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Statutory Instruments

2001 No. 544

FINANCIAL SERVICES AND MARKETS

The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001

Approved by both Houses of Parliament

Made

26th February 2001

Laid before Parliament

27th February 2001

Coming into force in accordance with article 2

M1 The Treasury, in exercise of the powers conferred on them by sections 22(1) and (5), 426 and 428(3) of, and paragraph 25 of Schedule 2 to, the Financial Services and Markets Act 2000, hereby make the following Order:

PART I GENERAL

Citation

1. This Order may be cited as the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001.

Commencement

2.—(1) Except as provided by paragraph (2), this Order comes into force on the day on which section 19 of the Act comes into force.

(2) This Order comes into force—

(a)for the purposes of articles 59, 60 and 87 (funeral plan contracts) on 1st January 2002; and

(b)for the purposes of articles 61 to 63, 88, 90 and 91 (regulated mortgage contracts) [F1on such a day as the Treasury may specifyF1] .

[F2(3)Any day specified under paragraph (2)(b) must be caused to be notified in the London, Edinburgh and Belfast Gazettes published not later than one week before that day.F2]

Interpretationcross-notes

3.—(1) In this Order—

[F77(1A)A person falls within this paragraph if—

(a)the person is excluded from the definition of “investment firm” by Schedule 3, read with the Commission Regulation and with Commission Delegated Regulation (EU) 2017/592 of 1 December 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards for the criteria to establish when an activity is considered to be ancillary to the main business, or

(b)the person is one whose home State is not the United Kingdom and who would be excluded from that definition by Schedule 3, read with the Commission Regulation and with Commission Delegated Regulation (EU) 2017/592, if the person had its registered office (or, if it does not have one, its head office) in the United Kingdom.F77]

(2)For the purposes of this Order, a transaction is entered into through a person if he enters into it as agent or arranges, in a manner constituting the carrying on of an activity of the kind specified by article 25(1) [F78, 25A(1), 25B(1) [F79, 25C(1) or 25E(1)F79,F78]], for it to be entered into by another person as agent or principal.

(3)For the purposes of this Order, a contract of insurance is to be treated as falling within Part II of Schedule 1, notwithstanding the fact that it contains related and subsidiary provisions such that it might also be regarded as falling within Part I of that Schedule, if its principal object is that of a contract falling within Part II and it is effected or carried out by an authorised person who has permission to effect or carry out contracts falling within paragraph I of Part II of Schedule 1.

[F80(4)In this Order any reference to a sourcebook is to a sourcebook in the Handbook of Rules and Guidance published by the FCA containing rules made by the FCA under the Act, as the sourcebook has effect on IP completion day.F80,F62]]

PART II SPECIFIED ACTIVITIES

Chapter IGeneral

Specified activities: general

M84.—(1) The following provisions of this Part specify kinds of activity for the purposes of [F81section 22(1)F81] of the Act (and accordingly any activity of one of those kinds, which is carried on by way of business , and relates to an investment of a kind specified by any provision of Part III and applicable to that activity, is a regulated activity for the purposes of the Act).

(2) The kinds of activity specified by articles [[F82,F8351ZA, 51ZB, 51ZC, 51ZD, 51ZEF83], 52 and 63NF82] are also specified for the purposes of section 22(1)(b) of the Act (and accordingly any activity of one of those kinds, when carried on by way of business, is a regulated activity when carried on in relation to property of any kind).

[F84(2A)The kinds of activity specified by Part 3A are specified for the purposes of section 22(1A)(a) of the Act (and accordingly any activity of one of those kinds, when carried on by way of business, is a regulated activity).F84]

[F85(2B)The kinds of activity specified in Part 3B are specified for the purposes of section 22(1B) of the Act (and accordingly any activity of one of those kinds, when carried on by way of business in Great Britain, is a regulated activity).F85]

(3) Subject to paragraph (4), each provision specifying a kind of activity is subject to the exclusions applicable to that provision (and accordingly any reference in this Order to an activity of the kind specified by a particular provision is to be read subject to any such exclusions).

[F86(4)Where an investment firm or [F87qualifying credit institutionF87]—

(a)provides or performs investment services and activities on a professional basis, and

(b)in doing so would be treated as carrying on an activity of a kind specified by a provision of this Part but for an exclusion in any of articles 15, 16, [F8818,F88] 19, 22, 23, 29, [F8934,F89] 38, 67, 68, 69, 70 and 72E,

that exclusion is to be disregarded and, accordingly, the investment firm or [F87qualifying credit institutionF87] is to be treated as carrying on an activity of the kind specified by the provision in question.F86]

[F90(4A)Where a person F91...—

(a)for remuneration, takes up or pursues insurance distribution, or reinsurance distribution, in relation to a risk or commitment located in [F92the United KingdomF92], and

(b)in doing so would be treated as carrying on an activity of a specified kind by a provision of this Part but for an exclusion in any of articles 30, 66, 67 and 72AA,

that exclusion is to be disregarded (and accordingly that person is to be treated as carrying on an activity of the kind specified by the provision in question).F90]

[F93(4AA)In its application to any activity relating to a contract of insurance entered into before IP completion day, paragraph (4A)(a) has effect as if “or an EEA State” were inserted after “the United Kingdom.F93]

[F94(4B)Where—

(a)a person is a mortgage creditor or a mortgage intermediary; and

(b)in acting as a mortgage creditor or a mortgage intermediary[F95in respect of an agreement entered into, or to be entered into, on or after 21st March 2016F95], that person would be treated as carrying on an activity of a kind specified by article 25A (arranging regulated mortgage contracts), 36A (credit broking), 53A (advising on regulated mortgage contracts), 53DA (advising on regulated credit agreements for the acquisition of land), 60B (regulated credit agreements) or 61 (entering into and administering regulated mortgage contracts), but for an exclusion or exemption provided for by this Order,

that exclusion or exemption is to be disregarded (and accordingly that person is to be treated as carrying on an activity of the kind specified by the provision in question) to the extent that such exclusion or exemption [F96neither relates to an agreement to which section 423A(3) of the Act applies nor falls within the scope of any of the derogations set out in Article 3(3) of the mortgages directive (as it had effect immediately before IP completion day)F96].F94]

[F97(5)In this article—

F98...

[F99“insurance distribution” means any regulated activity of the kind specified by article 21, 25(1) or (2), 39A, 53, or, so far as relevant to any of those articles, article 64, which is carried on in relation to a contract of insurance;F99]

[F100“reinsurance distribution” means any regulated activity of the kind specified by article 21, 25(1) or (2), 39A, 53, or, so far as relevant to any of those articles, article 64, which is carried on in relation to a reinsurance contract.F100,F97]]

Chapter IIAccepting Deposits

The activity

Accepting deposits

5.—(1) Accepting deposits is a specified kind of activity if—

(a)money received by way of deposit is lent to others; or

(b)any other activity of the person accepting the deposit is financed wholly, or to a material extent, out of the capital of or interest on money received by way of deposit.

(2) In paragraph (1), “deposit" means a sum of money, other than one excluded by any of [F101articles 6 to 9AF101] , paid on terms—

(a)under which it will be repaid, with or without interest or premium, and either on demand or at a time or in circumstances agreed by or on behalf of the person making the payment and the person receiving it; and

(b)which are not referable to the provision of property (other than currency) or services or the giving of security.

(3) For the purposes of paragraph (2), money is paid on terms which are referable to the provision of property or services or the giving of security if, and only if—

(a)it is paid by way of advance or part payment under a contract for the sale, hire or other provision of property or services, and is repayable only in the event that the property or services is or are not in fact sold, hired or otherwise provided;

(b)it is paid by way of security for the performance of a contract or by way of security in respect of loss which may result from the non-performance of a contract; or

(c)without prejudice to sub-paragraph (b), it is paid by way of security for the delivery up or return of any property, whether in a particular state of repair or otherwise.

Exclusions

Sums paid by certain persons

6.—(1) A sum is not a deposit for the purposes of article 5 if it is—

(a)paid by any of the following persons—

(i)F102the Bank of England...;

(ii)an authorised person who has permission to accept deposits, or to effect or carry out contracts of insurance;

F103(iii). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F104(iv)National Savings and Investments;F104]

(v)M9a municipal bank, that is to say a company which was, immediately before the coming into force of this article, exempt from the prohibition in section 3 of the Banking Act 1987 by virtue of section 4(1) of, and paragraph 4 of Schedule 2 to, that Act;

(vi)Keesler Federal Credit Union;

(vii)a body of persons certified as a school bank by the National Savings Bank or by an authorised person who has permission to accept deposits;

(viii)a local authority;

(xi)any body which by virtue of any enactment has power to issue a precept to a local authority in England and Wales or a requisition to a local authority in Scotland, or to the expenses of which, by virtue of any enactment, a local authority in the United Kingdom is or can be required to contribute (and in this paragraph, “enactment" includes an enactment comprised in, or in an instrument made under, an Act of the Scottish Parliament);

F105(x). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(xi)the European Investment Bank;

(xii)the International Bank for Reconstruction and Development;

(xiii)the International Finance Corporation;

(xiv)the International Monetary Fund;

(xv)the African Development Bank;

(xvi)the Asian Development Bank;

(xvii)the Caribbean Development Bank;

(xviii)the Inter-American Development Bank;

(xix)the European Bank for Reconstruction and Development;

[F106(xx)the Council of Europe Development Bank;F106]

(b)paid by a person other than one mentioned in sub-paragraph (a) in the course of carrying on a business consisting wholly or to a significant extent of lending money;

(c)paid by one company to another at a time when both are members of the same group or when the same individual is a majority shareholder controller of both of them; or

(d)paid by a person who, at the time when it is paid, is a close relative of the person receiving it or who is, or is a close relative of, a director or manager of that person or who is, or is a close relative of, a controller of that person.

(2) For the purposes of paragraph (1)(c), an individual is a majority shareholder controller of a company if he is a controller of the company by virtue of paragraph (a), (c), (e) or (g) of section 422(2) of the Act, and if in his case the greatest percentage of those referred to in those paragraphs is 50 or more.

(3) In the application of sub-paragraph (d) of paragraph (1) to a sum paid by a partnership, that sub-paragraph is to have effect as if, for the reference to the person paying the sum, there were substituted a reference to each of the partners.

Sums received by solicitors etc.cross-notes

7.—(1) A sum is not a deposit for the purposes of article 5 if it is received by a practising solicitor acting in the course of his profession.

(2) In paragraph (1), “practising solicitor" means—

(a)M10,M11,M12a solicitor who is qualified to act as such under section 1 of the Solicitors Act 1974, article 4 of the Solicitors (Northern Ireland) Order 1976 or section 4 of the Solicitors (Scotland) Act 1980 ;

(b)a recognised body;

(c)a registered foreign lawyer in the course of providing professional services as a member of a multi-national partnership; [F107orF107]

(d)F109[F108a Swiss lawyer who is a registered European lawyerF108] ; ...

F109(e). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) In this article—

(a)“a recognised body" means a body corporate recognised by—

(i)M13the Council of the Law Society under section 9 of the Administration of Justice Act 1985 ;

(ii)M14the Incorporated Law Society of Northern Ireland under article 26A of the Solicitors (Northern Ireland) Order 1976 ; or

(iii)the Council of the Law Society of Scotland under section 34 of the Solicitors (Scotland) Act 1980;

(b)M15,M16“registered foreign lawyer" has the meaning given by section 89 of the Courts and Legal Services Act 1990 or, in Scotland, section 65 of the Solicitors (Scotland) Act 1980 ;

(c)M17,M18,M19,F110“multi-national partnership" has the meaning given by section 89 of the Courts and Legal Services Act 1990 but, in Scotland, is a reference to a “multi-national practice" within the meaning of section 60A of the Solicitors (Scotland) Act 1980 “registered European lawyer" has the meaning given by regulation 2(1) of the European Communities (Lawyer’s Practice) Regulations 2000 or regulation 2(1) of the European Communities (Lawyer’s Practice) (Scotland) Regulation 2000 ;...

(d)F111,F112“registered European lawyer” has the meaning given by regulation 2(1) of the European Communities (Lawyer’s Practice) Regulations 2000 or regulation 2(1) of the European Communities (Lawyer’s Practice) (Scotland) Regulation 2000; [F113andF113]

[F114(e)“Swiss lawyer” means a national of the United Kingdom or a Swiss national who—

(i)immediately before IP completion day was authorised in Switzerland to pursue professional activities under the professional title of Avocat, Advokat, Rechtsanwalt, Anwalt, Fürsprecher, Fürsprech or Avvocato, or

(ii)had started training towards but not yet obtained their professional qualifications before IP completion day in order to be authorised in Switzerland to pursue professional activities under one of the professional titles referred to in paragraph (i) but who completed their qualifications and were so authorised before the end of the period of four years beginning with IP completion day.F114]

Sums received by persons authorised to deal etc.

8. A sum is not a deposit for the purposes of article 5 if it is received by a person who is—

(a)an authorised person with permission to carry on an activity of the kind specified by any of articles 14, 21, 25, 37, [F11551ZA, 51ZB, 51ZC, 51ZD, 51ZEF115] and 52, or

(b)an exempt person in relation to any such activity,

in the course of, or for the purpose of, [F116carrying on any such activity (or any activity which would be such an activity but for any exclusion made by this Part)F116] with or on behalf of the person by or on behalf of whom the sum is paid.

Sums received in consideration for the issue of debt securities

9.—(1) Subject to paragraph (2), a sum is not a deposit for the purposes of article 5 if it is received by a person as consideration for the issue by him of any investment of the kind specified by article 77 or 78.

(2) The exclusion in paragraph (1) does not apply to the receipt by a person of a sum as consideration for the issue by him of commercial paper unless—

(a)the commercial paper is issued to persons—

(i)whose ordinary activities involve them in acquiring, holding, managing or disposing of investments (as principal or agent) for the purposes of their businesses; or

(ii)who it is reasonable to expect will acquire, hold, manage or dispose of investments (as principal or agent) for the purposes of their businesses; and

(b)the redemption value of the commercial paper is not less than £100,000 (or an amount of equivalent value denominated wholly or partly in a currency other than sterling), and no part of the commercial paper may be transferred unless the redemption value of that part is not less than £100,000 (or such an equivalent amount).

[F117(3)In paragraph (2), “commercial paper” means an investment of the kind specified by article 77 or 78 having a maturity of less than one year from the date of issue.F117]

[F118Sums received in exchange for electronic money

9A.A sum is not a deposit for the purposes of article 5 if it is immediately exchanged for electronic money.F118]

F120[F119...[F121Managers of UCITS and AIFsF121]

9AA.Article 5 is subject to the [F122exclusionF122] in F123... [F124 article 72AA (managers of [F125UK UCITSF125] and AIFs).F124,F119]]

[F126Funds received for payment services

9AB.—(1)A sum is not a deposit for the purposes of article 5 if it is received by an authorised payment institution, an EEAauthorised payment institution[F127, a small payment institution, an electronic money institution or an EEA authorised electronic money institutionF127] from a payment service user with a view to the provision of payment services.

(2)For the purposes of paragraph (1), “authorised payment institution”, “EEAauthorised payment institution”, “small payment institution”, “payment services” and “payment service user” have the meanings given in the Payment Services Regulations [F1282017F128][F129and “electronic money institution” and “EEA authorised electronic money institution” have the meanings given in the Electronic Money Regulations 2011.F129,F126]]

[F130Local authorities

9AC.Article 5 is subject to the exclusion in article 72G (local authorities).F130]

[F131CHAPTER IIA ELECTRONIC MONEY

The activity

Issuing electronic money

9B.Issuing electronic money[F132by—

(a)a [F133qualifying credit institutionF133], a credit union or a municipal bank; or

(b)a person who is deemed to have been granted authorisation under regulation 74 of the Electronic Money Regulations 2011 or who falls within regulation 76(1) of those Regulations,F132]

is a specified kind of activity.

