Corporation Tax Act 2009 section 133G

Meaning of "relevant regulated activity"

Section 133G defines what counts as a "relevant regulated activity" for the purposes of determining whether a company is a banking company or an excluded company under sections 133E and 133F.

• A "relevant regulated activity" is one that is regulated under the Financial Services and Markets Act 2000 (FISMA 2000) by virtue of specific provisions in the Regulated Activities Order 2001
• The six qualifying activities are: accepting deposits, dealing in investments as principal, dealing in investments as agent, arranging deals in investments, safeguarding and administering investments, and regulated mortgage contracts
• For activities carried on before 1 December 2001, you apply the definition as if FISMA 2000 and the Regulated Activities Order were already in force in the form they took on that date
• This definition is central to identifying which companies fall within the special tax rules for banking companies and which are excluded from those rules