Version status: Omitted | Document consolidation status: Updated to reflect all known changes
Version date: 1 December 2016 - onwards
  Version 3 of 3    

Article 7 Requirements concerning currency when qualifying organisation declaration accompanied by annual accounts

Omitted from 1 December 2016

(1) If an organisation gives to a UK deposit-taker a qualifying organisation declaration which is accompanied by annual accounts in accordance with article 3(2)(b)(i), those annual accounts must be -

(a) in sterling; or

(b) accompanied by a set of those annual accounts with figures converted into sterling.

(2) The conversion must be made by reference to an appropriate spot rate of exchange as at the last day of the period in respect of which the annual accounts are made up.