[F1349BA.Articles 9C to 9I and 9K apply only in the case of a person falling within regulation 76(1) of the Electronic Money Regulations 2011.F134]

Exclusions

Persons certified as small issuers etc.

9C.—(1)There is excluded from article 9B the issuing of electronic money by a person to whom [F135the FCAF135] has given a certificate under this article (provided the certificate has not been revoked).

(2)An application for a certificate may be made by—

(a)a body corporate, or

(b)a partnership,

other than a credit institutionF136... which has its head office in the United Kingdom.

(3)[F137The FCAF137] must, on the application of such a person (“A”), give A a certificate if it appears to [F138the FCAF138] that paragraph (4), (5) or (6) applies.

(4)This paragraph applies if—

(a)A does not issue electronic money except on terms that the electronic device on which the monetary value is stored is subject to a maximum storage amount of not more than 150 euro; and

(b)A’s total liabilities with respect to the issuing of electronic money do not (or will not) usually exceed 5 million euro and do not (or will not) ever exceed 6 million euro.

(5)This paragraph applies if—

(a)the condition in paragraph (4)(a) is met;

(b)A’s total liabilities with respect to the issuing of electronic money do not (or will not) exceed 10 million euro; and

(c)electronic money issued by A is accepted as a means of payment only by—

(i)subsidiaries of A which perform operational or other ancillary functions related to electronic money issued or distributed by A; or

(ii)other members of the same group as A (other than subsidiaries of A).

(6)This paragraph applies if—

(a)the conditions in paragraphs (4)(a) and (5)(b) are met; and

(b)electronic money issued by A is accepted as a means of payment, in the course of business, by not more than one hundred persons where—

(i)those persons accept such electronic money only at locations within the same premises or limited local area; or

(ii)those persons have a close financial or business relationship with A, such as a common marketing or distribution scheme.

(7)For the purposes of paragraph (6)(b)(i), locations are to be treated as situated within the same premises or limited local area if they are situated within—

(a)a shopping centre, airport, railway station, bus station, or campus of a university, polytechnic, college, school or similar educational establishment; or

(b)an area which does not exceed four square kilometres;

but sub-paragraphs (a) and (b) are illustrative only and are not to be treated as limiting the scope of paragraph (6)(b)(i).

(8)For the purposes of paragraph (6)(b)(ii), persons are not to be treated as having a close financial or business relationship with A merely because they participate in arrangements for the acceptance of electronic money issued by A.

(9)In this article, references to amounts in euro include references to equivalent amounts in sterling.

(10)A person to whom a certificate has been given under this article (and whose certificate has not been revoked) is referred to in this Chapter as a “certified person”.

Applications for certificates

9D.The following provisions of the Act apply to applications to [F139the FCAF139] for certificates under 9C (and the determination of such applications) as they apply to applications for Part IV permissions (and the determination of such applications)—

[F140(a)section 55U(1)(b) and (4) to (8);

(b)section 55V;

(c)section 55X(2) and (4)(f); and

(d)section 55Z3(1).F140]

Revocation of certificate on [F141FCA’sF141] own initiative

9E.—(1)[F142The FCAF142] may revoke a certificate given to a person (“A”) under article 9C if—

(a)it appears to it that A does not meet the relevant conditions, or has failed to meet the relevant conditions at any time since the certificate was given; or

(b)the person to whom the certificate was given has contravened any rule or requirement to which he is subject as a result of article 9G.

(2)For the purposes of paragraph (1), A meets the relevant conditions at any time if, at that time, paragraph (4), (5) or (6) of article 9C applies.

(3)Sections [F14355Z and 55Z3(2)F143] of the Act apply to the revocation of a certificate under paragraph (1) as they apply to the cancellation of a Part IV permission on [F144the FCA’sF144] own initiative, as if references in those sections to an authorised person were references to a certified person.

Revocation of certificate on request

9F.—(1)A certified person (“B”) may apply to [F145the FCAF145] for his certificate to be revoked, and [F145the FCAF145] must then revoke the certificate and give B written notice that it has done so.

(2)An application under paragraph (1) must be made in such manner as [F145the FCAF145] may direct.

(3)If—

(a)B has made an application under Part IV of the Act for permission to carry on a regulated activity of the kind specified by article 9B (or for variation of an existing permission so as to add a regulated activity of that kind), and

(b)on making an application for revocation of his certificate under paragraph (1), he requests that the revocation be conditional on the granting of his application under Part IV of the Act,

the revocation of B’s certificate is to be conditional on the granting of his application under Part IV of the Act.

Obtaining information from certified persons etc.

9G.—(1)[F146The FCAF146] may make rules requiring certified persons to provide information to [F146the FCAF146] about their activities so far as relating to the issuing of electronic money, including the amount of their liabilities with respect to the issuing of electronic money.

(2)[F147Section 138AF147] of the Act (modification or waiver of rules) applies in relation to rules made under paragraph (1) as if references in that section to an authorised person were references to a certified person.

(3)[F148Section 138DF148] of the Act (actions for damages) applies in relation to a rule made under paragraph (1) as if the reference in subsection (1) of that section to an authorised person were a reference to a certified person.

(4)[F149The FCAF149] may, by notice in writing given to a certified person, require him—

(a)to provide specified information or information of a specified description; or

(b)to produce specifieddocuments or documents of a specified description.

(5)Paragraph (4) applies only to information or documents reasonably required for the purposes of determining whether the certified person meets, or has met, the relevant conditions.

(6)Subsections (2), (5) and (6) of section 165 of the Act ([F150Regulator’sF150] power to require information) apply to a requirement imposed under paragraph (4) as they apply to a requirement imposed under that section.

(7)Section 166 of the Act (reports by skilled persons) has effect as if—

F151(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b)the reference in section 166(2)(a) of the Act to an authorised person included a reference to a certified person.

(8)Subsection (4) of section 168 of the Act (appointment of persons to carry out investigations in particular cases) has effect as if it provided for subsection (5) of that section to apply if it appears to [F152the FCAF152] that there are circumstances suggesting that a certified person may not meet, or may not have met, the relevant conditions.

(9)Sections 175 (information and documents: supplemental provisions), 176 (entry of premises under warrant) and 177 (offences) of the Act apply to a requirement imposed under paragraph (4) as they apply to a requirement imposed under section 165 of the Act (the reference in section 176(3)(a) to an authorised person being read as a reference to a certified person).

(10)In this article—

(a)“specified”, in paragraph (4), means specified in the notice mentioned in that paragraph;

(b)a certified person (“A”) meets the relevant conditions at any time if, at that time, paragraph (4), (5) or (6) of article 9C applies.

Supplemental

Rules prohibiting the issue of electronic money at a discount

9H.—(1)[F153The FCAF153] may make rules applying to authorised persons with permission to carry on an activity of the kind specified by article 9B, prohibiting the issue of electronic money having a monetary value greater than the funds received.

(2)[F154Section 138AF154] of the Act (modification or waiver of rules) applies in relation to rules made under paragraph (1).

False claims to be a certified person

9I.A person who is not a certified person is to be treated as guilty of an offence under section 24 of the Act (false claims to be authorised or exempt) if he—

(a)describes himself (in whatever terms) as a certified person;

(b)behaves, or otherwise holds himself out, in a manner which indicates (or which is reasonably likely to be understood as indicating) that he is a certified person.

Exclusion of electronic money from the compensation scheme

9J.The compensation scheme established under Part XV of the Act is not to provide for the compensation of persons in respect of claims made in connection with any activity of the kind specified by article 9B.

Record of certified persons

9K.The record maintained by [F155the FCAF155] under section 347 of the Act (public record of authorised persons etc.) must include every certified person.F131]

Funds received for payment services

F1569L. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Chapter IIIInsurance

The activities

Effecting and carrying out contracts of insurance

10.—(1) Effecting a contract of insurance as principal is a specified kind of activity.

(2) Carrying out a contract of insurance as principal is a specified kind of activity.

Exclusions

Community co-insurers

F15711. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Breakdown insurance

12.—(1) There is excluded from article 10(1) or (2) the effecting or carrying out, by a person who does not otherwise carry on an activity of the kind specified by that article, of a contract of insurance which—

(a)is a contract under which the benefits provided by that person (“the provider") are exclusively or primarily benefits in kind in the event of accident to or breakdown of a vehicle; and

(b)contains the terms mentioned in paragraph (2).

(2) Those terms are that—

(a)the assistance takes either or both of the forms mentioned in paragraph (3)(a) and (b);

(b)the assistance is not available outside the United Kingdom and the Republic of Ireland except where it is provided without the payment of additional premium by a person in the country concerned with whom the provider has entered into a reciprocal agreement; and

(c)assistance provided in the case of an accident or breakdown occurring in the United Kingdom or the Republic of Ireland is, in most circumstances, provided by the provider’s servants.

(3) The forms of assistance are—

(a)repairs to the relevant vehicle at the place where the accident or breakdown has occurred; this assistance may also include the delivery of parts, fuel, oil, water or keys to the relevant vehicle;

(b)removal of the relevant vehicle to the nearest or most appropriate place at which repairs may be carried out, or to—

(i)the home, point of departure or original destination within the United Kingdom of the driver and passengers, provided the accident or breakdown occurred within the United Kingdom;

(ii)the home, point of departure or original destination within the Republic of Ireland of the driver and passengers, provided the accident or breakdown occurred within the Republic of Ireland or within Northern Ireland;

(iii)the home, point of departure or original destination within Northern Ireland of the driver and passengers, provided the accident or breakdown occurred within the Republic of Ireland;

and this form of assistance may include the conveyance of the driver or passengers of the relevant vehicle, with the vehicle, or (where the vehicle is to be conveyed only to the nearest or most appropriate place at which repairs may be carried out) separately, to the nearest location from which they may continue their journey by other means.

(4) A contract does not fail to meet the condition in paragraph (1)(a) solely because the provider may reimburse the person entitled to the assistance for all or part of any sums paid by him in respect of assistance either because he failed to identify himself as a person entitled to the assistance or because he was unable to get in touch with the provider in order to claim the assistance.

(5) In this article—

F159[F158...[F160Managers of UCITS and AIFsF160]

12A.Article 10 is subject to the [F161exclusionF161] in F162... [F163 article 72AA (managers of [F164UK UCITSF164] and AIFs).F163,F158]]

[F165Transformer vehicles: insurance risk transformation

12B.A transformer vehicle does not carry on an activity of a kind specified by article 10 by assuming a risk from an undertaking, provided the assumption of the risk is a specified kind of activity falling within article 13A (transformer vehicles: insurance risk transformation).F165]

Supplemental

Application of sections 327 and 332 of the Act to insurance market activities

13.—(1) In sections 327(5) and (7) and 332(3)(b) of the Act (exemption from the general prohibition for members of the professions, and rules in relation to such persons), the references to “a regulated activity" and “regulated activities" do not include—

(a)any activity of the kind specified by article 10(1) or (2), where—

(i)P is a member of the Society; and

(ii)by virtue of section 316 of the Act (application of the Act to Lloyd’s underwriting), the general prohibition does not apply to the carrying on by P of that activity; or

(b)any activity of the kind specified by article 10(2), where—

(i)P is a former underwriting member; and

(ii)the contract of insurance in question is one underwritten by P at Lloyd’s.

(2) In paragraph (1)—

[F166CHAPTER 3AInsurance risk transformation

Transformer vehicles: insurance risk transformation

13A.It is a specified kind of activity for a transformer vehicle to assume a risk from an undertaking where—

(a)the undertaking assumes a risk under a contract of insurance (“the underlying risk”); and

(b)the assumption of risk by the transformer vehicle has the legal or economic effect of transferring some or all of the underlying risk to the transformer vehicle.F166]

Chapter IVDealing in Investments as Principal

The activity

Dealing in investments as principal

14.[F167—(1)F167]Buying, selling, subscribing for or underwriting securities or contractually based investments (other than investments of the kind specified by article 87, or article 89 so far as relevant to that article) as principal is a specified kind of activity.

[F168(2)Paragraph (1) does not apply to a kind of activity to which article 25D [F169or 25DAF169] applies.F168]

Exclusions

Absence of holding out etc.

15.—(1) Subject to paragraph (3), a person (“A") does not carry on an activity of the kind specified by article 14 by entering into a transaction which relates to a security or is the assignment (or, in Scotland, the assignation) of a qualifying contract of insurance (or an investment of the kind specified by article 89, so far as relevant to such a contract), unless—

(a)A holds himself out as willing, as principal, to buy, sell or subscribe for investments of the kind to which the transaction relates at prices determined by him generally and continuously rather than in respect of each particular transaction;

(b)A holds himself out as engaging in the business of buying investments of the kind to which the transaction relates, with a view to selling them;

(c)A holds himself out as engaging in the business of underwriting investments of the kind to which the transaction relates; or

(d)A regularly solicits members of the public with the purpose of inducing them, as principals or agents, to enter into transactions constituting activities of the kind specified by article 14, and the transaction is entered into as a result of his having solicited members of the public in that manner.

(2) In paragraph (1)(d), “members of the public" means any persons other than—

(a)authorised persons or persons who are exempt persons in relation to activities of the kind specified by article 14;

(b)members of the same group as A;

(c)persons who are or who propose to become participators with A in a joint enterprise;

(d)any person who is solicited by A with a view to the acquisition by A of 20 per cent or more of the voting shares in a body corporate;

(e)if A (either alone or with members of the same group as himself) holds more than 20 per cent of the voting shares in a body corporate, any person who is solicited by A with a view to—

(i)the acquisition by A of further shares in the body corporate; or

(ii)the disposal by A of shares in the body corporate to the person solicited or to a member of the same group as the person solicited;

(f)any person who—

(i)is solicited by A with a view to the disposal by A of shares in a body corporate to the person solicited or to a member of the same group as that person; and

(ii)either alone or with members of the same group holds 20 per cent or more of the voting shares in the body corporate;

(g)any person whose head office is outside the United Kingdom, who is solicited by an approach made or directed to him at a place outside the United Kingdom and whose ordinary business involves him in carrying on activities of the kind specified by any of articles 14, 21, 25, 37, 40, 45, [F17051ZA, 51ZB, 51ZC, 51ZD, 51ZEF170] , 52 and 53 or (so far as relevant to any of those articles) article 64, or would do so apart from any exclusion from any of those articles made by this Order.

(3) This article does not apply where A enters into the transaction as bare trustee or, in Scotland, as nominee for another person and is acting on that other person’s instructions (but the exclusion in article 66(1) applies if the conditions set out there are met).

[F171(4)This article is subject to article 4(4).F171]

Dealing in contractually based investments

16.[F172—(1)F172] A person who is not an authorised person does not carry on an activity of the kind specified by article 14 by entering into a transaction relating to a contractually based investment—

(a)with or through an authorised person, or an exempt person acting in the course of a business comprising a regulated activity in relation to which he is exempt; or

(b)through an office outside the United Kingdom maintained by a party to the transaction, and with or through a person whose head office is situated outside the United Kingdom and whose ordinary business involves him in carrying on activities of the kind specified by any of articles 14, 21, 25, 37, 40, 45, [F17351ZA, 51ZB, 51ZC, 51ZD, 51ZEF173] , 52 and 53 or, so far as relevant to any of those articles, article 64 (or would do so apart from any exclusion from any of those articles made by this Order).

[F174(2)This article is subject to article 4(4).F174]

Acceptance of instruments creating or acknowledging indebtedness

17.—(1) A person does not carry on an activity of the kind specified by article 14 by accepting an instrument creating or acknowledging indebtedness in respect of any loan, credit, guarantee or other similar financial accommodation or assurance which he has made, granted or provided.

(2) The reference in paragraph (1) to a person accepting an instrument includes a reference to a person becoming a party to an instrument otherwise than as a debtor or a surety.

Issue by a company of its own shares etc.

18.—(1) There is excluded from article 14 the issue by a company of its own shares or share warrants, and the issue by any person of his own debentures or debenture warrants.

