The Financial Services and Markets Act 2000 (Ring-fenced Bodies and Core Activities) Order 2014 and explanatory memorandum have been published on www.legislation.gov.uk.

The Order defines the circumstances when accepting a deposit is not a core activity under section 142B of the Financial Services and Markets Act 2000 (FSMA), as amended by the Financial Services (Banking Reform) Act 2013, so that the deposits in question may be held by banks that are not ring-fenced bodies. It also exempts certain banks from the definition of ring-fenced body under section 142A of FSMA.

The Order was made on 23 July 2014, and will come into force on 1 January 2015.

View The Financial Services and Markets Act 2000 (Ring-fenced Bodies and Core Activities) Order 2014, 23 July 2014

View Explanatory memorandum to the Financial Services and Markets Act 2000 (Ring-Fenced Bodies and Core Activities) Order 2014, 23 July 2014