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Statutory Instruments

2001 No. 1217

FINANCIAL SERVICES AND MARKETS

The Financial Services and Markets Act 2000 (Appointed Representatives) Regulations 2001

Made

28th March 2001

Laid before Parliament

28th March 2001

Coming into force in accordance with article 1(1)

The Treasury, in exercise of the powers conferred on them by sections 39(1) and 417(1)( 1 ) of the Financial Services and Markets Act 2000( 2 ) (“the Act”), hereby make the following Regulations:

Citation, commencement and interpretation I1

1. —(1) These Regulations may be cited as the Financial Services and Markets Act 2000 (Appointed Representatives) Regulations 2001, and come into force on the day on which section 19 of the Act comes into force.

(2) In these Regulations—

Descriptions of business for which appointed representatives are exempt I2

2.[F11—(1)F11][F12 Subject to paragraph (2), F12] any business which comprises—

[F13 (za) an activity of the kind specified by article 21 of the Regulated Activities Order (dealing in investments as agent), where the transaction relates to—

(i) a contract of insurance which is not a qualifying contract of insurance or a contract of long-term care insurance; or

(ii) a funeral plan contract. F13]

[F14 (zb) an activity of the kind specified by article 24A of the Regulated Activities Order (bidding in emissions auctions), where that activity does not consist either of a person dealing on his own account or of the execution of orders on behalf of clients within the meaning of Part 3 of Schedule 2 to that Order; F14]

(a) an activity of the kind specified by article 25 of [F15 that Order F15] (arranging deals in investments), where the arrangements are for or with a view to transactions relating to securities [F16 , relevant investments or structured depositsF16] ;

[F17 (ab) an activity of the kind specified by article 25A of that Order (arranging regulated mortgage contracts); F17]

[F18 (aba) an activity of the kind specified by article 25B of that Order (arranging regulated home reversion plans);

(abb) an activity of the kind specified by article 25C of that Order (arranging regulated home purchase plans); F18]

[F19 (abc) an activity of the kind specified by article 36A of that Order (credit broking); F19]

[F20 (abd) an activity of the kind specified by article 36H (operating an electronic system in relation to lending) of that Order; F20]

[F21 (ac) an activity of the kind specified by article 39A of that Order (assisting in the administration and performance of a contract of insurance); F21]

[F22 (ad) an activity of the kind specified by article 39D of that Order (debt adjusting);

(ae) an activity of the kind specified by article 39E of that Order (debt-counselling);

(af) an activity of the kind specified by article 39F of that Order (debt-collecting);

(ag) an activity of the kind specified by article 39G of that Order (debt administration); F22]

(b) an activity of the kind specified by article 40 of that Order (safeguarding and administering investments), where the activity consists of arranging for one or more other persons to safeguard and administer assets;

[F23 (ba) an activity of the kind specified by article 52B of that Order (providing basic advice on stakeholder products); F23]

(c) F24 an activity of the kind specified by article 53 of that Order (advising on investments); ...

[F25 (ca) an activity of the kind specified by article 53A of that Order (advising on regulated mortgage contracts); F26 ... F25]

[F27 (cb) an activity of the kind specified by article 53B of that Order (advising on regulated home reversion plans);

(cc) an activity of the kind specified by article 53C of that Order (advising on regulated home purchase plans); F28 ... F27]

[F29 (cca) an activity of the kind specified by article 53DA of that Order (advising on regulated credit agreements for the acquisition of land); F29]

[F30 (ccb) an activity of the kind specified by article 53E of that Order (advising on conversion or transfer of pension benefits); F30]

[F31 (cd) an activity of the kind specified by article 60B of that Order (regulated credit agreements) when carried on in relation to a credit agreement (within the meaning of that Order) under which the credit is provided free of interest and without any other charges;

(ce) an activity of the kind specified by article 60N of that Order (regulated consumer hire agreements); F31]

(d) an activity of the kind specified by article 64 of that Order (agreeing to carry on activities), so far as relevant to an activity falling within [F32 sub-paragraph [F33 (za) F33] , (a), (ab), (ac) F32][F34 (ad), (ae), (af), (ag), F34][F35 (aba), (abb), [F36 (abc), F36] (b), (c), (ca), (cb) [F37 , (cc), (cd) or (ce) F37,F35]] ; [F38 or

(e) an activity of the kind specified by article 89A of that Order (providing credit information services); F38]

is prescribed for the purposes of subsection (1)(a)(i) of section 39 of the Act (exemption of appointed representatives).