(2) In this article—

(a)“company" means any body corporate other than an open-ended investment company;

(b)“shares" and “debentures" include any investment of the kind specified by article 76 [F175, 77 or 77AF175] ;

(c)“share warrants" and “debenture warrants" mean any investment of the kind specified by article 79 which relates to shares in the company concerned or, as the case may be, debentures issued by [F176the person concernedF176] .

[F177(3)This article is subject to article 4(4).F177]

[F178Dealing by a company in its own shares

18A.—(1)A company does not carry on an activity of the kind specified by article 14 by purchasing its own shares where [F179section 724 of the Companies Act 2006F179] (Treasury shares) applies to the shares purchased.

(2)A company does not carry on an activity of the kind specified by article 14 by dealing in its own shares held as treasury shares, in accordance with [F180section 727 (Treasury shares: disposal) or 729 (Treasury shares: cancellation) of that ActF180].

(3)In this article “shares held as treasury shares” has the same meaning as in that Act.F178]

Risk management

19.—(1) A person (“B") does not carry on an activity of the kind specified by article 14 by entering as principal into a transaction with another person (“C") if—

(a)the transaction relates to investments of the kind specified by any of articles 83 to 85 (or article 89 so far as relevant to any of those articles);

(b)neither B nor C is an individual;

(c)the sole or main purpose for which B enters into the transaction (either by itself or in combination with other such transactions) is that of limiting the extent to which a relevant business will be affected by any identifiable risk arising otherwise than as a result of the carrying on of a regulated activity; and

(d)the relevant business consists mainly of activities other than—

(i)regulated activities; or

(ii)activities which would be regulated activities but for any exclusion made by this Part.

(2) In paragraph (1), “relevant business" means a business carried on by—

(a)B;

(b)a member of the same group as B; or

(c)where B and another person are, or propose to become, participators in a joint enterprise, that other person.

[F181(3)This article is subject to article 4(4).F181]

[F182Transformer vehicles: insurance risk transformation

19A.A transformer vehicle does not carry on an activity of a kind specified by article 14 by assuming a risk from an undertaking, provided the assumption of the risk is a specified kind of activity falling within article 13A (transformer vehicles: insurance risk transformation).F182]

Other exclusions

20. Article 14 is also subject to the exclusions in articles 66 (trustees etc.), 68 (sale of goods and supply of services), 69 (groups and joint enterprises), 70 (sale of body corporate), 71 (employee share schemes) [F183, 72 (overseas persons) F185[F184...[F18672AA (managers of [F187UK UCITSF187] and AIFs) and 72H (insolvency practitioners)F186,F184,F183]]] .

Chapter VDealing in Investments as Agent

The activity

Dealing in investments as agent

F19121.[F188—(1)F188]Buying, selling, subscribing for or underwriting securities[F189, structured depositsF189] or [F190relevant investmentsF190] ... as agent is a specified kind of activity.

[F192(2)Paragraph (1) does not apply to a kind of activity to which article 25D [F193or 25DAF193] applies.F192]

Exclusions

Deals with or through authorised personscross-notes

22.—(1) A person who is not an authorised person does not carry on an activity of the kind specified by article 21 by entering into a transaction as agent for another person (“the client") with or through an authorised person if—

(a)the transaction is entered into on advice given to the client by an authorised person; or

(b)it is clear, in all the circumstances, that the client, in his capacity as an investor, is not seeking and has not sought advice from the agent as to the merits of the client’s entering into the transaction (or, if the client has sought such advice, the agent has declined to give it but has recommended that the client seek such advice from an authorised person).

[F194(2)But the exclusion in paragraph (1) does not apply if—

(a)the transaction relates to a contract of insurance; or

(b)the agent receives from any person other than the client any pecuniary reward or other advantage, for which he does not account to the client, arising out of his entering into the transaction.F194]

[F195(3)This article is subject to article 4(4).F195]

Risk management

23.—(1) A person (“B") does not carry on an activity of the kind specified by article 21 by entering as agent for a relevant person into a transaction with another person (“C") if—

(a)the transaction relates to investments of the kind specified by any of articles 83 to 85 (or article 89 so far as relevant to any of those articles);

(b)neither B nor C is an individual;

(c)the sole or main purpose for which B enters into the transaction (either by itself or in combination with other such transactions) is that of limiting the extent to which a relevant business will be affected by any identifiable risk arising otherwise than as a result of the carrying on of a regulated activity; and

(d)the relevant business consists mainly of activities other than—

(i)regulated activities; or

(ii)activities which would be regulated activities but for any exclusion made by this Part.

(2) In paragraph (1), “relevant person" means—

(a)a member of the same group as B; or

(b)where B and another person are, or propose to become, participators in a joint enterprise, that other person;

and “relevant business" means a business carried on by a relevant person.

[F196(3)This article is subject to article 4(4).F196]

Other exclusions

24. Article 21 is also subject to the exclusions in articles 67 (profession or non-investment business), 68 (sale of goods and supply of services), 69 (groups and joint enterprises), 70 (sale of body corporate), 71 (employee share schemes) [F197, 72 (overseas persons)F197][F198, F199... 72B (activities carried on by a provider of relevant goods or services) [F200, 72AA (managers of [F201UK UCITSF201] and AIFs)[F202, 72D (large risks contracts where risk situated [F203outside the United KingdomF203]), 72G (local authorities) and 72H (insolvency practitioners)F202,F200,F198]]] .

[F204Chapter 5ABidding in Emissions Auctions

The activity

Bidding in emissions auctions

24A.—(1)The reception, transmission or submission of a bid at an auction of an investment of the kind specified by article 82A conducted—

(a)on a recognised auction platform[F205in accordance with the UK auctioning regulationsF205], or

(b)on [F206anF206]auction platform which has been appointed under the emission allowance auctioning regulation[F207in accordance with that regulationF207],

is a specified kind of activity.

(2)An activity which falls within paragraph (1) (or would do so but for the exclusions in article 24B) does not form part of any other activity specified under any other article of this Order.

(3)In this article, “recognised auction platform” has the meaning given in regulation 1(3) of the Recognised Auction Platform Regulations 2011.

Exclusions

Miscellaneous exclusions

24B.—(1)There is excluded from article 24A any activity carried on by—

(a)an operator or an aircraft operator having an operator holding account, in either case bidding on its own account, including any parent undertaking, subsidiary undertaking or [F208affiliated undertakingF208] forming part of the same group of undertakings as the operator or the aircraft operator;

(b)business groupings of persons listed in sub-paragraph (a) bidding on their own account or acting as an agent on behalf of their members; or

(c)public bodies or state-owned entities of the Member States [F209or of the United KingdomF209] that control any of the persons listed in sub-paragraph (a).

F210(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)In this article, the expressions “parent undertaking”, “subsidiary undertaking”, [F211"affiliated undertaking"F211], “business grouping”, “public bodies” and “state-owned entities” have the same meaning as in the [F212UK auctioning regulationsF212].F204]

Chapter VIArranging Deals in Investments

The activities

Arranging deals in investments

25.—(1) Making arrangements for another person (whether as principal or agent) to buy, sell, subscribe for or underwrite a particular investment which is—

(a)a security,

(b)F214a [F213relevant investmentF213] , ...

(c)an investment of the kind specified by article 86, or article 89 so far as relevant to that article [F215, or

(d)a structured deposit,F215]

is a specified kind of activity.

(2) Making arrangements with a view to a person who participates in the arrangements buying, selling, subscribing for or underwriting investments falling within paragraph (1)(a), (b) [F216, (c) or (d)F216] (whether as principal or agent) is also a specified kind of activity.

[F217(3)Paragraphs (1) and (2) do not apply to a kind of activity to which article 25D [F218, 25DA or 25DB,F218] applies.F217]

[F219Arranging regulated mortgage contracts

25A.—(1)Making arrangements—

(a)for another person to enter into a regulated mortgage contract as borrower; or

(b)for another person to vary the terms of a regulated mortgage contract[F220falling within paragraph (1A)F220] entered into by him as borrowerF221..., in such a way as to vary his obligations under that contract,

is a specified kind of activity.

[F222(1A)A regulated mortgage contract falls within this paragraph if—

(a)the contract was entered into on or after 31st October 2004; or

(b)the contract—

(i)was entered into before 31st October 2004; and

(ii)was a regulated credit agreement immediately before 21st March 2016.F222]

(2)Making arrangements with a view to a person who participates in the arrangements entering into a regulated mortgage contract as borrower is also a specified kind of activity.

[F223(2A)Making arrangements to enter into a regulated mortgage contract with a borrower on behalf of a lender is also a specified kind of activity.F223]

(3)In this article [F224“borrower” and “lender” have the meaningsF224] given by article 61(3)(a)(i).F219]

[F225Arranging regulated home reversion plans

25B.—(1)Making arrangements—

(a)for another person to enter into a regulated home reversion plan as reversion seller or as plan provider; or

(b)for another person to vary the terms of a regulated home reversion plan, entered into on or after 6th April 2007 by him as reversion seller or as plan provider, in such a way as to vary his obligations under that plan,

is a specified kind of activity.

(2)Making arrangements with a view to a person who participates in the arrangements entering into a regulated home reversion plan as reversion seller or as plan provider is also a specified kind of activity.F225]

[F225Arranging regulated home purchase plans

25C.—(1)Making arrangements—

(a)for another person to enter into a regulated home purchase plan as home purchaser; or

(b)for another person to vary the terms of a regulated home purchase plan, entered into on or after 6th April 2007 by him as home purchaser, in such a way as to vary his obligations under that plan,

is a specified kind of activity.

(2)Making arrangements with a view to a person who participates in the arrangements entering into a regulated home purchase plan as home purchaser is also a specified kind of activity.F225]

[F226Operating a multilateral trading facility

25D.—(1)The operation of a multilateral trading facility on which MiFIDinstruments are traded is a specified kind of activity.

[F227(1A)Paragraph (1) does not apply to a kind of activity to which article 25DB applies.F227]

(2)In paragraph (1), “MiFIDinstrument” means any investment—

(a)of the kind specified by article 76, 77, [F22877A,F228] 78, 79, 80, 81, [F22982B,F229] 83, 84 or 85; or

(b)of the kind specified by article 89 so far as relevant to an investment falling within sub-paragraph (a),

that is a financial instrument.F226]

[F230Operating an organised trading facility

25DA.—(1)The operation of an organised trading facility on which non-equity MiFID instruments are traded is a specified kind of activity.

[F231(1A)Paragraph (1) does not apply to a kind of activity to which article 25DB applies.F231]

(2)In paragraph (1) a “non-equity MiFID instrument” means any investment—

(a)of the kind specified by article 77, 77A, 78, 79, 80, 81, 82B, 83, 84 or 85; or

(b)of the kind specified by article 89 so far as relevant to an investment falling within sub-paragraph (a),

that is a bond, a structured finance product (within the meaning of Article 2.1.28 of the markets in financial instruments regulation), an emission allowance, or a derivative (within the meaning of Article 2.1.29 of the markets in financial instruments regulation).F230]

[F232Operating an electronic system for public offers of relevant securities

25DB.—(1)Operating an electronic system by means of which a qualifying public offer is made is a specified kind of activity.

(2)“Qualifying public offer” means an offer of relevant securities to the public in the United Kingdom that meets the following conditions.

(3)Condition A is that, if paragraph 13 of Schedule 1 to the Public Offers and Admissions to Trading Regulations 2024 (which exempts offers made by means of a regulated platform) were disregarded, the offer would be prohibited by regulation 12(1) of those Regulations.

(4)Condition B is that the relevant securities—

(a)fall within paragraph (1)(a) of regulation 5 of the Public Offers and Admissions to Trading Regulations 2024 (which defines “relevant securities” for the purposes of those Regulations) and are investments of a kind specified by Part 3 of this Order, or

(b)fall within paragraph (1)(b) of that regulation as a result of being investments of the kind specified by article 77.

(5)Condition C is that the relevant securities are not issued or to be issued by the person operating the electronic system.

(6)In paragraph (2), the reference to an offer of relevant securities to the public in the United Kingdom is to be read in accordance with regulation 7 of the Public Offers and Admissions to Trading Regulations 2024.

(7)In this article “relevant securities” has the same meaning as in the Public Offers and Admissions to Trading Regulations 2024 (see regulation 5 of those Regulations).F232]

[F233Arranging regulated sale and rent back agreements

25E.—(1)Making arrangements—

(a)for another person to enter into a regulated sale and rent back agreement as an agreement seller or as an agreement provider; or

(b)for another person (“A”) to vary the terms of a regulated sale and rent back agreement, entered into on or after 1st July 2009 by A as agreement seller or agreement provider, in such a way as to vary A’s obligations under that agreement,

is a specified kind of activity.

(2)Making arrangements with a view to a person who participates in the arrangements entering into a regulated sale and rent back agreement as agreement seller or agreement provider is also a specified kind of activity.F233]

Exclusions

Arrangements not causing a deal

26. There are excluded from [F234articles 25(1), 25A(1), 25B(1) [F235, 25C(1) and 25E(1)F235,F234]] arrangements which do not or would not bring about the transaction to which the arrangements relate.

Enabling parties to communicate

27.[F236—(1)F236] A person does not carry on an activity of the kind specified by [F237article 25(2), 25A(2), 25B(2) [F238, 25C(2) or 25 E(2)F238,F237]] merely by providing means by which one party to a transaction (or potential transaction) is able to communicate with other such parties.

[F239(2)A person does not carry on an activity of the kind specified by article 25DB merely by providing a means of communication, where the person is not holding out the means of communication as being provided for the making of qualifying public offers within the meaning of that article.F239]

Arranging transactions to which the arranger is a party

28.—(1) There are excluded from article 25(1) any arrangements for a transaction into which the person making the arrangements enters or is to enter as principal or as agent for some other person.

(2) There are excluded from article 25(2) any arrangements which a person makes with a view to transactions into which he enters or is to enter as principal or as agent for some other person.

[F240(3)But the exclusions in paragraphs (1) and (2) do not apply to arrangements made for or with a view to a transaction which relates to a contract of insurance, unless the person making the arrangements either—

(a)is the only policyholder; or

(b)as a result of the transaction, would become the only policyholder.F240]

[F241Arranging contracts [F242, plans or agreementsF242] to which the arranger is a party

28A.—(1)There are excluded from [F243articles 25A(1), 25B(1) [F244, 25C(1) and 25E(1)F244,F243]] any arrangements—

(a)for a [F245contract [F246, plan or agreementF246,F245]] into which the person making the arrangements enters or is to enter; or

(b)for a variation of a [F245contract [F246, plan or agreementF246,F245]] to which that person is (or is to become) a party.

(2)There are excluded from [F247articles 25A(2), 25B(2) [F248, 25C(2) and 25E(2)F248,F247]] any arrangements which a person makes with a view to contracts [F249, plans or agreementsF249] into which he enters or is to enter.F241]

Arranging deals with or through authorised personscross-notes

29.—(1) There are excluded from [F250articles 25(1) and (2), [F25125A(1), (2) and (2A)F251], 25B(1) and (2) [F252, 25C(1) and (2) and 25E(1) and (2)F252,F250]] arrangements made by a person (“A") who is not an authorised person for or with a view to a transaction which is or is to be entered into by a person (“the client") with or though an authorised person if—

(a)the transaction is or is to be entered into on advice to the client by an authorised person; or

(b)it is clear, in all the circumstances, that the client, in his capacity as an [F253investor, borrower, reversion seller, plan provider, home purchaser, agreement provider or (as the case may be) agreement sellerF253] , is not seeking and has not sought advice from A as to the merits of the client’s entering into the transaction (or, if the client has sought such advice, A has declined to give it but has recommended that the client seek such advice from an authorised person).

