In this article “gross income” means an organisation's gross income from all sources.
(3) For the purpose of paragraph (2)—
(a) the gross income of a charity or a CIO which—
(i) is not entered in the register of charities kept under section 3 of the Charities and Trustee Investment (Scotland) Act 2005 (“the Scottish Charity Register”), and
(ii) is a member of a group as defined in section 141 of the Charities Act 2011 or paragraph 1(5) of Schedule 6 to the Charities (Northern Ireland) Act 2008
includes the gross income of any charity or CIO which is a member of the same group, and
(b) the gross income of a charity or a CIO which—
(i) is entered in the Scottish Charity Register, and
(ii) has one or more subsidiary undertakings (as defined by regulation 1(2) of the Charities Accounts (Scotland) Regulations 2006) ,
includes the gross income of any of those subsidiary undertakings which are charities or CIOs.

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Source: https://www.legislation.gov.uk/uksi/2014/1960/article/5 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-ring-fenced-bodies-and-core-activities-order-2014/article-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.