[F39 (1A) In its application to a contract with a principal who is [F40 a CRR firm, or a relevant investment firm or credit institution, F40] the list in paragraph (1) shall be treated as including in addition—

(a) the activity of placing financial instruments[F41 or structured depositsF41] ,

(b) the activity of providing advice to clients or potential clients in relation to the placing of financial instruments[F42 or structured depositsF42] .

[F43 (1B) In paragraph (1A)—

“ clients ” has the meaning given in Article 2.1.7 of the markets in financial instruments regulation;

“ CRR firm ” has the meaning given in Article 4.1.2A of the capital requirements regulation, except that it does not include an investment firm;

“ financial instruments ” has the meaning given in Article 2.1.9 of the markets in financial instruments regulation;

“ relevant investment firm or credit institution ” means a person falling within Article 1.2(a)(i) of the markets in financial instruments regulation. F43]

F44 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F44 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F39]

Requirements applying to contracts between authorised persons and appointed representatives I3

3. —(1)[F45 It is a prescribed requirement for the purposes of section 39(1)(a)(ii) of the Act that a contract between a principal and a representativeF45] must (unless it prohibits the representative from representing other counterparties) contain a provision enabling the principal to—

(a) impose such a prohibition; or

(b) impose restrictions as to the other counterparties which the representative may represent, or as to the types of investment in relation to which the representative may represent other counterparties.

F46 (1A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2) For the purposes of paragraph (1) a representative is to be treated as representing other counterparties where he—

[F47 (aa) he enters into investment transactions as agent (in circumstances constituting the carrying on of an activity of the kind specified by article 21 of the Regulated Activities Order) for other counterparties; F47]

(a) makes arrangements (in circumstances constituting the carrying on of an activity of the kind specified by article 25 of [F48 that Order F48] ) for persons to enter (or with a view to persons entering) into investment transactions with other counterparties;

[F49 (ab) he assists in the administration and performance of a contract of insurance (in circumstances constituting the carrying on of an activity of the kind specified by article 39A of that Order) for other counterparties; F49]

(b) arranges (in circumstances constituting the carrying on of an activity of the kind specified by article 40 of that Order) for other counterparties to safeguard and administer assets; or

(c) gives advice (in circumstances constituting the carrying on of an activity of the kind specified by article [F50 53(1) F50] of that Order) on the merits of entering into investment transactions with other counterparties;

where an “investment transaction” means a transaction to buy, sell, subscribe for or underwrite an investment which is a security [F51 , a relevant investment or a structured depositF51] .

[F52 (3) A representative is also to be treated as representing other counterparties for the purposes of paragraph (1) where he—

(a) makes arrangements (in circumstances constituting the carrying on of an activity of the kind specified by article 25A of that Order)—

(i) for persons to enter (or with a view to persons entering) as borrowers into regulated mortgage contracts with other counterparties, or

(ii) for a person to vary a regulated mortgage contract entered into by a person as borrower after the coming into force of article 61 of that Order with other counterparties; F53 ...

(b) gives advice (in circumstances constituting the carrying on of an activity of the kind specified by article 53A of that Order) on the merits of—

(i) persons entering as borrowers into regulated mortgage contracts with other counterparties, or

(ii) persons varying regulated mortgage contracts entered into by them as borrower after the coming into force of article 61 of that Order [F54 with other counterparties; or

(c) gives advice (in circumstances constituting the carrying on of an activity of the kind specified by article 53DA of that Order) which consists of the provision of personal recommendations to a person in respect of one or more transactions with other counterparties. F54,F52]]

[F55 (3A) A representative is also to be treated as representing other counterparties for the purposes of paragraph (1) where he—

(a) makes arrangements (in circumstances constituting the carrying on of an activity of the kind specified by article 25B of that Order)—

(i) for a person to enter (or with a view to a person entering) as reversion seller or plan provider into a regulated home reversion plan with other counterparties, or

(ii) for a person to vary a regulated home reversion plan entered into on or after 6th April 2007 by him as reversion seller or plan provider with other counterparties; or

(b) gives advice (in circumstances constituting the carrying on of an activity of the kind specified by article 53B of that Order) on the merits of—

(i) a person entering as reversion seller or plan provider into a regulated home reversion plan with other counterparties, or

(ii) a person varying a regulated home reversion plan entered into on or after 6th April 2007 by him as reversion seller or plan provider with other counterparties.

