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| '''Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 Article 5, {{nutshell}} version'''<br><br>
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| '''Accepting deposits'''<br>
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| 5(1) '''Regulated Activity''': Accepting deposits is a regulated if— <br>
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| :(a) '''Onlending''': The acceptor on-lends the deposit; or
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| :(b) '''Financing''': The deposit materially finances the acceptor’s business.
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| 5(2) '''Meaning of “deposit”''': A “deposit” is a payment, not excluded by any of articles 6 to 9A<ref>Note, importantly, Article 9 of the [[RAO]], whcih excludes debt securities with a term of longer than 12 monts.</ref> which:
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| :(a) '''Must be repaid''': Must be repaid on demand or at an agreed time or in agreed circumstances; and <br>
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| :(b) '''Payment is not in return for goods and services or as security''': Is not for goods or services or as security for any obligation of the acceptor.
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| 5(3) '''Meaning of “in return for goods and services or as security”''': a payment in return for goods and services or as security means one made:
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| :(a) '''Sale rental or supply contract''': Under a contract for the sale, hire or supply of goods or services, where it would only be repayable if the goods or services were not provided; or
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| :(b) '''Performance security''': As security for the performance of or loss under a contract; or
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| :(c) '''Property security''': As security for the delivery or return of any property.
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