PART 2 U.K.EXCLUDED ACTIVITIES AND EXCEPTIONS

Excluded activities: derivatives U.K.

9.  A ring-fenced body does not carry on an excluded activity by entering into transactions with any one or more of its account holders if—

(a) the transaction satisfies the requirements listed in article 10 or 11(1), (2), or (3), and

(b) all the conditions set out in article 12 are satisfied.

Commencement Information

I1 Art. 9 in force at 1.1.2019, see art. 1(3)