(3B) A representative is also to be treated as representing other counterparties for the purposes of paragraph (1) where he—

(a) makes arrangements (in circumstances constituting the carrying on of an activity of the kind specified by article 25C of that Order)—

(i) for a person to enter (or with a view to a person entering) as home purchaser into a regulated home purchase plan with other counterparties, or

(ii) for a person to vary a regulated home purchase plan entered into on or after 6th April 2007 by a person as home purchaser with other counterparties; or

(b) gives advice (in circumstances constituting the carrying on of an activity of the kind specified by article 53C of that Order) on the merits of—

(i) a person entering as home purchaser into a regulated home purchase plan with other counterparties, or

(ii) a person varying a regulated home purchase plan entered into on or after 6th April 2007 by him as home purchaser with other counterparties. F55]

[F56 (3C) A representative is also to be treated as representing other counterparties for the purposes of paragraph (1) where the representative effects introductions (in circumstances constituting the carrying on of an activity of the kind specified by article 36A of that Order) of individuals or relevant recipients of credit (within the meaning of that Order) to other counterparties.

[F57 (3CA) A representative is also to be treated as representing other counterparties for the purposes of paragraph (1) where the representative—

(a) facilitates persons becoming the lender and borrower under an article 36H agreementF58 ... on behalf of other counterparties;

[F59 (aa) facilitates a person assuming the rights of the lender under an article 36H agreement by assignment or operation of law on behalf of other counterparties; F59]

(b) carries on any of the other activities specified in article 36H(3) of that Order on behalf of other counterparties in the course of, or in connection with, facilitation as mentioned in [F60 sub-paragraph (a) or (aa) F60] . F57]

[F61 (c) gives advice (in circumstances constituting the carrying on of activity of the kind specified by article 53(2) of that Order) on the merits of—

(i) a person entering into a relevant article 36H agreement as a lender or assuming the rights of a lender under such an agreement by assignment or operation of law,

(ii) a person providing instructions to an operator with a view to entering into a relevant article 36H agreement as a lender or assuming the rights of a lender under such an agreement by assignment or operation of law, where the instructions involve—

(aa) accepting particular parameters for the terms of the agreement presented by an operator,

(bb) choosing between options governing the parameters of the terms of the agreement presented by an operator, or

(cc) specifying the parameters of the terms of the agreement by other means,

(iii) a person enforcing or exercising the lender's rights under a relevant article 36H agreement, or

(iv) a person assigning rights under a relevant article 36H agreement,

on behalf of other counterparties. F61]

[F62 (3CB) In paragraph (3CA)—

“ article 36H agreement ” has the meaning given by article 36H of the Regulated Activities Order,

“ lender ” has the meaning given by article 36H of the Regulated Activities Order,

“ operator ” means a person carrying on an activity of the kind specified by article 36H(1) or (2D), and

“ relevant article 36H agreement ” means an article 36H agreement which has been, or is to be, entered into with the facilitation of a person carrying on a regulated activity of the kind specified by article 36H(1) or (2D) not in contravention of the general prohibition. F62]

(3D) A representative is also to be treated as representing other counterparties for the purposes of paragraph (1) where the representative takes steps (in circumstances constituting the carrying on of an activity of the kind specified by article 39D of that Order) on behalf of other counterparties.

(3E) A representative is also to be treated as representing other counterparties for the purposes of paragraph (1) where the representative gives advice to a borrower (in circumstances constituting the carrying on of an activity of the kind specified by article 39E F63 ... of that Order) about the liquidation of a debt due under a credit agreement or consumer hire agreement (in each case, within the meaning of that Order) on behalf of other counterparties.

