Treasury has published an alternative version of the draft Order to be made under the Banking Structure Reform Bill setting out circumstances in which entities are not ring-fenced bodies and the customers whose deposits need not be ring-fenced. There is no separate explanatory note for the alternative version, which contains changed provisions on how to assess which customers’ deposits need not fall within the ring fence. See also FReD 15 March.(Source: Treasury Publishes Alternative Ring-Fencing Legislation)