The Financial Services and Markets Act 2000 (Ring-fenced Bodies and Core Activities) (Amendment) Order 2018

• Citation: S.I. 2018/897
• Sections: 2

Section 1 Citation and commencement

(1) This Order may be cited as the Financial Services and Markets Act 2000 (Ring-fenced Bodies and Core Activities) (Amendment) Order 2018.

(2) This Order comes into force on 31st October 2018.

Section 2 Amendments to the Financial Services and Markets Act 2000 (Ring-fenced Bodies and Core Activities) Order 2014

(1) The Financial Services and Markets Act 2000 (Ring-fenced Bodies and Core Activities) Order 2014 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 .