(3F) A representative is also to be treated as representing other counterparties for the purposes of paragraph (1) where the representative takes steps (in circumstances constituting the carrying on of an activity of the kind specified by article 39F of that Order) to procure the payment of debts on behalf of other counterparties.

(3G) A representative is also to be treated as representing other counterparties for the purposes of paragraph (1) where the representative performs duties (in circumstances constituting the carrying on of an activity of the kind specified by article 39G of that Order) under, or exercises or enforces rights under, an agreement on behalf of other counterparties.

[F64 (3GA) A representative is also to be treated as representing other counterparties for the purposes of paragraph (1) where the representative gives advice (in circumstances constituting the carrying on of an activity of the kind specified by article 53E of that Order) on behalf of other counterparties. F64]

(3H) A representative is also to be treated as representing other counterparties for the purposes of paragraph (1) where the representative enters into regulated credit agreements or exercises or has the right to exercise the lender's rights and duties under such agreements (in circumstances constituting the carrying on of an activity of the kind specified by article 60B of that Order) on behalf of other counterparties

(3I) A representative is also to be treated as representing other counterparties for the purposes of paragraph (1) where the representative enters into regulated consumer hire agreements or exercises or has the right to exercise the owner's rights and duties under such agreements (in circumstances constituting the carrying on of an activity of the kind specified by article 60N of that Order) on behalf of other counterparties. F56]

[F65 (3J) A representative is also to be treated as representing other counterparties for the purposes of paragraph (1) where the representative takes steps on behalf of or gives advice to an individual or a relevant recipient of credit in relation to the taking of any steps (in circumstances constituting the carrying on of an activity of the kind specified by article 89A of that Order) on behalf of other counterparties. F65]

[F66 (4) Where the contract between the principal and the representative permits or requires the representative to carry on business which includes an activity—

(a) of the kind specified by article 21, 25, 39A or 53 of the Regulated Activities Order or an activity of the kind specified by article 64 of that Order, so far as relevant to any of those articles, and

(b) which relates to a contract of insurance,

paragraph (5) applies.

(5) Where this paragraph applies, it is also a prescribed requirement for the purposes of subsection (1)(a)(ii) of section 39 of the Act that the contract between the principal and the representative contain a provision providing that the representative is not permitted or required to carry on business, so far as it comprises an activity of the kind specified by paragraph (4), unless he is included in the record maintained by the [F67FCAF67] under section 347 of the Act by virtue of article 93 of the Regulated Activities Order (recorded insurance intermediaries). F66]

[F68 (6) In the case of a representative to whom section 39(1A) or (1AA) of the Act applies (“R”), it is a prescribed requirement for the purposes of section 39(1)(a)(ii) F69 ... that the contract between the principal and R must—

(a) where section 39(1A) of the Act applies to R, contain a provision that R is only permitted to provide the services and carry on the activities referred to in [F70 Part 3 of Schedule 2 to the Regulated Activities OrderF70] while R is entered on the applicable register; or

(b) where section 39(1AA) of the Act applies to R, contain a provision that R is only permitted to sell, or advise clients on, structured deposits as defined by [F71 Article 2.1.23 of the markets in financial instruments regulationF71] while R is entered on the applicable register. F68]

[F72 Transitional provision in relation to contracts

4. Regulation 3(6) does not apply in relation to a contract made on or before 31st October 2007. F72]

Greg Pope

Clive Betts

Two of the Lords Commissioners of Her Majesty’s Treasury

28th March 2001

( 1 )

See definition of “prescribed”.

( 2 )

2000 c. 8 .

( 3 )

S.I. 2001/544 .

