Schedule 1, paragraph 5(3)

The purposes are— enabling a UK authorised person to carry on core activities as a ring-fenced body in compliance with the ring-fencing provisions; enabling the transferee to carry on core activities as a ring-fenced body in compliance with the ring-fencing provisions; making provision in connection with the implementation of proposals that would involve a body corporate whose group includes the body corporate to whose business the scheme relates becoming a ring-fenced body while one or more other members of its group are not ring-fenced bodies; making provision in connection with the implementation of proposals that would involve a body corporate whose group includes the transferee becoming a ring-fenced body while one or more other members of the transferee's group are not ring-fenced bodies.

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Source: legislation.gov.uk · retrieved 2026-09-04