[F254(2)But the exclusion in paragraph (1) does not apply if—

(a)the transaction relates, or would relate, to a contract of insurance; or

(b)A receives from any person other than the client any pecuniary reward or other advantage, for which he does not account to the client, arising out of his making the arrangements.F254]

[F255(3)This article is subject to article 4(4) [F256and (4B)F256].F255]

[F257Arrangements made in the course of administration by authorised personcross-notes

29A.—(1)A person who is not an authorised person (“A”) does not carry on an activity of the kind specified by article 25A(1)(b) as a result of—

(a)anything done by an authorised person (“B”) in relation to a regulated mortgage contract which B is administering pursuant to an arrangement of the kind mentioned in article 62(a); or

(b)anything A does in connection with the administration of a regulated mortgage contract in circumstances falling within article 62(b).

[F259(2)A person who is not an authorised person (“A”) does not carry on an activity of the kind specified by article 25B(1)(b) as a result of—

(a)anything done by an authorised person (“B”) in relation to a regulated home reversion plan which B is administering pursuant to an arrangement of the kind mentioned in article 63C(a); or

(b)anything A does in connection with the administration of a regulated home reversion plan in circumstances falling within article 63C(b).

(3)A person who is not an authorised person (“A”) does not carry on an activity of the kind specified by article 25C(1)(b) as a result of—

(a)anything done by an authorised person (“B”) in relation to a regulated home purchase plan which B is administering pursuant to an arrangement of the kind mentioned in article 63G(a); or

(b)anything A does in connection with the administration of a regulated home purchase plan in circumstances falling within article 63G(b).F259]

[F260(4)A person who is not an authorised person (“A”) does not carry on an activity of the kind specified by article 25E(1)(b) as a result of—

(a)anything done by an authorised person (“B”) in relation to a regulated sale and rent back agreement which B is administering pursuant to an arrangement of the kind mentioned in article 63K(a); or

(b)anything A does in connection with the administration of a regulated sale and rent back agreement in circumstances falling within article 63K(b).F260,F257]]

Arranging transactions in connection with lending on the security of insurance policies

30.—(1) There are excluded from article 25(1) and (2) arrangements made by a money-lender under which either—

[F261(a)a relevant authorised person or a person acting on his behalf will introduce to the money-lender persons with whom the relevant authorised person has entered, or proposes to enter, into a relevant transaction, or will advise such persons to approach the money-lender, with a view to the money-lender lending money on the security of any contract effected pursuant to a relevant transaction;F261]

(b)a relevant authorised person gives an assurance to the money-lender as to the amount which, on the security of any contract effected pursuant to a relevant transaction, will or may be received by the money-lender should the money-lender lend money to a person introduced to him pursuant to the arrangements.

(2) In paragraph (1)—

[F265(3)This article is subject to article 4(4A).F265]

Arranging the acceptance of debentures in connection with loans

31.—(1) There are excluded from article 25(1) and (2) arrangements under which a person accepts or is to accept, whether as principal or agent, an instrument creating or acknowledging indebtedness in respect of any loan, credit, guarantee or other similar financial accommodation or assurance which is, or is to be, made, granted or provided by that person or his principal.

(2) The reference in paragraph (1) to a person accepting an instrument includes a reference to a person becoming a party to an instrument otherwise than as a debtor or a surety.

Provision of finance

32. There are excluded from article 25(2) arrangements having as their sole purpose the provision of finance to enable a person to buy, sell, subscribe for or underwrite investments.

Introducing

33. There are excluded from [F266articles 25(2), 25A(2), 25B(2) [F267, 25C(2) and 25E(2)F267,F266]] arrangements where—

(a)they are arrangements under which persons (“clients") will be introduced to another person;

(b)the person to whom introductions are to be made is—

(i)an authorised person;

(ii)an exempt person acting in the course of a business comprising a regulated activity in relation to which he is exempt; or

(iii)F276a person who is not unlawfully carrying on regulated activities in the United Kingdom and whose ordinary business involves him in engaging in an activity of the kind specified by any of articles 14, 21, 25, [F26825A,F268][F26925B, 25C,F269][F27025E,F270] 37 [F271, 39AF271] 40, 45, [F27251ZA, 51ZB, 51ZC, 51ZD, 51ZEF272] , [F27352, 53F273][F274, 53A, 53B[F275, 53C and 53DF275,F274]] (or, so far as relevant to any of those articles, article 64), or would do so apart from any exclusion from any of those articles made by this Order; ...

(c)the introduction is made with a view to the provision of independent advice or the independent exercise of discretion in relation to investments generally or in relation to any class of investments to which the arrangements relate [F277; and

[F278(d)The arrangements—

(i)are made with a view to a person entering into a transaction which does not relate to a contract of insurance, or

(ii)are of the type specified in article 33B (provision of information – contracts of insurance).F278,F277]]

[F279Introducing to authorised persons etc.

33A—(1)There are excluded from article 25A(2) arrangements where—

(a)they are arrangements under which a client is introduced to a person (“N”) who is—

(i)an authorised person who has permission to carry on a regulated activity of the kind specified by any of articles 25A, 53A, and 61(1),

(ii)an appointed representative who may carry on a regulated activity of the kind specified by either of articles 25A and 53A without contravening the general prohibition, or

(iii)an overseas person who carries on activities specified by any of articles 25A, 53A and 61(1); and

(b)the conditions mentioned in paragraph (2) are satisfied.

[F280(1A)There are excluded from article 25B(2) arrangements where—

(a)they are arrangements under which a client is introduced to a person (“N”) who is—

(i)an authorised person who has permission to carry on a regulated activity of the kind specified by any of articles 25B, 53B and 63B(1),

(ii)an appointed representative who may carry on a regulated activity of the kind specified by either of articles 25B and 53B without contravening the general prohibition, or

(iii)an overseas person who carries on activities specified by any of articles 25B, 53B and 63B(1); and

(b)the conditions mentioned in paragraph (2) are satisfied.

(1B)There are excluded from article 25C(2) arrangements where—

(a)they are arrangements under which a client is introduced to a person (“N”) who is—

(i)an authorised person who has permission to carry on a regulated activity of the kind specified by any of articles 25C, 53C and 63F(1),

(ii)an appointed representative who may carry on a regulated activity of the kind specified by either of articles 25C and 53C without contravening the general prohibition, or

(iii)an overseas person who carries on activities specified by any of articles 25C, 53C and 63F(1); and

(b)the conditions mentioned in paragraph (2) are satisfied.F280]

[F281(1C)There are excluded from article 25E(2) arrangements where—

(a)they are arrangements under which a client is introduced to a person (“N”) who is—

(i)an authorised person who has permission to carry on a regulated activity of the kind specified by any of articles 25E, 53D and 63J(1),

(ii)an appointed representative who may carry on a regulated activity of the kind specified by either of articles 25E or 53D without contravening the general prohibition, or

(iii)an overseas person who carries on activities specified by any of articles 25E, 53D and 63J(1); and

(b)the conditions mentioned in paragraph (2) are satisfied.F281]

(2)Those conditions are—

(a)that the person making the introduction (“P”) does not receive any money, other than money payable to P on his own account, paid by the client for or in connection with any transaction which the client enters into with or through N as a result of the introduction; and

(b)that before making the introduction P discloses to the client such of the information mentioned in paragraph (3) as applies to P.

(3)That information is—

(a)that P is a member of the same group as N;

(b)details of any payment which P will receive from N, by way of fee or commission, for introducing the client to N;

(c)an indication of any other reward or advantage received or to be received by P that arises out of his introducing clients to N.

[F282(4)In this article, “client” means—

(a)for the purposes of paragraph (1), a borrower within the meaning given by article 61(3)(a)(i), or a person who is or may be contemplating entering into a regulated mortgage contract as such a borrower;

(b)for the purposes of paragraph (1A), a reversion seller, a plan provider or a person who is or may be contemplating entering into a regulated home reversion plan as a reversion seller or as a plan provider;

(c)for the purposes of paragraph (1B), a home purchaser or a person who is or may be contemplating entering into a regulated home purchase plan as a home purchaser[F283;

(d)for the purposes of paragraph (1C), an agreement provider, an agreement seller or a person who is or may be contemplating entering into a regulated sale and rent back agreement as an agreement provider or agreement seller.F283,F282,F279]]]

[F284Provision of information – contracts of insurance

33B.—(1)There is excluded from article 25(1) and (2) (arranging deals in investments) the making of arrangements for, or with a view to, a transaction for the sale or purchase of a contract of insurance, where that activity meets the conditions specified in paragraphs (2) and (3).

(2)The conditions specified in this paragraph are that the activity—

(a)consists of the provision of information about a potential policyholder to a relevant insurer or an insurance or reinsurance intermediary, or

(b)consists of the provision of information to a potential policyholder about—

(i)a contract of insurance, or

(ii)a relevant insurer or insurance or reinsurance intermediary.

(3)The condition specified in this paragraph is that the provider of the information does not take any step other than the provision of information to assist in the conclusion of a contract of insurance.

(4)In this article—

[F285“insurance intermediary” means a person, other than an insurance or reinsurance undertaking, or an employee of such an undertaking, who has Part 4A permission to carry on an insurance distribution activity;F285]

[F286“reinsurance intermediary” means a person, other than a reinsurance undertaking, or an employee of such an undertaking, who has Part 4A permission to carry on an insurance distribution activity in relation to a contract of insurance that concerns reinsurance;F286]

“relevant insurer” has the meaning given in article 39B(2) (claims management on behalf of an insurer etc.).

[F287(5)In paragraph (4)—

“ancillary insurance intermediary”, “insurance distribution” and “reinsurance distribution” have the same meaning as in article 4;

“remuneration” means any commission, fee, charge or other payment, including an economic benefit of any kind or any other financial or non-financial advantage or incentive offered or given.F287,F284]]

Arrangements for the issue of shares etc.

34.—(1) There are excluded from article 25(1) and (2)—

(a)arrangements made by a company for the purposes of issuing its own shares or share warrants; and

(b)arrangements made by any person for the purposes of issuing his own debentures or debenture warrants;

and for the purposes of article 25(1) and (2), a company is not, by reason of issuing its own shares or share warrants, and a person is not, by reason of issuing his own debentures or debenture warrants, to be treated as selling them.

(2) In paragraph (1), “company", “shares", “debentures", “share warrants" and “debenture warrants" have the meanings given by article 18(2).

[F288(3)This article is subject to article 4(4).F288]

International securities self-regulating organisationscross-notes

35.—(1) There are excluded from article 25(1) and (2) any arrangements made for the purposes of carrying out the functions of a body or association which is approved under this article as an international securities self-regulating organisation, whether the arrangements are made by the organisation itself or by a person acting on its behalf.

(2) The Treasury may approve as an international securities self-regulating organisation any body corporate or unincorporated association with respect to which the conditions mentioned in paragraph (3) appear to them to be met if, having regard to such matters affecting international trade, overseas earnings and the balance of payments or otherwise as they consider relevant, it appears to them that to do so would be desirable and not result in any undue risk to investors.

(3) The conditions are that—

(a)the body or association does not have its head office in the United Kingdom;

(b)the body or association is not eligible for recognition under section 287 or 288 of the Act (applications by investment exchanges and clearing houses) on the ground that (whether or not it has applied, and whether or not it would be eligible on other grounds) it is unable to satisfy the requirements of one or both of paragraphs (a) and (b) of section 292(3) of the Act (requirements for overseas investment exchanges and overseas clearing houses);

[F289(ba)the body or association is also not eligible to become F290... a third country central counterparty (as defined in section 285(1)(d) of the Act);F289]

[F291(bb)the body or association is also not eligible to become F292... a third country CSD (as defined in section 285(1)(g) of the Act);F291]

(c)the body or association is able and willing to co-operate with [F293the FCA and the PRAF293] by the sharing of information and in other ways;

(d)adequate arrangements exist for co-operation between [F293the FCA and the PRAF293] and those responsible for the supervision of the body or association in the country or territory in which its head office is situated;

(e)the body or association has a membership composed of persons falling within any of the following categories, that is to say, authorised persons, exempt persons, and persons whose head offices are outside the United Kingdom and whose ordinary business involves them in engaging in activities which are activities of a kind specified by this Order (or would be apart from any exclusion made by this Part); and

(f)the body or association facilitates and regulates the activity of its members in the conduct of international securities business.

(4) In paragraph (3)(f), “international securities business" means the business of buying, selling, subscribing for or underwriting investments (or agreeing to do so), either as principal or agent, where—

(a)the investments are securities or [F294relevant investmentsF294] and are of a kind which, by their nature, and the manner in which the business is conducted, may be expected normally to be bought or dealt in by persons sufficiently expert to understand the risks involved; and

(b)either the transaction is international or each of the parties may be expected to be indifferent to the location of the other;

and, for the purposes of this definition, it is irrelevant that the investments may ultimately be bought otherwise than in the course of such business by persons not so expert.

(5) Any approval under this article is to be given by notice in writing; and the Treasury may by a further notice in writing withdraw any such approval if for any reason it appears to them that it is not appropriate to it to continue in force.

[F295Trade repositories

35A.—(1)A trade repository does not carry on an activity of the kind specified by article 25(2) by carrying on its functions of centrally collecting and maintaining records of—

[F297(a)F297]derivatives under Regulation (EU) 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories[F298; or

(b)securities financing transactions under the SFT regulationF298].

[F299(2)The reference in paragraph (1)(a) to Regulation (EU) 648/2012 is a reference to that instrument as it [F300forms part of [F301assimilatedF301] law.F300,F299,F295]]]

[F302Securitisation repositories

35ABA securitisation repository does not carry on an activity of the kind specified by article 25(2) by carrying on its functions of centrally collecting and maintaining records of securitisations under the [F303Securitisation Regulations 2024F303].F302]

F304Providing pensions guidance ...

F30535B.—(1) A person does not carry on an activity of the kind specified in article 25(1) or (2) by reason of providing pensions guidance ....

[F306(2)For the purposes of paragraph (1), pensions guidance means—

(a)information or guidance provided by the Money and Pensions Service in carrying out its pensions guidance function (see section 3 of the Financial Guidance and Claims Act 2018);

(b)information or guidance provided by another person with whom arrangements under section 5(1), (2) or (3) of the Financial Guidance and Claims Act 2018 are made to carry out the Money and Pensions Service’s pensions guidance function.F306]

Other exclusions

36.[F307—(1)F307] Article 25 is also subject to the exclusions in articles 66 (trustees etc.), 67 (profession or non-investment business), 68 (sale of goods and supply of services), 69 (groups and joint enterprises), 70 (sale of body corporate), 71 (employee share schemes) [F308, 72 (overseas persons)[F309,F310...72B (activities carried on by a provider of relevant goods or services), 72C (provision of information about contracts of insurance on an incidental basis)[F311, 72AA (managers of [F312UK UCITSF312] and AIFs)[F313, 72D (large risks contracts where risk situated [F314outside the United KingdomF314]), 72G (local authorities) and 72H (insolvency practitioners)F313,F311,F309,F308]]]] .

[F315(2)[F316Articles 25A, 25B[F317, 25C and 25EF317] areF316] also subject to the exclusions in articles 66 (trustees etc.), 67 (profession or non-investment business), 72 (overseas persons)[F318,F319...[F320 72AA (managers of [F312UK UCITSF312] and AIFs) and 72G (local authorities)F320,F318]].F315]

[F321(2A)Article 25A is also subject to the exclusion in article 72I (registered consumer buy-to-let mortgage firms).F321]

[F322(3)Article 25D is also subject to [F323the exclusions in articles 72 (overseas persons)[F324, 72AA (managers of [F312UK UCITSF312] and AIFs) and 72H (insolvency practitioners)F324,F323]].F322]

[F325Chapter 6ACredit Broking

The activity

Credit broking

36A.—(1)Each of the following is a specified kind of activity—

(a)effecting an introduction of an individual or relevant recipient of credit who wishes to enter into a credit agreement to a person (“P”) with a view to P entering into by way of business as lender a regulated credit agreement (or an agreement which would be a regulated credit agreement but for any of the relevant provisions);

(b)effecting an introduction of an individual or relevant recipient of credit who wishes to enter into a consumer hire agreement to a person (“P”) with a view to P entering into by way of business as owner a regulated consumer hire agreement or an agreement which would be a regulated consumer hire agreement but for article 60O (exempt agreements: exemptions relating to the nature of the agreement) or 60Q (exempt agreements: exemptions relating to the nature of the hirer);

(c)effecting an introduction of an individual or relevant recipient of credit who wishes to enter into a credit agreement or consumer hire agreement (as the case may be) to a person who carries on an activity of the kind specified in sub-paragraph (a) or (b) by way of business;

(d)presenting or offering an agreement which would (if entered into) be a regulated credit agreement (or an agreement which would be a regulated credit agreement but for any of the relevant provisions);

(e)assisting an individual or relevant recipient of credit by undertaking preparatory work with a view to that person entering into a regulated credit agreement (or an agreement which would be a regulated credit agreement but for any of the relevant provisions);

(f)entering into a regulated credit agreement (or an agreement which would be a regulated credit agreement but for any of the relevant provisions) on behalf of a lender.