Status: There are currently no known outstanding effects for the The Financial Services and Markets Act 2000 (Appointed Representatives) Regulations 2001.
The Financial Services and Markets Act 2000 (Appointed Representatives) Regulations 2001 (2001/1217)

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Status of this instrument

footnotecommentarytransitional and savingsin force statusrelated provisionsgeo extentinsert/omitsource countin force adj
F1Words in reg. 1(2) substituted (31.10.2004 for specified purposes, 14.1.2005 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2003 (S.I. 2003/1476) , arts. 1(3) , 14(2) and amended by S.I. 2004/453 , regs. 1(2)(b) , 2(2) ).substituted
F2Words in reg. 1(2) substituted (1.4.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2017 (S.I. 2017/488) , art. 1(2) , Sch. para. 7(2)substituted
F3Words in reg. 1(2) inserted (31.10.2004) by The Financial Services and Markets Act 2000 (Appointed Representatives) (Amendment) Regulations 2004 (S.I. 2004/453) , regs. 1(2)(a) , 2(3)inserted
F4Words in reg. 1(2) omitted (31.12.2020) by virtue of The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632) , regs. 1(3) , 178(2) (with savings in S.I. 2019/680 , reg. 11 (as amended by S.I. 2019/1212 , regs. 1(3) , 22(3) ); 2020 c. 1 , Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.omitted
F5Words in reg. 1(2) inserted (28.1.2021 for specified purposes, 30.7.2022 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2021 (S.I. 2021/90) , arts. 1(2) (3) , 4(2)inserted
F6Words in reg. 1(2) inserted (6.11.2006 for specified purposes, 6.4.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2006 (S.I. 2006/2383) , arts. 1(2) , 31(2)(a)inserted
F7Words in reg. 1(2) inserted (6.11.2006 for specified purposes, 6.4.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2006 (S.I. 2006/2383) , arts. 1(2) , 31(2)(b)inserted
F8Words in reg. 1(2) inserted (6.11.2006 for specified purposes, 6.4.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2006 (S.I. 2006/2383) , arts. 1(2) , 31(2)(c)inserted
F9Words in reg. 1(2) inserted (31.10.2004) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 1) Order 2003 (S.I. 2003/1475) , arts. 1(3) , 23(2)inserted
F10Words in reg. 1(2) inserted (6.11.2006 for specified purposes, 6.4.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2006 (S.I. 2006/2383) , arts. 1(2) , 31(2)(d)inserted
F11Reg. 2 renumbered as reg. 2(1) (1.12.2001) by The Financial Services and Markets Act 2000 (Appointed Representatives) (Amendment) Regulations 2001 (S.I. 2001/2508) , regs. 1 , 2(a)renumbered
F12Words in reg. 2(1) inserted (1.12.2001) by The Financial Services and Markets Act 2000 (Appointed Representatives) (Amendment) Regulations 2001 (S.I. 2001/2508) , regs. 1 , 2(b)inserted
F13Reg. 2(1)(za) substituted (28.1.2021 for specified purposes, 30.7.2022 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2021 (S.I. 2021/90) , arts. 1(2) (3) , 4(3)substituted
F14Reg. 2(1)(zb) inserted (20.7.2012) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2012 (S.I. 2012/1906) , arts. 1 , 5(b)inserted
F15Words in reg. 2(1)(a) substituted (31.10.2004 for specified purposes, 14.1.2005 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2003 (S.I. 2003/1476) , arts. 1(3) , 14(3)(b)(i)substituted
F16Words in reg. 2(1)(a) substituted (1.4.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2017 (S.I. 2017/488) , art. 1(2) , Sch. para. 7(3)(a) and (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701) , reg. 1(2)(3)(4)(6) , Sch. 3 para. 3(2)(a) (with reg. 7 )this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary.substituted
F17Reg. 2(1)(ab) inserted (31.10.2004) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 1) Order 2003 (S.I. 2003/1475) , arts. 1(3) , 23(3)(a)inserted
F18Reg. 2(1)(aba) (abb) inserted (6.11.2006 for specified purposes, 6.4.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2006 (S.I. 2006/2383) , arts. 1(2) , 31(3)(a)inserted
