The Financial Services and Markets Act 2000 (Excluded Activities and Prohibitions) Order 2014

[F1Financial institution exposures: financing of infrastructure projectsU.K.

This section has no associated Explanatory Memorandum

19A.—(1) A ring-fenced body may incur a financial institution exposure to a relevant financial institution (“A”) where—

(a)A is an infrastructure special purpose vehicle; and

(b)the exposure arises from financial assistance given by the ring-fenced body to A.

(2) For the purposes of this article—

(a)“financial assistance” means—

(i)loans,

(ii)guarantees or indemnities, or

(iii)the purchase of bonds or notes.

(b)“infrastructure special purpose vehicle” means an entity the only business of which (apart from incidental activities) is financing the acquisition, design, construction, conversion, improvement, operation and repair of infrastructure within [F2the United Kingdom or] the EEA.

(c)“infrastructure” means—

(i)housing,

(ii)water, electricity, gas, telecommunications, sewerage or other services,

(iii)railway facilities (including rolling stock), roads or other transport facilities,

(iv)health or educational facilities, and

(v)court or prison facilities.]

Textual Amendments