(2)Paragraph (1) does not apply in so far as the activity is an activity of the kind specified by article 36H (operating an electronic system in relation to lending).

(3)For the purposes of paragraph (1) it is immaterial whether the credit agreement or consumer hire agreement is subject to the law of a country outside the United Kingdom.

(4)For the purposes of this article, the “relevant provisions” are the following provisions—

(a)article 60C (exempt agreements: exemptions relating to the nature of the agreement);

(b)article 60D (exempt agreements: exemptions relating to the purchase of land for non-residential purposes);

(c)article 60E (exempt agreements: exemptions relating to the nature of the lender)[F326, except for paragraph (5) of that articleF326];

(d)article 60G (exempt agreements: exemptions relating to the total charge for credit);

(e)article 60H (exempt agreements: exemptions relating to the nature of the borrower).

Exclusions

Introducing by individuals in the course of canvassing off trade premises

36B.—(1)There are excluded from article 36A activities carried on by an individual by canvassing off trade premises—

(a)a restricted-use credit agreement used to finance a transaction between the lender or a member of the lender’s group and the borrower whether forming part of that agreement or not, or

(b)a regulated consumer hire agreement.

(2)But paragraph (1) does not apply if A carries on any other activity of a kind specified by article 36A(1)(a) to (c).

(3)A canvasses a restricted-use credit agreement or a regulated consumer hire agreement off trade premises for the purposes of this article if—

(a)A solicits the entry of an individual or relevant recipient of credit (“B”) into such an agreement by making oral representations to B during a visit by A to any place (not excluded by paragraph (4)) where B is, and

(b)that visit is made by A for the purpose of making such oral representations.

(4)A place is excluded from paragraph (3) if it is a place where a business is carried on (whether on a permanent or temporary basis) by—

(a)the lender or owner,

(b)the supplier under the restricted-use credit agreement,

(c)A,

(d)a person who employs A or has appointed A as an agent, or

(e)B.

Activities for which no fee is paid

36C.—(1)There are excluded from sub-paragraphs (d), (e) and (f) of article 36A(1) activities carried on by a person for which that person does not receive a fee.

(2)For the purposes of this article, “fee” includes pecuniary consideration or any other form of financial consideration.

Transaction to which the broker is a party

36D.There are excluded from article 36A activities in relation to a regulated credit agreement (or an agreement which would be a regulated credit agreement but for the exclusions in articles 60C to 60H) or a regulated consumer hire agreement (or an agreement which would be a regulated consumer hire agreement but for the exclusions in articles 60O to 60Q) into which the person carrying on the activity enters or is to enter as lender or owner.

[F327Activities in relation to certain agreements relating to land

36E.—(1)There are excluded from article 36A activities carried on with a view to an individual or a relevant recipient of credit entering into an investment property loan, as defined in article 61A(6) (mortgage contracts which are not regulated mortgage contracts).

(2)There are excluded from article 36A activities of a kind specified by article 25A (arranging regulated mortgage contracts) or 25C (arranging regulated home purchase plans).

(3)There are excluded from article 36A other activities not excluded by paragraph (1) or (2) which consist of effecting an introduction with a view to an individual or relevant recipient of credit entering into a relevant agreement, if the person to whom the introduction is made is an authorised person who has permission to—

(a)enter into such an agreement as lender or home purchase provider (as the case may be), or

(b)make an introduction to an authorised person who has permission to enter into such an agreement as lender or home purchase provider (as the case may be).

(4)In paragraph (3) “relevant agreement” means a regulated mortgage contract or a regulated home purchase plan.F327]

36F.—(1)There are excluded from article 36A (credit broking) activities carried on by—

(a)a barrister or advocate acting in that capacity;

(b)a solicitor (within the meaning of the Solicitors Act 1974) in the course of providing advocacy services or litigation services;

(c)a solicitor (within the meaning of the Solicitors (Scotland) Act 1980) in the course of providing advocacy services or litigation services;

(d)a solicitor (within the meaning of the Solicitors (Northern Ireland) Order 1976) in the course of providing advocacy services or litigation services;

(e)a relevant person (other than a person falling within sub-paragraph (a) to (d)) in the course of providing advocacy services or litigation services.

(2)In paragraph (1)—

“advocacy services” means any services which it would be reasonable to expect a person who is exercising, or contemplating exercising, a right of audience in relation to any proceedings, or contemplated proceedings, to provide for the purpose of those proceedings or contemplated proceedings;

“litigation services” means any services which it would be reasonable to expect a person who is exercising, or contemplating exercising, a right to conduct litigation in relation to any proceedings, or contemplated proceedings, to provide for the purpose of those proceedings or contemplated proceedings;

“relevant person” means a person who, for the purposes of the Legal Services Act 2007, is an authorised person in relation to an activity which constitutes the exercise of a right of audience or the conduct of litigation (within the meaning of that Act).F328]

[F329Activities carried on by registered social landlords

36FA.—(1)There are excluded from article 36A (credit broking) activities carried on by a registered social landlord, for which the registered social landlord does not receive a fee.

(2)The exclusion in paragraph (1) only applies to activities relating to the introduction of an individual who wishes to enter into a credit agreement, to—

(a)a credit union;

(b)a community benefit society;

(c)a community interest company limited by guarantee;

(d)a registered charity, or a subsidiary of a registered charity;

(e)a subsidiary of a registered social landlord.

(3)For the purposes of this article, “fee” includes pecuniary consideration or any other form of financial consideration.

(4)In this article—

“community benefit society” means a registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014 or a registered society within the meaning of the Co-operative and Community Benefit SocietiesAct (Northern Ireland) 1969;

“community interest company limited by guarantee” means a community interest company limited by guarantee within the meaning of section 26 of the Companies (Audit, Investigations and Community Enterprise) Act 2004;

“credit union” means a credit union within the meaning of—

(a)

the Credit Unions Act 1979;

(b)

the Credit Unions (Northern Ireland) Order 1985;

“registered charity” means

(a)

in England and Wales, a charity registered under section 30(1) of the Charities Act 2011;

(b)

in Scotland, a charity registered within the meaning of section 13(1) of the Charities and Trustee Investment (Scotland) Act 2005

(c)

in Northern Ireland, a charity registered under section 16(2) of the Charities Act (Northern Ireland) 2008;

“registered social landlord” means—

(a)

in England, a private registered provider within the meaning of section 80(3) of the Housing and Regeneration Act 2008;

(b)

in Wales, a registered social landlord within the meaning of Part 1 of the Housing Act 1996;

(c)

in Scotland, a registered social landlord within the meaning of the Housing (Scotland) Act 2010;

(d)

in Northern Ireland, a housing association within the meaning of Part 2 of the Housing (Northern Ireland) Order 1992;

“subsidiary” means a subsidiary as defined by section 1159 of the Companies Act 2006.F329]

[F330Other exclusionsF330]

36G.Article 36A is also subject to [F331the exclusions in articles F332... 72G (local authorities) and 72I (registered consumer buy-to-let mortgage firms)F331].

Chapter 6BOperating an Electronic System in Relation to Lending

The activity

Operating an electronic system in relation to lending

36H.—(1)Where the [F333conditions in paragraphs (2), (2A) and (2C) areF333] satisfied, operating an electronic system which enables the operator (“A”) to facilitate persons (“B” and “C”) becoming the lender and borrower under an article 36H agreement is a specified kind of activity.

(2)The condition [F334in this paragraphF334] is that the system operated by A is capable of determining which agreements should be made available to each of B and C (whether in accordance with general instructions provided to A by B or C or otherwise).

[F335(2A)The condition in this paragraph is that A, or another person (“X”) acting under an arrangement with A or at A’s direction, undertakes to—

(a)receive payments in respect of [F336either interest or capital or bothF336] due under the article 36H agreement from C, and

(b)make payments in respect of [F337either interest or capital or bothF337] due under the article 36H agreement to B.

(2B)For the purposes of paragraph (2A)—

(a)an agreement by A to appoint X to perform the activities in that paragraph is to be treated as an undertaking by A within the meaning of that paragraph;

(b)it is immaterial that—

(i)payments may be subject to conditions;

(ii)A, or X, may be entitled to retain a portion or the entirety of any payment received from C.

(2C)The condition in this paragraph is that A, or another person (“X”) acting under an arrangement with A or at A’s direction, undertakes to perform, or A undertakes to appoint or direct another person to perform either or both of the following activities—

(a)taking steps to procure the payment of a debt under the article 36H agreement;

(b)exercising or enforcing rights under the article 36H agreement on behalf of B.F335]

[F338(2D)Where A carries on an activity of the kind specified in paragraph (1), it is a specified kind of activity for A to operate an electronic system where—

(a)that system enables A to facilitate a person (“B”) assuming the rights of the lender under an article 36H agreement by assignment or operation of law, and

(b)the conditions in paragraphs (2), (2A) and (2C) are satisfied where C is the borrower under the agreement in sub-paragraph (a).F338]

(3)The following are specified kinds of activities if carried on by A in the course of, or in connection with, the carrying on by A of the activity specified by paragraph (1) [F339or (2D)F339]—

(a)presenting or offering article 36H agreements to [F340either B or CF340] with a view to B becoming the lender under the article 36H agreement[F341orF341] C becoming the borrower under the article 36H agreement,

(b)furnishing information relevant to the financial standing of a person (“Y”) with a view to assisting in the determination as to whether another person should—

(i)enter into, as the lender, an article 36H agreement with Y, or

(ii)assume the rights of the lender under an article 36H agreement under which Y is the borrower,

(c)taking steps to procure the payment of a debt due under an article 36H agreement,

(d)[F342taking steps to perform duties, or exercise or enforceF342] rights under an article 36H agreement on behalf of the lender,

(e)[F343taking steps with a view toF343] ascertaining whether a credit information agency (within the meaning given by article 89A(6)) holds information relevant to the financial standing of an individual or relevant person,

(f)[F344taking steps with a view toF344] ascertaining the contents of such information,

(g)[F345taking steps with a view toF345] securing the correction of, the omission of anything from, or the making of any other kind of modification of, such information, F346...

(h)[F347taking steps with a view toF347] securing that a credit information agency which holds such information—

(i)stops holding the information, or

(ii)does not provide it to any other person [F348, or

(i)giving advice in relation to the taking of any of the steps in sub-paragraphs (e) to (h)F348].

[F349(4)[F350Subject to article 60C(4C),F350] an “article 36H agreement” is an agreement by which one person provides another person with credit and in relation to which—

(a)the condition in paragraph (4A) is satisfied, and

(b)the condition in either paragraph (5) or (6) is satisfied, or was satisfied at the time the agreement was entered into.

(4A)The condition in this paragraph is that A does not provide credit, assume the rights (by assignment or operation of law) of a person who provided credit, or receive credit under the agreement.F349]

(5)The condition in this paragraph is that the lender is an individual or relevant person.

(6)The condition in this paragraph is that the borrower is an individual or relevant person and—

(a)the lender provides the borrower with credit less than or equal to £25,000, or

(b)the agreement is not entered into by the borrower wholly or predominantly for the purposes of a business carried on, or intended to be carried on, by the borrower.

(7)Paragraphs (5) and (6) of article 60C (exempt agreements: exemptions relating to the nature of the agreement) apply for the purposes of paragraph (6)(b).

(8)It is immaterial for the purposes of this article whether the lender is carrying on a regulated activity.

[F351(9)In this article—

“assignment”, in relation to Scotland, means assignation;

“borrower” means a person who receives credit under an article 36H agreement or a person to whom the rights and duties of a borrower under such an agreement have passed by assignment or operation of law;

“credit” has the meaning given by article 60L;

“lender” means—

(a)

a person providing credit under an article 36H agreement, or

(b)

a person who by assignment or operation of law has assumed the rights of a person who provided credit under such an agreement;

“relevant person” means—

(a)

a partnership consisting of two or three persons not all of whom are bodies corporate, or

(b)

an unincorporated body of persons which does not consist entirely of bodies corporate and is not a partnership.F351]

[F352(10)For the purposes of the application of section 22(1) of the Act (regulated activities) to an activity of a kind specified by this article, article 88D (credit agreement), and article 73 (investments: general) in so far as it relates to that article, [F353haveF353] effect as if the reference to a credit agreement in article 88D includes a reference to an article 36H agreement.F352]

Exclusion

Information society services

F35436I. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F355Activities in relation to debentures and bonds

36IA.There is excluded from article 36H (operating an electronic system in relation to lending) any activity of a kind specified by article 14 (dealing in investments as principal), 25 (arranging deals in investments), 37 (managing investments) or 53 (advising on investments).F355]

Supplemental

Meaning of “consumer”

36J.—(1)For the purposes of sections 1G, 404E and 425A of the Act (meaning of “consumer”), a person (“C”) is only to be regarded as a person who uses, may use, has, may have used or has or may have contemplated using, services provided by authorised persons in carrying on a regulated activity of the kind specified by article 36H or article 64 in so far as relevant to that activity if—

(a)C is, may be, has been or may have been the lender under a relevant agreement and is an individual or relevant person, or

(b)C is, may be, has been or may have been the borrower under a relevant agreement, C is an individual or relevant person and one of the conditions in paragraph (2) is satisfied, or

(c)C meets the following conditions—

(i)C is, was or would be the lender under a relevant agreement, and

(ii)C is not, was not or would not be, as a result, carrying on a regulated activity.

(2)The conditions in this paragraph are that—

(a)the lender provides, provided or would provide the borrower with credit (within the meaning given by article 60L) less than or equal to £25,000, or

(b)the agreement is not, was not or would not be entered into by the borrower wholly or predominantly for the purposes of a business carried on, or intended to be carried on, by the borrower.

(3)Paragraphs (5) and (6) of article 60C (exempt agreements: exemptions relating to the nature of the agreement) apply for the purposes of paragraph (2)(b).

(4)In paragraph (1)—

“relevant agreement” means an agreement between one person (“the borrower”) and another person (“the lender”) by which the lender provides the borrower with credit (within the meaning given by article 60L);

“relevant person” has the meaning given in article 36H.F325]

Chapter VIIManaging Investments

The activity

Managing investments

37. Managing assets belonging to another person, in circumstances involving the exercise of discretion, is a specified kind of activity if—

(a)the assets consist of or include any investment which is a security[F356, structured depositF356] or a contractually based investment; or

(b)the arrangements for their management are such that the assets may consist of or include such investments, and either the assets have at any time since 29th April 1988 done so, or the arrangements have at any time (whether before or after that date) been held out as arrangements under which the assets would do so.

Exclusions

Attorneys

38.[F357—(1)F357] A person does not carry on an activity of the kind specified by article 37 if—

(a)he is a person appointed to manage the assets in question under a power of attorney; and

(b)all routine or day-to-day decisions, so far as relating to investments of a kind mentioned in article 37(a), are taken on behalf of that person by—

(i)F358an authorised person with permission to carry on activities of the kind specified by article 37; ...

