The Financial Services and Markets Act 2000 (Ring-fenced Bodies and Core Activities) (Amendment) Order 2018 No. 897

Amendments to the Financial Services and Markets Act 2000 (Ring-fenced Bodies and Core Activities) Order 2014

2.—(1) The Financial Services and Markets Act 2000 (Ring-fenced Bodies and Core Activities) Order 2014(1) is amended as follows.

(2) In article 2 (circumstances in which accepting a deposit is not a core activity)—

(a) in paragraph (2)—

(i) after sub-paragraph (c) omit “or”;

(ii) after sub-paragraph (d) insert—

“or

(e) a person who is, or at any time within the previous six months has been, subject to financial sanctions.”;

(b) in paragraph (3), after sub-paragraph (d) insert—

“(e) “financial sanctions” means any prohibition or obligation imposed under financial sanctions legislation as defined in section 143(4) of the Policing and Crime Act 2017(2).”.

(1)

S.I. 2014/1960, amended by S.I. 2016/1032.

(2)

2017 c. 3. Section 143 is amended by paragraph 8 of Schedule 3 to the Sanctions and Anti-Money Laundering Act 2018 (c. 13) but those amendments are not yet in force.