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The Financial Services and Markets Act 2000 (Ring-fenced Bodies and Core Activities) Order 2014
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- UK Statutory Instruments
- 2014 No. 1960
- PART 2
- Article 3
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Version Superseded: 01/12/2016
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- 01/01/2015- Amendment
- 01/01/2015
Point in time - 01/12/2016- Amendment
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Meaning of qualifying organisationU.K.
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3.—(1) An organisation is a qualifying organisation in relation to a UK deposit-taker if it has given to that UK deposit-taker a declaration in accordance with paragraph (2) (a “qualifying organisation declaration”).
(2) A qualifying organisation declaration must—
(a)contain a statement signed and dated by or on behalf of the organisation giving the declaration (the “declaring organisation”) confirming that the organisation met the relevant qualifying condition in the relevant financial year; and
(b)be accompanied by either—
(i)a copy of the annual accounts prepared by that organisation for the relevant financial year, or
(ii)a statement signed and dated by a recognised accountant (a “confirming statement”) in accordance with article 6.
(3) The relevant qualifying condition is set out—
(a)in the case of a body corporate M1 or a partnership, in article 4;
(b)in the case of an organisation which is not a body corporate or a partnership, in article 5.
(4) For the purpose of this article, in relation to an organisation giving a qualifying organisation declaration to a UK deposit-taker, the relevant financial year is—
(a)the last complete financial year of that organisation that ended before the beginning of the financial year of that organisation in which the qualifying organisation declaration is being given; or
(b)if the declaration is being given by that organisation during its first financial year, the period—
(i)beginning at midnight at the end of the day before the day on which the organisation was first established, and
(ii)ending at midnight on a day which is not more than three months before the date of the qualifying organisation declaration.
(5) The date of a qualifying organisation declaration is the date given by the organisation making the declaration when that organisation dates the statement referred to in paragraph (2)(a).
Marginal Citations
M1“Body corporate” is defined in section 417(1) of the 2000 Act. There are amendments to that section, but none are relevant to this Order.
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