(ii)a person who is an exempt person in relation to activities of that kind [F359; or

(iii)an overseas person.F359]

[F360(2) This article is subject to article 4(4).F360]

Other exclusions

39. Article 37 is also subject to the exclusions in articles 66 (trustees etc.), 68 (sale of goods and supply of services) [F361, 69 (groups and joint enterprises)F361]F363[F362...[F364, 72AA (managers of [F365UK UCITSF365] and AIFs) [F366, 72C (provision of information about contracts of insurance on an incidental basis) and 72H (insolvency practitioners)F366,F364,F362]]] .

[F367CHAPTER VIIAAssisting in the Administration and Performance of a Contract of Insurance

The activity

Assisting in the administration and performance of a contract of insurance

39A.Assisting in the administration and performance of a contract of insurance is a specified kind of activity.

Exclusions

Claims management on behalf of an insurer etc.

39B.—(1)A person does not carry on an activity of the kind specified by article 39A if he acts in the course of carrying on the activity of—

(a)expert appraisal;

(b)loss adjusting on behalf of a relevant insurer; or

(c)managing claims on behalf of a relevant insurer,

and that activity is carried on in the course of carrying on any profession or business.

(2)In this article—

(a)“relevant insurer” means—

(i)a person who has Part IV permission to carry on an activity of the kind specified by article 10;

(ii)a person to whom the general prohibition does not apply by virtue of section 316(1)(a) of the Act (members of the Society of Lloyd's);

(iii)F368...;or

(iv)a relevant reinsurer;

(b)“relevant reinsurer” means a person whose main business consists of accepting risks ceded by—

(i)a person falling within sub-paragraph (i), (ii) or (iii) of the definition of “relevant insurer”; F369...

[F370(ii)F371...; or

(iii)a person established outside the United Kingdom F372... who carries on an activity of the kind specified by article 10 by way of business.F370]

Other exclusions

39C.Article 39A is also subject to the exclusions in articles 66 (trustees etc.), 67 (profession or non-investment business)F373..., 72B (activities carried on by a provider of relevant goods or services), 72C (provision of information about contracts of insurance on an incidental basis) [F374, 72AA (managers of [F375UK UCITSF375] and AIFs) [F376, 72D (large risks contracts where risk situated [F377outside the United KingdomF377]), 72G (local authorities) and 72H (insolvency practitioners)F376])F374].F367]

[F378Chapter 7BActivities in Relation to Debt

The activities

Debt adjusting

39D.—(1)When carried on in relation to debts due under a credit agreement—

(a)negotiating with the lender, on behalf of the borrower, terms for the discharge of a debt,

(b)taking over, in return for payments by the borrower, that person’s obligation to discharge a debt, or

(c)any similar activity concerned with the liquidation of a debt,

is a specified kind of activity.

(2)When carried on in relation to debts due under a consumer hire agreement—

(a)negotiating with the owner, on behalf of the hirer, terms for the discharge of a debt,

(b)taking over, in return for payments by the hirer, that person’s obligation to discharge a debt, or

(c)any similar activity concerned with the liquidation of a debt,

is a specified kind of activity.

Debt-counselling

39E.—(1)Giving advice to a borrower about the liquidation of a debt due under a credit agreement is a specified kind of activity.

(2)Giving advice to a hirer about the liquidation of a debt due under a consumer hire agreement is a specified kind of activity.

Debt-collecting

39F.—(1)Taking steps to procure the payment of a debt due under a credit agreement or a relevant article 36H agreement is a specified kind of activity.

(2)Taking steps to procure the payment of a debt due under a consumer hire agreement is a specified kind of activity.

(3)Paragraph (1) does not apply in so far as the activity is an activity of the kind specified by article 36H (operating an electronic system in relation to lending).

(4)In this article, “relevant article 36H agreement” means an article 36H agreement (within the meaning of article 36H) which has been entered into with the facilitation of an authorised person with permission to carry on a regulated activity of the kind specified by that article.

Debt administration

39G.—(1)Subject to paragraph (3), taking steps—

(a)to perform duties under a credit agreement or relevant article 36H agreement on behalf of the lender, or

(b)to exercise or enforce rights under such an agreement on behalf of the lender,

is a specified kind of activity

(2)Subject to paragraph (3), taking steps—

(a)to perform duties under a consumer hire agreement on behalf of the owner, or

(b)to exercise or enforce rights under such an agreement on behalf of the owner,

is a specified kind of activity.

(3)Paragraphs (1) and (2) do not apply in so far as the activity is an activity of the kind specified by article 36H (operating an electronic system in relation to lending) or article 39F (debt-collecting).

(4)In this article, “relevant article 36H agreement” means an article 36H agreement (within the meaning of article 36H) which has been entered into with the facilitation of an authorised person with permission to carry on a regulated activity of the kind specified by that article.

Exclusions

Activities where person has a connection to the agreement

39H.—(1)There are excluded from articles 39D(1), 39E(1) and 39F(1) activities carried on by a person who is—

(a)the lender under the agreement,

(b)the supplier in relation to that agreement,

(c)a person carrying on an activity of the kind specified by article 36A by way of business and who has acquired the business of the person who was the supplier in relation to the agreement, or

(d)a person who would be carrying on an activity of the kind specified by article 36A by way of business but for the exclusion in article 36B where the agreement was made in consequence of an introduction (by that person or another person) to which article 36B applies.

[F379(1A)In so far as it applies to article 39F(1), the exclusion in paragraph (1)(a) does not apply to a lender under a credit agreement which is an exempt agreement by virtue of article 60C(4A).F379]

(2)There are excluded from articles 39D(2), 39E(2) and 39F(2) activities carried on by a person who is—

(a)the owner under the consumer hire agreement, or

(b)a person who would be carrying on an activity of the kind specified by article 36A by way of business but for the exclusion in article 36B where the agreement was made in consequence of an introduction (by that person or another person) to which article 36B applies.

(3)There is excluded from article 39G(1) steps taken under or in relation to an agreement [F380byF380] a person who is, in relation to that agreement, a person falling within paragraph (1)(a) to (d).

(4)There is excluded from article 39G(2) steps taken under or in relation to a consumer hire agreement[F381byF381] a person who is, in relation to that agreement, a person falling within paragraph (2)(a) or (b).

(5)In paragraph (1), “supplier”, in relation to an agreement, means—

(a)a person, other than the lender, whose transaction with the borrower is, or is to be, financed by the agreement, or

(b)a person to whom the rights and duties of a person falling within sub-paragraph (a) have been passed by assignment or operation of law.

Activities carried on by certain energy suppliers

39I.—(1)There are excluded from articles 39D, 39E, 39F and 39G activities carried on by a relevant energy supplier acting in that capacity in relation to debts due under a green deal plan associated with the supplier.

(2)A green deal plan is associated with a supplier if the payments under the plan are to be made to the supplier.

(3)In this article—

(a)[F382“green deal plan” has the meaning given by section 1 of the Energy Act 2011;F382]

(b)“relevant energy supplier” has the meaning given in regulations made for the purpose of section 2(9) of [F383that ActF383][F383the Energy Act 2011F383].

Activities carried on in relation to a relevant agreement in relation to land

39J.There [F384isF384] excluded from articles 39D, 39E, 39F and 39G [F385any activity that relatesF385] to a regulated mortgage contract or a regulated home purchase plan[F386to the extent that the activity constitutes an activity of the kind specified by a provision of Part 2 of this Order other than articles 39D, 39E, 39F and 39G, where entering into that contract as lender constitutes an activity of the kind specified by article 61 or entering into that plan as home purchase provider constitutes an activity of the kind under article 63FF386].

39K.—(1)There are excluded from articles 39D, 39E, 39F and 39G activities carried on by—

(a)a barrister or advocate acting in that capacity;

(b)a solicitor (within the meaning of the Solicitors Act 1974) in the course of providing advocacy services or litigation services;

(c)a solicitor (within the meaning of the Solicitors (Scotland) Act 1980) in the course of providing advocacy services or litigation services;

(d)a solicitor (within the meaning of the Solicitors (Northern Ireland) Order 1976) in the course of providing advocacy services or litigation services;

(e)a relevant person (other than a person falling within sub-paragraph (a) to (d)) in the course of providing advocacy services or litigation services.

(2)In paragraph (1)—

“advocacy services” means any services which it would be reasonable to expect a person who is exercising, or contemplating exercising, a right of audience in relation to any proceedings, or contemplated proceedings, to provide for the purpose of those proceedings or contemplated proceedings;

“litigation services” means any services which it would be reasonable to expect a person who is exercising, or contemplating exercising, a right to conduct litigation in relation to any proceedings, or contemplated proceedings, to provide for the purpose of those proceedings or contemplated proceedings;

“relevant person” means a person who, for the purposes of the Legal Services Act 2007, is an authorised person in relation to an activity which constitutes the exercise of a right of audience or the conduct of litigation (within the meaning of that Act).F387]

F388Activities carried on by reason of providing pensions guidance ...

F38939KA.—(1) There are excluded from article 39E activities carried on by reason of providing pensions guidance ....

[F390(2)For the purposes of paragraph (1), pensions guidance means—

(a)information or guidance provided by the Money and Pensions Service in carrying out its pensions guidance function (see section 3 of the Financial Guidance and Claims Act 2018);

(b)information or guidance provided by another person with whom arrangements under section 5(1), (2) or (3) of the Financial Guidance and Claims Act 2018 are made to carry out the Money and Pensions Service’s pensions guidance function.F390]

[F391Other exclusionsF391]

39L.Articles 39D, 39E, 39F and 39G are also subject to the [F392exclusionsF392] in F393...[F394, article 72G (local authorities) and article 72H (insolvency practitioners)F394].

Supplemental

Meaning of “consumer” etc.

39M.—(1)For the purposes of sections 1G, 404E and 425A of the Act (meaning of “consumer”), in so far as those provisions relate to a person (“A”) carrying on a regulated activity of the kind specified by article 39F (debt-collecting) or 39G (debt administration), or article 64 (agreeing to carry on specified kinds of activity) so far as relevant to that activity the following are to be treated as a “consumer”—

(a)the borrower under the agreement or the hirer under the consumer hire agreement;

(b)someone who has been the borrower or hirer under that agreement;

(c)a person who is treated by A as a person falling within sub-paragraph (a) or (b).

(2)For the purposes of section 328(8) of the Act (meaning of “clients”) in so far as that provision relates to a person (“A”) carrying on a regulated activity of the kind specified by article 39F or 39G, the following are to be treated as a “client”—

(a)the borrower under the agreement or the hirer under the consumer hire agreement;

(b)someone who has been the borrower or hirer under that agreement;

(c)a person who is treated by A as a person falling within sub-paragraph (a) or (b).

(3)In this article, “borrower” includes (in addition to those persons included in the definition in article 60L)—

(a)any person providing a guarantee or indemnity under the agreement, and

(b)a person to whom the rights and duties of a person falling within sub-paragraph (a) have passed by assignment or operation of law.F378]

Chapter VIIISafeguarding and Administering Investments

The activity

Safeguarding and administering investments

40.—(1) The activity consisting of both—

(a)the safeguarding of assets belonging to another, and

(b)the administration of those assets,

or arranging for one or more other persons to carry on that activity, is a specified kind of activity if the condition in sub-paragraph (a) or (b) of paragraph (2) is met.

(2) The condition is that—

(a)the assets consist of or include any investment which is a security or a contractually based investment; or

(b)the arrangements for their safeguarding and administration are such that the assets may consist of or include such investments, and either the assets have at any time since 1st June 1997 done so, or the arrangements have at any time (whether before or after that date) been held out as ones under which such investments would be safeguarded and administered.

(3) For the purposes of this article—

(a)it is immaterial that title to the assets safeguarded and administered is held in uncertificated form;

(b)it is immaterial that the assets safeguarded and administered may be transferred to another person, subject to a commitment by the person safeguarding and administering them, or arranging for their safeguarding and administration, that they will be replaced by equivalent assets at some future date or when so requested by the person to whom they belong.

Exclusions

Acceptance of responsibility by third party

41.—(1) There are excluded from article 40 any activities which a person carries on pursuant to arrangements which—

(a)are ones under which a qualifying custodian undertakes to the person to whom the assets belong a responsibility in respect of the assets which is no less onerous than the qualifying custodian would have if the qualifying custodian were safeguarding and administering the assets; and

(b)are operated by the qualifying custodian in the course of carrying on in the United Kingdom an activity of the kind specified by article 40.

(2) In paragraph (1), “qualifying custodian" means a person who is—

(a)an authorised person who has permission to carry on an activity of the kind specified by article 40, or

(b)an exempt person acting in the course of a business comprising a regulated activity in relation to which he is exempt.

Introduction to qualifying custodians

42.—(1) There are excluded from article 40 any arrangements pursuant to which introductions are made by a person (“P") to a qualifying custodian with a view to the qualifying custodian providing in the United Kingdom a service comprising an activity of the kind specified by article 40, where the qualifying person (or other person who is to safeguard and administer the assets in question) is not connected with P.

(2) For the purposes of paragraph (1)—

(a)“qualifying custodian" has the meaning given by article 41(2); and

(b)a person is connected with P if either he is a member of the same group as P, or P is remunerated by him.

[F395Depositaries of [F396UK UCITSF396] and AIFscross-notes

42A.A person does not carry on an activity of the kind specified by article 40 if the person carries on the activity in relation to—

(a)[F397a UK UCITSF397], and the person has a Part 4A permission to carry on the activity specified in article 51ZB in respect of that UCITS; or

(b)an AIF, and the person has a Part 4A permission to carry on the activity specified in article 51ZD in respect of that AIF.F395]

Activities not constituting administration

43. The following activities do not constitute the administration of assets for the purposes of article 40—

(a)providing information as to the number of units or the value of any assets safeguarded;

(b)converting currency;

(c)receiving documents relating to an investment solely for the purpose of onward transmission to, from or at the direction of the person to whom the investment belongs.

Other exclusions

44. Article 40 is also subject to the exclusions in articles 66 (trustees etc.), 67 (profession or non-investment business), 68 (sale of goods and supply of services), 69 (groups and joint enterprises) [F398, 71 (employee share schemes)F398]F400[F399...[F401, 72AA (managers of [F402UK UCITSF402] and AIFs) [F403, 72C (provisions of information about contracts of insurance on an incidental basis) and 72H (insolvency practitioners)F403,F401,F399]]] .

Chapter IXSending Dematerialised Instructions

The activities

Sending dematerialised instructions

45.—(1) Sending, on behalf of another person, dematerialised instructions relating to a security[F404or a contractually based investmentF404] is a specified kind of activity, where those instructions are sent by means of a relevant system [F405within the meaning of the 2001 RegulationsF405] .

(2) Causing dematerialised instructions relating to a security[F406or a contractually based investmentF406] to be sent [F407on behalf of another personF407] by means of such a system is also a specified kind of activity where the person causing them to be sent is a system-participant.

(3) In this Chapter—

[F408(a)“the 2001 Regulations” means the Uncertificated Securities Regulations 2001;F408]

(b)F409“dematerialised instruction", ..., “settlement bank" and “system-participant" have the meaning given by regulation 3 of the [F4102001F410] Regulations.

Exclusions

Instructions on behalf of participating issuers

46. There is excluded from article 45 the act of sending, or causing to be sent, a dematerialised instruction where the person on whose behalf the instruction is sent or caused to be sent is a participating issuer within the meaning of the [F4112001F411] Regulations.

Instructions on behalf of settlement banks

47. There is excluded from article 45 the act of sending, or causing to be sent, a dematerialised instruction where the person on whose behalf the instruction is sent or caused to be sent is a settlement bank in its capacity as such.

Instructions in connection with takeover offers

48.—(1) There is excluded from article 45 of the act of sending, or causing to be sent, a dematerialised instruction where the person on whose behalf the instruction is sent or caused to be sent is an offeror making a takeover offer.

