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

Meaning of eligible individual

9.—(1) An individual is an eligible individual in relation to a UK deposit-taker if—

(a) that individual has provided to that UK deposit-taker a statement complying with paragraph (2) (a “declaration of eligibility”); and

(b) that declaration of eligibility is—

(i) accompanied by a statement signed and dated by a recognised accountant in accordance with paragraph (5) (a “confirming statement”), or

(ii) accepted by the UK deposit-taker to which that declaration is given without a confirming statement, in accordance with paragraph (6).

(2) A declaration of eligibility must—

(a) confirm that the individual giving the declaration meets the condition in paragraph (3);

(b) specify the period in respect of which the individual giving the declaration has calculated that they meet the condition in paragraph (3) (the “eligibility calculation period”); and

(c) be signed and dated by the individual giving the declaration.

(3) The condition mentioned in paragraph (2)(a) is that on average during the eligibility calculation period the individual giving the declaration of eligibility held assets to the value of not less than £250,000, as calculated in accordance with article 10.

(4) An eligibility calculation period specified in a declaration of eligibility in accordance with paragraph (2)(b) must be a period of twelve months ending on a day which falls not more than three months before the date of the declaration of eligibility in which it is specified.

(5) A confirming statement given in accordance with paragraph (1)(b)(i) must state that the recognised accountant signing the statement has reviewed—

(a) the declaration of eligibility; and

(b) any information relating to the assets on which the declaration of eligibility is based—

(i) of which the recognised accountant was aware at the time at which the recognised accountant was asked to make the confirming statement, or

(ii) which the recognised accountant has subsequently requested from the individual giving the declaration of eligibility,

and that nothing has come to the recognised accountant’s attention which suggests that the declaration of eligibility is false.

(6) A UK deposit-taker may accept a declaration of eligibility without a confirming statement if it is satisfied that the declaration of eligibility is true.

(7) The date of a declaration of eligibility is the date given by the individual making the declaration when that individual dates the declaration.