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

Meaning of qualifying group member

8.—(1) An organisation is a qualifying group member in relation to a UK deposit-taker if that organisation has provided to that UK deposit-taker a declaration in accordance with paragraph (2) (a “qualifying group member declaration”).

(2) A qualifying group member declaration must—

(a) contain a statement that the organisation giving the declaration is a member of the same group(1) as a qualifying organisation (the “relevant qualifying organisation”); and

(b) be either—

(i) accompanied by a declaration (a “supporting declaration”) which complies with paragraph (3), or

(ii) accepted by the UK deposit-taker to which the declaration is given without being accompanied by a supporting declaration, in accordance with paragraph (4).

(3) In relation to a qualifying group member declaration, a supporting declaration must consist of a qualifying organisation declaration for the relevant qualifying organisation which—

(a) has previously been provided to a UK deposit-taker (other than the UK deposit-taker to which the qualifying group member declaration is being given); or

(b) will accompany the qualifying group member declaration when that qualifying group member declaration is provided to the UK deposit-taker concerned.

(4) A UK deposit-taker may accept a qualifying group member declaration without a supporting declaration if, at the date on which it receives that qualifying group member declaration, it has previously received a qualifying organisation declaration for the relevant qualifying organisation.

(1)

“Group” is defined in section 421 of the 2000 Act.