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  1. Point in time
    2009-11-01

BIPRU 10.11 Notification procedures for BIPRU 10.7 to BIPRU 10.10

BIPRU 10.11.1R

  1. (1)

    A firm may not apply BIPRU 10.7 (Treasury concession and intra-group securities financing transactions) or BIPRU 10.8 (UK integrated groups) unless it has given one Month's prior notice to the FSA that it intends do so.

  2. (2)

    The written notice referred to in (1) must explain how the firm meets the conditions for the application of the treatment in question and how it will ensure that it will still meet the requirements of BIPRU 10 on a continuing basis when using the relevant treatment.

  3. (3)

    A firm may stop applying BIPRU 10.7 or BIPRU 10.8 if it has given one Month's prior notice to the FSA that it intends do so.

  4. (4)

    If a firm stops applying BIPRU 10.7 or BIPRU 10.8 it may start to apply it again if it notifies the FSA under (1) that it intends do so.

  5. (5)

    A firm need only give the FSA the notice required in (1) once rather than with respect to each exposure.

BIPRU 10.11.2R

A firm must notify the FSA if it becomes aware that any exposure that it has treated as exempt under BIPRU 10.7 (Treasury concession and intra-group securities financing transactions) or any counterparty that it has been treating as a member of its UK integrated group or, if BIPRU 10.9 (Wider Integrated Group) applies, its wider integrated group has ceased to meet the conditions for application of the relevant treatment.