(1) A ring-fenced body is prohibited from incurring a financial institution exposure unless at least one of the exemptions set out in paragraphs (2) to (6) or in articles 15 to 19B applies, and, for the avoidance of doubt, provided that one of these exemptions applies in relation to a particular exposure, it is irrelevant whether the conditions for any other exemption are satisfied by that exposure.
(2) A ring-fenced body may incur a financial institution exposure if the sole or main purpose of the transaction giving rise to the exposure (by itself or in combination with other transactions) is to limit the extent to which -
(a) the ring-fenced body,
(b) any subsidiary undertaking of the ring-fenced body,
(ba) another ring-fenced body within the same group as the ring-fenced body,
(bb) a related undertaking within the same group as the ring-fenced body,
(c) any sponsored structured finance vehicle of the ring-fenced body,
(d) any conduit vehicle of the ring-fenced body, or
(e) any combi
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