The Financial Services and Markets Act 2000 (Ring-fenced Bodies and Core Activities) Order 2014
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Change 1
5 Qualifying condition for an organisation which is not a body corporate or a partnership
(1) The qualifying condition for an organisation which is not a body corporate or a partnership is that the organisation's gross income for the relevant financial year was more than £6.5 million. (2) In this article “gross income” means an organisation's gross income from all sources. (3) For the purpose of paragraph (2)— (a) the gross income of a charity or a CIO which— (i) is not entered in the register of charities kept under section 3 of the Charities and Trustee Investment (Scotland) Act 2005 (“the Scottish Charity Register”), and (ii) is a member of a group as defined in section 141 of the Charities Act 2011 or paragraph 1(5) of Schedule 6 to the Charities (Northern Ireland) Act 2008 includes the gross income of any charity or CIO which is a member of the same group, and (b) the gross income of a charity or a CIO which— (i) is entered in the Scottish Charity Register, and (ii) has one or more subsidiary undertakings (as defined by regulation 1(2) of the Charities Accounts (Scotland) Regulations 2006) , includes the gross income of any of those subsidiary undertakings which are charities or CIOs.
5 Qualifying condition for an organisation which is not a body corporate or a partnership
(1) The qualifying condition for an organisation which is not a body corporate or a partnership is that the organisation's gross income for the relevant financial year was more than £6.5 million. (2) In this article “gross income” means an organisation's gross income from all sources. (3) For the purpose of paragraph (2)— (a) the gross income of a charity or a CIO which— (i) is not entered in the register of charities kept under section 3 of the Charities and Trustee Investment (Scotland) Act 2005 (“the Scottish Charity Register”), and (ii) is a member of a group as defined in section 141 of the Charities Act 2011 or paragraph 1(5) of Schedule 6 to the Charities (Northern Ireland) Act 2008 includes the gross income of any charity or CIO which is a member of the same group, and (b) the gross income of a charity or a CIO which— (i) is entered in the Scottish Charity Register, and (ii) has one or more subsidiary undertakings (as defined by regulation 1(2) of the Charities Accounts (Scotland) Regulations 2006) , includes the gross income of any of those subsidiary undertakings which are charities or CIOs.
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