F19Reg. 2(1)(abc) inserted (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (S.I. 2013/1881) , arts. 1(2) (6) , 15(2)(a)inserted
F20Reg. 2(1)(abd) inserted (1.4.2014) by The Financial Services and Markets Act 2000 (Appointed Representatives) (Amendment) Regulations 2014 (S.I. 2014/206) , regs. 1 , 2(2)inserted
F21Reg. 2(1)(ac) inserted (31.10.2004 for specified purposes, 14.1.2005 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2003 (S.I. 2003/1476) , arts. 1(3) , 14(3)(c) and amended by S.I. 2004/453 , regs. 1(2)(b) , 3(4) .inserted
F22Reg. 2(1)(ad)-(ag) inserted (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (S.I. 2013/1881) , arts. 1(2) (6) , 15(2)(b)inserted
F23Reg. 2(1)(ba) inserted (6.4.2005) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2004 (S.I. 2004/2737) , arts. 1(1) , 5(2)inserted
F24Word in reg. 2(1)(c) omitted (31.10.2004) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 1) Order 2003 (S.I. 2003/1475) , arts. 1(3) , 23(3)(b)omitted
F25Reg. 2(1)(ca) inserted (31.10.2004) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 1) Order 2003 (S.I. 2003/1475) , arts. 1(3) , 23(3)(c)inserted
F26Word in reg. 2(1)(ca) deleted (6.11.2006 for specified purposes, 6.4.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2006 (S.I. 2006/2383) , arts. 1(2) , 31(3)(b)deleted
F27Reg. 2(1)(cb) (cc) inserted (6.11.2006 for specified purposes, 6.4.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2006 (S.I. 2006/2383) , arts. 1(2) , 31(3)(c)inserted
F28Word in reg. 2(1)(cc) omitted (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (S.I. 2013/1881) , arts. 1(2) (6) , 15(2)(c)omitted
F29Reg. 2(1)(cca) inserted (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910) , art. 1(5) , Sch. 1 para. 7(2) (with Pt. 4 )inserted
F30Reg. 2(1)(ccb) inserted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14) , ss. 34(5) , 41(3) (with s. 34(7) ); S.I. 2016/627 , reg. 2(1)(y)this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted
F31Reg. 2(1)(cd) (ce) inserted (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (S.I. 2013/1881) , arts. 1(2) (6) , 15(2)(c)inserted
F32Words in reg. 2(1)(d) substituted (31.10.2004 for specified purposes, 14.1.2005 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2003 (S.I. 2003/1476) , arts. 1(3) , 14(3)(d)substituted
F33Word in reg. 2(1)(d) substituted (20.7.2012) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2012 (S.I. 2012/1906) , arts. 1 , 5(c)substituted
F34Words in reg. 2(1)(d) inserted (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (S.I. 2013/1881) , arts. 1(2) (6) , 15(2)(d)(ii)inserted
F35Words in reg. 2(1)(d) substituted (6.11.2006 for specified purposes, 6.4.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2006 (S.I. 2006/2383) , arts. 1(2) , 31(3)(d)substituted
F36Word in reg. 2(1)(d) inserted (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (S.I. 2013/1881) , arts. 1(2) (6) , 15(2)(d)(i)inserted
F37Words in reg. 2(1)(d) substituted (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (S.I. 2013/1881) , arts. 1(2) (6) , 15(2)(d)(iii)substituted
F38Reg. 2(1)(e) and word inserted (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (S.I. 2013/1881) , arts. 1(2) (6) , 15(2)(e)inserted
F39Reg. 2(1A) (1B) inserted (1.11.2007) by The Financial Services and Markets Act 2000 (Appointed Representatives) (Amendment) Regulations 2006 (S.I. 2006/3414) , regs. 1 , 4(a)inserted
F40Words in reg. 2(1A) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632) , regs. 1(3) , 178(3)(b) (with savings in S.I. 2019/680 , reg. 11 (as amended by S.I. 2019/1212 , regs. 1(3) , 22(3) ); 2020 c. 1 , Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F41Words in reg. 2(1A)(a) inserted (1.4.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2017 (S.I. 2017/488) , art. 1(2) , Sch. para. 7(3)(b)inserted
F42Words in reg. 2(1A)(b) inserted (1.4.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2017 (S.I. 2017/488) , art. 1(2) , Sch. para. 7(3)(b)inserted