(2) In this article—

(a)“offeror" means, in the case of a takeover offer made by two or more persons jointly, the joint offers or any of them;

(b)“takeover offer" means—

(i)an offer to acquire shares (which in this sub-paragraph has the same meaning as in [F412section 974 of the Companies Act 2006F412] ) in a body corporate incorporated in the United Kingdom which is a takeover offer within the meaning of [F413Chapter 3 of Part 28F413] of that Act (or would be such an offer if that Part of that Act applied in relation to any body corporate);

(ii)an offer to acquire all or substantially all the shares, or all the shares of a particular class, in a body corporate incorporated outside the United Kingdom; or

(iii)an offer made to all the holders of shares, or shares of a particular class, in a body corporate to acquire a specified proportion of those shares;

but in determining whether an offer falls within paragraph (ii) there are to be disregarded any shares which the offeror or any associate of his (within the meaning of [F414section 988 of the Companies Act 2006F414] ) holds or has contracted to acquire; and in determining whether an offer falls within paragraph (iii) the offeror, any such associate and any person whose shares the offeror or any such associate has contracted to acquire is not to be regarded as a holder of shares.

Instructions in the course of providing a network

49. There is excluded from article 45 the act of sending, or causing to be sent, a dematerialised instruction as a necessary part of providing a network, the purpose of which is to carry dematerialised instructions which are at all time properly authenticated (within the meaning of the [F4152001F415] Regulations).

Other exclusions

50. Article 45 is also subject to the exclusions in articles 66 (trustees etc.) [F416, 69 (groups and joint enterprises)F418[F417...[F419, 72AA (managers of [F420UK UCITSF420] and AIFs) and 72H (insolvency practitioners)F419,F417,F416]]] .

Chapter XF421Collective Investment ...

The activities

Establishing etc. a collective investment scheme

F42251. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F422Managing [F423a UK UCITSF423]

51ZA.—(1)Managing [F424a UK UCITSF424] is a specified kind of activity.

[F425(2)A person manages a UK UCITS when the person carries on collective portfolio management of it.

(2A)In paragraph (2) “collective portfolio management” includes investment management, administration and marketing; and “administration” here means—

(a)legal and fund management accounting services;

(b)customer inquiries;

(c)valuation and pricing (including tax returns);

(d)regulatory compliance monitoring;

(e)maintenance of unit-holder register;

(f)distribution of income;

(g)unit issues and redemptions;

(h)contract settlements (including certificate dispatch);

(i)record keeping.”.F425]

(3)If a person manages [F426a UK UCITSF426] and also carries on other activities in connection with or for the purposes of the management of that UCITS, such other activities are also included in the activity specified in paragraph (1).

Acting as trustee or depositary of [F427a UK UCITSF427]

51ZB.—(1)Acting as—

(a)the trustee of an authorised unit trust scheme, or

(b)the depositary of an open-ended investment company or authorised contractual scheme,

where the scheme or company is [F428a UK UCITSF428], is a specified kind of activity.

(2)In paragraph (1), “authorised contractual scheme”, “authorised unit trust scheme”, “trustee” and “depositary” have the meanings given by section 237 of the Act (other definitions).

Managing an AIF

51ZC.—(1)Managing an AIF is a specified kind of activity.

(2)A person manages an AIF when the person performs at least risk management or portfolio management for the AIF.

(3)A person does not manage an AIF if the functions they perform for the AIF have been delegated to it by another person, provided that such other person is not an AIFM that has delegated such functions to the extent that it is a letter-box entity.

(4)Paragraph (5) applies if a person manages an AIF, and also carries on—

(a)one or more of the additional activities listed in paragraph 2 of Annex 1 to the alternative investment fund managers directive (the text of which is set out in Schedule 7) for that AIF; or

(b)one or more other activities in connection with or for the purposes of the management of that AIF.

(5)The additional or other activities are included in the activity specified in paragraph (1).

(6)Any expression used in this article which is not defined in this Order and is used in the alternative investment fund managers directive has the same meaning as in that directive.

Acting as trustee or depositary of an AIF

51ZD.—(1)Acting as—

(a)the depositary of an AIF falling within paragraph (2),

(b)the trustee of an authorised unit trust scheme which is an AIF that does not fall within paragraph (2), or

(c)the depositary of an open-ended investment company or authorised contractual scheme which is an AIF that does not fall within paragraph (2),

is a specified kind of activity.

(2)An AIF falls within this paragraph if it is—

(a)an AIF managed by a full-scope UKAIFM; F429...

F429(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)In paragraph (1)(a) “depositary” means—

[F430(a)a person appointed as a depositary by the AIFM in compliance with a requirement imposed by rule 3.11.10, 3.11.12 or 3.11.33 of the Investment Funds sourcebook; orF430]

(b)an Article 36 custodian as defined in regulation 57(5)(a) of the Alternative Investment Fund Managers Regulations 2013.

(4)In paragraph (1)(b) “authorised unit trust scheme” and “trustee” have the meanings given by section 237 of the Act.

(5)In paragraph (1)(c) “authorised contractual scheme” and “depositary” have the meanings given by section 237 of the Act.

(6)Until 22nd July 2017, an AIF also falls within paragraph (2) if the FCA or an authority in another EEA State has permitted a person with its registered office or a branch in the United Kingdom to be appointed as a depositary of the AIF in accordance with Article 61.5 of the alternative investment fund managers directive.

Establishing etc. a collective investment scheme

51ZE.Establishing, operating or winding up a collective investment scheme is a specified kind of activity.

Exclusions

Persons excluded from managing an AIF

51ZF.There is excluded from article 51ZC the activity of managing an AIF if the person carrying on the activity is listed or described in Schedule 8.

Operating a collective investment scheme in relation to [F431a UK UCITSF431] or an AIF

51ZG.—(1)A person does not carry on an activity of the kind specified by article 51ZE if the person carries on the activity—

(a)in relation to [F432a UK UCITSF432], and—

(i)at the time the person carries on the activity, the UCITS is managed by a person with a Part 4A permission to carry on the activity specified by article 51ZA in respect of that UCITS; or

(ii)no more than the permitted period has passed since the UCITS was managed by a person with such a Part 4A permission; or

(b)in relation to an AIF, and—

(i)at the time the person carries on the activity, the AIF is managed by—

(aa)a person with a Part 4A permission to carry on the activity specified by article 51ZC in respect of that AIF; or

(bb)a person registered as a small registered UKAIFM because the conditions in regulation 10(4) of the Alternative Investment Fund Managers Regulations 2013 are met in respect of that AIF; or

(ii)no more than the permitted period has passed since the AIF was managed by a person with such a Part 4A permission or registration.

(2)In this article “the permitted period” means a period calculated as follows—

(a)subject to sub-paragraphs (b) and (c), the period is 30 days;

(b)if, before the end of the period, the FCA receives notice of the action being taken to appoint a person with a Part 4A permission or registration to manage [F433the UK UCITS or the AIFF433], the period is extended by a further 30 days, and may be so extended a second time;

(c)if, before the end of the period calculated in accordance with sub-paragraphs (a) and (b), the FCA receives notice of a proposal in respect of [F434the UK UCITS or the AIFF434] for a new manager under section 251(3) of the Act, a new operator under section 261Q(5) of the Act or a new director under regulation 21(1)(e) of the Open-Ended Investment Company Regulations 2001, the period is further extended until the earlier of—

(i)the date on which the FCA gives written notice of its approval to the proposal;

(ii)the date on which the FCA gives a decision notice refusing the proposal; or

(iii)one month after the date on which notice of the proposal was given.F422]

F422 ...

[[F435,F436Other exclusionsF436]

51A.[F437Articles 51ZA, 51ZB, 51ZC, 51ZD, and 51ZE are alsoF437] subject to the [F438exclusionsF438] in [F439articlesF439][F44072AA (managers of [F441UK UCITSF441] and AIFs) and 72H (insolvency practitioners)F440].F435]

Chapter XIF442... Pension Schemes

The activities

[F443Establishing etc. a pension scheme

52.The following are specified kinds of activity—

(a)establishing, operating or winding up a stakeholder pension scheme;

(b)establishing, operating or winding up a personal pension scheme.F443]

[F444Exclusion

[F445Other exclusionsF445]

52A.Article 52 is subject to the [F446exclusionsF446] in [F447articlesF447][F44872AA (managers of [F449UK UCITSF449] and AIFs) and 72H (insolvency practitioners)F448].F444]

[F450CHAPTER XIAProviding Basic Advice On Stakeholder Products

The activity

Providing basic advice on stakeholder products

52B.—(1)Providing basic advice to a retail consumer on a stakeholder product is a specified kind of activity.

(2)For the purposes of paragraph (1), a person (“P”) provides basic advice when—

(a)he asks a retail consumer questions to enable him to assess whether a stakeholder product is appropriate for that consumer; and

(b)relying on the information provided by the retail consumer P assesses that a stakeholder product is appropriate for the retail consumer and—

(i)describes that product to that consumer;

(ii)gives a recommendation of that product to that consumer; and

(c)the retail consumer has indicated to P that he has understood the description and the recommendation in sub-paragraph (b).

(3)In this article—

“retail consumer” means any person who is advised by P on the merits of opening or buying a stakeholder product in the course of a business carried on by P and who does not receive the advice in the course of a business carried on by him;

“stakeholder product” means—

(a)

an account which qualifies as a stakeholder child trust fund within the meaning given by the Child Trust Funds Regulations 2004;

(b)

[F451rights under a stakeholder pension scheme;F451]

“relevant stakeholder pension scheme” means a stakeholder pension scheme within the meaning given by section 1 of the Welfare Reform and Pensions Act 1999 and which is subject to lifestyling, and

“lifestyling” means the process, applied from a date at least five years before the member’s retirement date, or, in the case of a member who joins the scheme less than five years before his retirement date, immediately after he becomes a member, and continuing until the member’s retirement date, by which an investment strategy is adopted by the trustees or manager which aims progressively to minimise the variation or potential variation in the value of the member’s rights caused by market conditions from time to time, and the words “member” and “scheme” have the same meaning as they have in the Welfare Reform and Pensions Act 1999;

(c)

an investment of a kind specified in regulations made by the Treasury.F450]

[F452ExclusionF452]

F453Providing pensions guidance ...

F45452C.—(1) A person does not carry on an activity of the kind specified in article 52B by reason of providing pensions guidance ....

[F455(2)For the purposes of paragraph (1), pensions guidance means—

(a)information or guidance provided by the Money and Pensions Service in carrying out its pensions guidance function (see section 3 of the Financial Guidance and Claims Act 2018);

(b)information or guidance provided by another person with whom arrangements under section 5(1), (2) or (3) of the Financial Guidance and Claims Act 2018 are made to carry out the Money and Pensions Service’s pensions guidance function.F455]

Chapter XIIAdvising on Investments

The activity

Advising on investments

53.[F456—(1)F456] Advising a person is a specified kind of activity if the advice is—

(a)given to the person in his capacity as an investor or potential investor, or in his capacity as agent for an investor or a potential investor; and

(b)advice on the merits of his doing any of the following (whether as principal or agent)—

(i)buying, selling, subscribing for [F457, exchanging, redeeming, holdingF457] or underwriting a particular investment which is a security[F458, structured depositF458] or a [F459relevant investmentF459] , or

(ii)exercising [F460or not exercisingF460] any right conferred by such an investment to buy, sell, subscribe for [F461, exchange or redeemF461] such an investment.

[F462(1A)Paragraph (1) does not apply to a person who is appropriately authorised except to the extent that they are providing a personal recommendation.

(1B)A person is appropriately authorised when they are authorised for the purposes of the Act to carry on an activity of a kind specified by a provision of this Order which is not the activity specified by paragraph (1) and is not the activity of agreeing to carry on the activity specified by paragraph (1).

(1C)Subject to paragraph (1D), a personal recommendation is a recommendation–

(a)made to a person in their capacity as an investor or potential investor, or in their capacity as agent for an investor or a potential investor;

(b)which constitutes a recommendation to them to do any of the following (whether as principal or agent)–

(i)buy, sell, subscribe for, exchange, redeem, hold or underwrite a particular investment which is a security[F463, structured depositF463] or a relevant investment; or

(ii)exercise or not exercise any right conferred by such an investment to buy, sell, subscribe for, exchange or redeem such an investment; and

(c)that is–

(i)presented as suitable for the person to whom it is made; or

(ii)based on a consideration of the circumstances of that person.

(1D)A recommendation is not a personal recommendation if it is issued exclusively to the public.F462]

[F464(2)Advising a person is a specified kind of activity if the advice is—

(a)given to the person in that person’s capacity as a lender or potential lender under a relevant article 36H agreement, or in that person’s capacity as an agent for a lender or potential lender under such an agreement; and

(b)advice on the merits of that person doing any of the following (whether as principal or agent)—

(i)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)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)enforcing or exercising the lender’s rights under a relevant article 36H agreement, or

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

(3)Paragraph (2) does not apply in so far as—

(a)the advice is given in relation to a relevant article 36H agreement which has been facilitated by the person giving the advice, in the course of carrying on an activity of a kind specified by article 36H and is given by—

(i)an authorised person with permission to carry on a regulated activity of the kind specified by article 36H(1) (operating an electronic system in relation to lending),

(ii)an appointed representative in relation to that activity,

(iii)an exempt person in relation to that activity, or

(iv)a person to whom, as a result of Part 20 of the Act, the general prohibition does not apply in relation to that activity;

(b)the advice is given in the course of carrying on an activity of a kind specified by article 39F (debt-collecting) by a person carrying on that activity not in contravention of the general prohibition; or

(c)the advice is given in the course of carrying on an activity of a kind specified by article 39G (debt administration) by a person carrying on that activity not in contravention of the general prohibition.

(4)In this article—

“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 (within the meaning of article 36H (operating an electronic system in relation to lending)) which has been, or may be, entered into with the facilitation of a person carrying on an activity of the kind specified by article 36H(1) or (2D).

(5)For the purposes of the application of section 22(1) of the Act (regulated activities) to an activity of a kind specified by paragraph (2) of this article, article 88D (credit agreement), and article 73 (investments: general) in so far as it relates to that article, have effect as if the reference to a credit agreement in article 88D includes a reference to a relevant article 36H agreement.F464]

[F465Advising on regulated mortgage contracts

53A.—(1)Advising a person is a specified kind of activity if the advice—

(a)is given to the person in his capacity as a borrower or potential borrower; and

(b)is advice on the merits of his doing any of the following—

(i)entering into a particular regulated mortgage contract, or

(ii)varying the terms of a regulated mortgage contract[F466falling within paragraph (1A)F466] entered into by him F467... in such a way as to vary his obligations under that contract.

[F468(1A)A regulated mortgage contract falls within this paragraph if—

(a)the contract was entered into on or after 31st October 2004; or

(b)the contract—

(i)was entered into before 31st October 2004; and

(ii)was a regulated credit agreement immediately before 21st March 2016.F468]

(2)In this article, “borrower” has the meaning given by article 61(3)(a)(i).F465]

[F469Advising on regulated home reversion plans

53B.Advising a person is a specified kind of activity if the advice—

(a)is given to the person in his capacity as—

(i)a reversion seller or potential reversion seller, or

(ii)a plan provider or potential plan provider; and

(b)is advice on the merits of his doing either of the following—

(i)entering into a particular regulated home reversion plan, or

(ii)varying the terms of a regulated home reversion plan, entered into on or after 6th April 2007 by him, in such a way as to vary his obligations under that plan.F469]

[F469Advising on regulated home purchase plans

53C.Advising a person is a specified kind of activity if the advice—

(a)is given to the person in his capacity as a home purchaser or potential home purchaser; and

(b)is advice on the merits of his doing either of the following—

(i)entering into a particular regulated home purchase plan, or

(ii)varying the terms of a regulated home purchase plan, entered into on or after 6th April 2007 by him, in such a way as to vary his obligations under that plan.F469]

[F470Advising on regulated sale and rent back agreements

53D.Advising a person is a specified kind of activity if the advice—

(a)is given to the person (“A”) in A’s capacity as—

(i)an agreement seller or potential agreement seller, or

(ii)an agreement provider or potential agreement provider; and

(b)is advice on the merits of A doing either of the following—

(i)entering into a particular regulated sale and rent back agreement; or

(ii)varying the terms of a regulated sale and rent back agreement entered into on or after 1st July 2009 by A as agreement seller or agreement provider, in such a way so as to vary A’s obligations under that agreement.F470]

[F471Advising on regulated credit agreements for the acquisition of land

53DA.—(1)Advising a person (“P”) is a specified kind of activity if—

(a)the advice is given to P in P's capacity as a recipient of credit, or potential recipient of credit, under a regulated credit agreement;

(b)P intends to use the credit to acquire or retain property rights in land or in an existing or projected building; and

(c)the advice consists of the provision of personal recommendations to P in respect of one or more transactions relating to regulated credit agreements[F472entered into, or to be entered into, on or after 21st March 2016F472].

