(1) The Financial Services and Markets Act 2000 (Carrying on Regulated Activities by Way of Business) Order 2001 [S.I. 2001/1177 has been amended but the amendments are not relevant to this Order.] is amended as follows.

(2) In article 2 (deposit taking business) after paragraph (2) insert -

"(3) A person ("B") who carries on an activity of the kind specified by article 5(1) (b) of the Regulated Activities Order [S.I. 2001/544 has been amended but the amendments are not relevant to this Order.] (accepting deposits) is not to be regarded as doing so by way of business if -

(a) the activity is facilitated by a person ("A");

(b) in facilitating the activity, A was operating an electronic system in relation to lending;

(c) B is not a credit institution or an authorised person [Defined in section 417 of the Financial Services and Markets Act 2000 c.8.];

(d) B is not carrying on the business of accepting deposits;

(e) B does not hold themselves out as accepting deposits on a day to day basis, other than where the holding-out is facilitated by persons engaged in operating an electronic system in relation to lending.