F43Reg. 2(1B) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632) , regs. 1(3) , 178(3)(c) (with savings in S.I. 2019/680 , reg. 11 (as amended by S.I. 2019/1212 , regs. 1(3) , 22(3) ); 2020 c. 1 , Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F44Reg. 2(2) (3) omitted (1.11.2007) by virtue of The Financial Services and Markets Act 2000 (Appointed Representatives) (Amendment) Regulations 2006 (S.I. 2006/3414) , regs. 1 , 4(b)omitted
F45Words in reg. 3(1) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632) , regs. 1(3) , 178(4)(a) (with savings in S.I. 2019/680 , reg. 11 (as amended by S.I. 2019/1212 , regs. 1(3) , 22(3) ); 2020 c. 1 , Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F46Reg. 3(1A) omitted (31.12.2020) by virtue of The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632) , regs. 1(3) , 178(4)(b) (with savings in S.I. 2019/680 , reg. 11 (as amended by S.I. 2019/1212 , regs. 1(3) , 22(3) ); 2020 c. 1 , Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.omitted
F47Reg. 3(2)(aa) inserted (31.10.2004 for specified purposes, 14.1.2005 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2003 (S.I. 2003/1476) , arts. 1(3) , 14(4)(a)(i)inserted
F48Words in reg. 3(2)(a) substituted (31.10.2004 for specified purposes, 14.1.2005 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2003 (S.I. 2003/1476) , arts. 1(3) , 14(4)(a)(ii)substituted
F49Reg. 3(2)(ab) inserted (31.10.2004 for specified purposes, 14.1.2005 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2003 (S.I. 2003/1476) , arts. 1(3) , 14(4)(a)(iii)inserted
F50Word in reg. 3(2)(c) substituted (17.3.2016 for specified purposes, 6.4.2016 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392) , arts. 1(2) (3)(d) , 5(2) (with Pt. 5 )substituted
F51Words in reg. 3(2) substituted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701) , reg. 1(2) (3) (4) (6) , Sch. 3 para. 3(3)(a) (with reg. 7 )this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary.substituted
F52Reg. 3(3) inserted (31.10.2004) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 1) Order 2003 (S.I. 2003/1475) , arts. 1(3) , 23(4)inserted
F53Word in reg. 3(3)(a) omitted (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by virtue of The Mortgage Credit Directive Order 2015 (S.I. 2015/910) , art. 1(5) , Sch. 1 para. 7(3)(a) (with Pt. 4 )omitted
F54Reg. 3(3)(c) and words substituted for words (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910) , art. 1(5) , Sch. 1 para. 7(3)(b) (with Pt. 4 )substituted
F55Reg. 3(3A) (3B) inserted (6.11.2006 for specified purposes, 6.4.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2006 (S.I. 2006/2383) , arts. 1(2) , 31(4)inserted
F56Reg. 3(3C)-(3I) inserted (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (S.I. 2013/1881) , arts. 1(2) (6) , 15(3)inserted
F57Reg. 3(3CA) inserted (1.4.2014) by The Financial Services and Markets Act 2000 (Appointed Representatives) (Amendment) Regulations 2014 (S.I. 2014/206) , regs. 1 , 2(3)inserted
F58Words in reg. 3(3CA)(a) deleted (17.3.2016 for specified purposes, 6.4.2016 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392) , arts. 1(2) (3)(d) , 5(3)(a) (with Pt. 5 )deleted
F59Reg. 3(3CA)(aa) inserted (17.3.2016 for specified purposes, 6.4.2016 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392) , arts. 1(2) (3)(d) , 5(3)(b) (with Pt. 5 )inserted
F60Words in reg. 3(3CA)(b) substituted (17.3.2016 for specified purposes, 6.4.2016 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392) , arts. 1(2) (3)(d) , 5(3)(c) (with Pt. 5 )substituted
F61Reg. 3(3CA)(c) inserted (17.3.2016 for specified purposes, 6.4.2016 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392) , arts. 1(2) (3)(d) , 5(3)(d) (with Pt. 5 )inserted
F62Reg. 3(3CB) inserted (17.3.2016 for specified purposes, 6.4.2016 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392) , arts. 1(2) (3)(d) , 5(4) (with Pt. 5 )inserted
