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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

state finance organisation

    30a legal person other than a company:

      1. (a) which is a national of a state180;
      1. (b) which is set up by or pursuant to a special law;
      1. (c) whose activities are governed by that law and consist solely of raising funds under state control through the issue of debt securities;
      1. (d) which is financed by means of the resources they have raised and resources provided by the state180; and
      1. (e) the debt securities issued by it are considered by the law of the relevant state180 as securities issued or guaranteed by that state.