F63Words in reg. 3(3E) omitted (14.2.2014 for specified purposes, 1.4.2014 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2014 (S.I. 2014/366) , arts. 1(3) (4) , 9(2)(a)omitted
F64Reg. 3(3GA) inserted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14) , ss. 34(6) , 41(3) (with s. 34(7) ); S.I. 2016/627 , reg. 2(1)(y)this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted
F65Reg. 3(3J) inserted (14.2.2014 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2014 (S.I. 2014/366) , arts. 1(3) (4) , 9(2)(b)inserted
F66Reg. 3(4)(5) inserted (31.10.2004 for specified purposes, 14.1.2005 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2003 (S.I. 2003/1476) , arts. 1(3) , 14(4)(b)inserted
F67Word in reg. 3(5) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472) , Sch. 2 para. 39substituted
F68Reg. 3(6) substituted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701) , reg. 1(2) (3) (4) (6) , Sch. 3 para. 3(3)(b) (with reg. 7 )this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary.substituted
F69Words in reg. 3(6) omitted (31.12.2020) by virtue of The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632) , regs. 1(3) , 178(4)(c)(i) (with savings in S.I. 2019/680 , reg. 11 (as amended by S.I. 2019/1212 , regs. 1(3) , 22(3) ); 2020 c. 1 , Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.omitted
F70Words in reg. 3(6)(a) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632) , regs. 1(3) , 178(4)(c)(ii) (with savings in S.I. 2019/680 , reg. 11 (as amended by S.I. 2019/1212 , regs. 1(3) , 22(3) ); 2020 c. 1 , Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F71Words in reg. 3(6)(b) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632) , regs. 1(3) , 178(4)(c)(iii) (with savings in S.I. 2019/680 , reg. 11 (as amended by S.I. 2019/1212 , regs. 1(3) , 22(3) ); 2020 c. 1 , Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F72Reg. 4 inserted (1.11.2007) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) (Amendment) Regulations 2007 (S.I. 2007/763) , regs. 1(2) , 7inserted
I1Reg. 1 in force at 1.12.2001, see reg. 1(1)
I2Reg. 2 in force at 1.12.2001, see reg. 1(1)
I3Reg. 3 in force at 1.12.2001, see reg. 1(1)
Defined TermSection/ArticleIDScope of Application
article 36H agreementreg. 3.legTermh5KFvbeT
borrowerreg. 1.borrower_rtyl2rl
clientsreg. 2.legTermpqgIYiJ8
contract of long-term care insurancereg. 1.contract_o_rtxVwFA
CRR firmreg. 2.legTermoOJzJu0L
financial instrumentsreg. 2.legTermOnRCdKJ6
funeral plan contractreg. 1.funeral_pl_rtR5IqI
home purchaserreg. 1.home_purch_rtyviMV
investment transactionreg. 3.investment_rtYrBrE
lenderreg. 3.legTermOO8dOvAk
operatorreg. 3.legTermq0MYK0W4
other counterpartiesreg. 1.other_coun_rt4EVRR
plan providerreg. 1.plan_provi_rtoXJuK
regulated home purchase planreg. 1.regulated__rtE0X15
regulated home reversion planreg. 1.regulated__rtGd97U
regulated mortgage contractreg. 1.regulated__rtYS4K1
relevant article 36H agreementreg. 3.legTermQI0rowey
relevant investmentreg. 1.relevant_i_rtHZcLG
relevant investment firm or credit institutionreg. 2.legTermKInACap7
reversion sellerreg. 1.reversion__rtOREpe
structured depositreg. 1.structured_rtE0azl
the ActUnknown(“_prnm7ttG
the principalreg. 1.the_princi_rtzcBNp
the Regulated Activities Orderreg. 1.the_Regula_rtnVVsl
the representativereg. 1.the_repres_rt9mx1H
This instrument is derived from the version at www.legislation.gov.uk. To see a list of all amendments (including any to be made) check the resources page for this instrument on their website. Note, the status of this instrument is given above.
This instrument is derived from the version at www.legislation.gov.uk. To see original commencement information, check the resources page associated with this instrument. n.b. commencement information for marked amendments is embedded in the relevant footnote.

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