[F473(2)In this article—

(a)a reference to any land or building—

(i)in relation to an agreement entered into before IP completion day, is a reference to any land or building in the United Kingdom or within the territory of an EEA State;

(ii)in relation to an agreement entered into on or after IP completion day, is a reference to any land or building in the United Kingdom;

(b)“regulated credit agreement” has the meaning given by article 60B(3).F473,F471]]

[F474Advising on conversion or transfer of pension benefits

53E.—(1)Advising a person (“P”) is a specified kind of activity if—

(a)the advice is given to P in P’s capacity as—

(i)a member of a pension scheme; or

(ii)a survivor of a member of a pension scheme;

(b)P has subsisting rights in respect of any safeguarded benefits; and

(c)the advice is advice on the merits of P requiring the trustee or manager of the pension scheme to—

(i)convert any of the safeguarded benefits into different benefits that are flexible benefits under the scheme;

(ii)make a transfer payment in respect of any of the safeguarded benefits with a view to acquiring a right or entitlement to flexible benefits for P under another pension scheme; or

(iii)pay a lump sum that would be an uncrystallised funds pension lump sum in respect of any of the safeguarded benefits.

(2)In this article—

“flexible benefit” means—

(a)

a money purchase benefit;

(b)

a cash balance benefit; or

(c)

a benefit, other than a money purchase benefit or cash balance benefit, calculated by reference to an amount available for the provision of benefits to or in respect of the member (whether the amount so available is calculated by reference to payments made by the member or any other person in respect of the member or any other factor);

“pension scheme” has the meaning given by section 1(5) of the Pension Schemes Act 1993 or section 1(5) of the Pension Schemes (Northern Ireland) Act 1993;

“safeguarded benefits” means benefits other than—

(a)

money purchase benefits; and

(b)

cash balance benefits;

“subsisting right”—

(a)

in relation to a member of a pension scheme, means—

(i)

any right which has accrued to or in respect of the member to future benefits under the scheme; or

(ii)

any entitlement to benefits under the scheme; and

(b)

in relation to a survivor of a member of a pension scheme means any right to future benefits, or entitlement to benefits, which the survivor has under the scheme in respect of the member;

“survivor”, in relation to a member of a pension scheme, means a person who has survived the member and has a right to future benefits, or is entitled to benefits, under the scheme in respect of the member;

“trustees or managers” means—

(a)

in relation to a scheme established under a trust, the trustees; and

(b)

in relation to any other scheme, the managers; and

“uncrystallised funds pension lump sum” has the meaning given by paragraph 4A of Schedule 29 to the Finance Act 2004.

(3)Paragraphs (4) to (9) apply for the interpretation of “flexible benefit” and “safeguarded benefits”.

(4)“Cash balance benefit”, in relation to a member of a pension scheme or a survivor of a member, means a benefit calculated by reference to an amount available for the provision of benefits to or in respect of the member (“the available amount”) where there is a promise about that amount.

(5)But a benefit is not a “cash balance benefit” if, under the scheme—

(a)a pension may be provided from the available amount to or in respect of the member; and

(b)there is a promise about the rate of that pension.

(6)The promise mentioned in paragraph (4) includes, in particular, a promise about the change in the value of, or the return from, payments made by the member or any other person in respect of the member.

(7)The promise mentioned in paragraph (5)(b) includes a promise that—

(a)the available amount will be sufficient to provide a pension of a particular rate;

(b)the rate of a pension will represent a particular proportion of the available amount.

(8)A benefit is not excluded from the definition of “cash balance benefit” by paragraph (5) merely because under the scheme there is a promise that—

(a)the rate or amount of the benefit payable in respect of a deceased member will be a particular proportion of the rate or amount of the benefit which was (or would have been) payable to the member; or

(b)the amount of a lump sum payable to a member, or in respect of a deceased member, will represent a particular proportion of the available amount.

(9)“Money purchase benefits”—

(a)in relation to a pension scheme governed by the law of England and Wales or Scotland, has the meaning given by section 181 of the Pension Schemes Act 1993; and

(b)in relation to a pensions scheme governed by the law of Northern Ireland, has the meaning given by section 176 of the Pension Schemes (Northern Ireland) Act 1993.F474]

Exclusions

Advice given in newspapers etc.

54.—(1) There is excluded from [F475articles 53, 53A, 53B [F476, 53C [F477, 53D [F478, 53DAF478] and 53EF477,F476,F475]]] the giving of advice in writing or other legible form if the advice is contained in a newspaper, journal, magazine, or other periodical publication, or is given by way of a service comprising regularly updated news or information, if the principal purpose of the publication or service, taken as a whole and including any advertisements or other promotional material contained in it, is neither—

(a)that of giving advice of a kind mentioned in article 53 [F479, 53A, 53B [F480, 53C [F481, 53D [F478, 53DAF478] or 53EF481],F480] as the case may beF479] ; nor

[F482(b)that of leading or enabling persons—

(i)to buy, sell, subscribe for or underwrite securities[F483, structured deposits,F483] or [F484relevant investmentsF484], or (as the case may be),

[F485(ia)to enter into a relevant article 36H agreement (within the meaning of that article) as a lender, to assume the rights of a lender under such an agreement by assignment or operation of law, or to assign rights under such an agreement,F485]

(ii)to enter as borrower into regulated mortgage contracts, or vary the terms of regulated mortgage contracts entered into by them as borrower[F486;

(iii)to enter as reversion seller or plan provider into regulated home reversion plans, or vary the terms of regulated home reversion plans entered into by them as reversion seller or plan provider,

(iv)to enter as home purchaser into regulated home purchase plans, or vary the terms of regulated home purchase plans entered into by them as home purchaserF486][F487;

(v)to enter as agreement seller or agreement provider into regulated sale and rent back agreements, or vary the terms of regulated sale and rent back agreements entered into by them as agreement seller or agreement providerF487];F482]

[F488(va)to enter as a recipient of credit into a regulated credit agreement the purpose of which is to acquire or retain property rights in land [F489in the United KingdomF489] or in an existing or projected building [F489in the United Kingdom,F489,F488]]

[F490(vi)to require the trustee or manager of a pension scheme to take any of the actions referred to in article 53E(1)(c).F490]

(2) There is also excluded from [F491articles 53, 53A, 53B [F492, 53C [F493, 53D [F478, 53DAF478] and 53EF493,F492,F491]]] the giving of advice in any service consisting of the broadcast or transmission of television or radio programmes, if the principal purpose of the service, taken as a whole and including any advertisements or other promotional material contained in it, is neither of those mentioned in paragraph (1)(a) and (b).

[F494(2A)Paragraphs (1) and (2) do not apply to advice which is a personal recommendation falling within article 53(1A).F494]

(3)[F495The FCAF495] may, on the application of the proprietor of any such publication or service as is mentioned in paragraph (1) or (2), certify that it is of the nature described in that paragraph, and may revoke any such certificate if it considers that it is no longer justified.

(4) A certificate given under paragraph (3) and not revoked is conclusive evidence of the matters certified.

[F496Advice given in the course of administration by authorised person

54A.—(1)A person who is not an authorised person (“A”) does not carry on an activity of the kind specified by article 53A by reason of—

(a)anything done by an authorised person (“B”) in relation to a regulated mortgage contract which B is administering pursuant to arrangements of the kind mentioned in article 62(a); or

(b)anything A does in connection with the administration of a regulated mortgage contract in circumstances falling within article 62(b).

[F498(2)A person who is not an authorised person (“A”) does not carry on an activity of the kind specified by article 53B by reason of—

(a)anything done by an authorised person (“B”) in relation to a regulated home reversion plan which B is administering pursuant to arrangements of the kind mentioned in article 63C(a); or

(b)anything A does in connection with the administration of a regulated home reversion plan in circumstances falling within article 63C(b).

(3)A person who is not an authorised person (“A”) does not carry on an activity of the kind specified by article 53C by reason of—

(a)anything done by an authorised person (“B”) in relation to a regulated home purchase plan which B is administering pursuant to arrangements of the kind mentioned in article 63G(a); or

(b)anything A does in connection with the administration of a regulated home purchase plan in circumstances falling within article 63G(b).F498]

[F499(4)A person who is not an authorised person (“A”) does not carry on an activity of the kind specified by article 53D by reason of

(a)anything done by an authorised person (“B”) in relation to a regulated sale and rent back agreement which B is administering pursuant to arrangements of the kind mentioned in article 63K(a); or

(b)anything A does in connection with the administration of a regulated sale and rent back agreement in circumstances falling within article 63K(b).F499]

[F500(5)A person who is not an authorised person (“A”) does not carry on an activity of the kind specified by article 53DA by reason of—

(a)anything done by an authorised person (“B”) in relation to a regulated credit agreement which B is administering pursuant to arrangements of the kind mentioned in article 60I(a) (arranging administration by authorised person); or

(b)anything A does in connection with the administration of a regulated credit agreement in circumstances falling within article 60I(b).F500,F496]]

F501Advice given by reason of providing pensions guidance ...

F50254B.—(1) A person does not carry on an activity of the kind specified in article 53, 53A, 53B, 53C or 53D by reason of providing pensions guidance ....

[F503(2)For the purposes of paragraph (1), pensions guidance means—

(a)information or guidance provided by the Money and Pensions Service in carrying out its pensions guidance function (see section 3 of the Financial Guidance and Claims Act 2018);

(b)information or guidance provided by another person with whom arrangements under section 5(1), (2) or (3) of the Financial Guidance and Claims Act 2018 are made to carry out the Money and Pensions Service’s pensions guidance function.F503]

Other exclusions

55.[F504—(1)F504] Article 53 is also subject to the exclusions in articles 66 (trustees etc.), 67, (profession or non-investment business), 68 (sale of goods and supply of services), 69 (groups and joint enterprises), 70 (sale of body corporate) [F505, 72 (overseas persons)F505]F507[F506... 72B (activities carried on by a provider of relevant goods or services) [F508, 72AA (managers of [F509UK UCITSF509] and AIFs) [F510, 72D (large risks contracts where risk situated [F511outside the United KingdomF511]), 72G (local authorities) and 72H (insolvency practitioners)F510,F508,F506]]] .

[F512(2)[F513Articles 53A, 53B [F514, [F51553C, 53D and 53DAF515,F514]] areF513] also subject to the exclusions in articles 66 (trustees etc.), 67 (profession or non-investment business) F517[F516...[F518, 72AA (managers of [F509UK UCITSF509] and AIFs) [F519, 72G (local authorities) and 72I (registered consumer buy-to-let mortgage firms).F519,F518,F516,F512]]]]

Chapter XIIILloyd’s

The activities

Advice on syndicate participation at Lloyd’s

56. Advising a person to become, or continue or cease to be, a member of a particular Lloyd’s syndicate is a specified kind of activity.

Managing the underwriting capacity of a Lloyd’s syndicate

57. Managing the underwriting capacity of a Lloyd’s syndicate as a managing agent at Lloyd’s is a specified kind of activity.

Arranging deals in contracts of insurance written at Lloyd’s

M2158. The arranging, by the society incorporated by Lloyd’s Act 1871 by the name of Lloyd’s, of deals in contracts of insurance written at Lloyd’s, is a specified kind of activity.

[F520Exclusion

F521...[F522 Managers of UCITS and AIFsF522]

58A.Articles 56 to 58 are subject to the [F523exclusionF523] in F524... [F525 article 72AA (managers of [F526UK UCITSF526] and AIFs).F525,F520]]

Chapter XIVFuneral Plan Contracts

The activity

Funeral plan contractsI1

59.—(1) Entering as provider into a funeral plan contract is a specified kind of activity.

[F527(1A)Carrying out a funeral plan contract as provider is a specified kind of activity.F527]

F528(2) A “funeral plan contract" is a contract ... under which—

(a)a person (“the customer") makes one or more payments to another person (“the provider"); and

(b)the provider undertakes to provide, or secure that another person provides, a funeral in the United Kingdom for the customer (or some other person who is living at the date when the contract is entered into) on his death;

unless, at the time of entering into the contract, the customer and the provider intend or expect the funeral to occur within one month.

[F529(2A)For the purposes of paragraph (1A), “provider” includes a person who has assumed the undertaking referred to in paragraph (2)(b) as a result of the novation, assignment or transfer by operation of law of an existing funeral plan contract.F529]

[F530(3)Where—

(a)a person (“A”) has a funeral plan contract (“the contract”) with a customer under which A has given or assumed the undertaking referred to in paragraph (2)(b);

(b)another person (“B”) intends to give an equivalent or substantially similar undertaking (“the proposed undertaking”) to that customer;

(c)A and B intend that B’s proposed undertaking will replace A’s undertaking;

(d)paragraph (4) or (5) applies; and

(e)A and B have notified the FCA in writing—

(i)that they consider the conditions in sub-paragraphs (a) to (d) to be met; and

(ii)of a date, on or after 29th July 2022, from which A and B agree to regard B’s undertaking as having replaced A’s undertaking for the purpose of the operation of this article;

for the purposes of paragraph (1A), B is to be treated as if B were carrying out the contract as provider from the date specified in the notification to the FCA under sub-paragraph (e)(ii).

(4)This paragraph applies if—

(a)A and B intend that, in order for B’s proposed undertaking to replace A’s undertaking under the contract, B should assume A’s undertaking by novation;

(b)A has taken reasonable steps to secure the customer’s written consent to the proposed novation; and

(c)the customer has neither provided that consent nor objected, in either case within a reasonable period.

(5)This paragraph applies if it appears to A and B that it would not be reasonably practicable for B to assume A’s undertaking referred to in paragraph (2)(b) by novation, assignment or operation of law, or for the conditions in paragraph (4) to be met, before the first day paragraph (1A) applies in relation to activities carried on by A in accordance with articles 1 and 1A of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2021.

(6)If—

(a)paragraph (3) applies; and

(b)the proposed undertaking referred to in paragraph (3)(b) is given to the customer;

then that undertaking is to be treated as if it were a “funeral plan contract” for the purposes of paragraph (2).F530]

[F531ExclusionsF531]

Plans covered by insurance or trust arrangements

F53260. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F533Local authorities

60ZA.Article 59 is subject to the exclusion in article 72G (local authorities).F533]

F534[F535...[F536Managers of UCITS and AIFsF536]

60A.Article 59 is subject to the [F537exclusionF537] in F538... [F539article 72AA (managers of [F540UK UCITSF540] and AIFs).F539,F535]]

[F541Insolvency practitioners

60AA.Article 59(1A) is subject to the exclusion in article 72H (insolvency practitioners).F541]

[F542Chapter 14ARegulated Credit Agreements

The activities

Regulated credit agreements

60B.—(1)Entering into a regulated credit agreement as lender is a specified kind of activity.

(2)It is a specified kind of activity for the lender or another person to exercise, or to have the right to exercise, the lender’s rights and duties under a regulated credit agreement.

(3)In this article—

[F543“credit agreement” means an agreement between an individual or relevant recipient of credit (“A”) and any other person (“B”) under which B provides A with credit of any amount;F543]

[F543“credit agreement”—

(a)

in relation to an agreement other than a green deal plan, means an agreement between an individual or relevant recipient of credit (“A”) and any other person (“B”) under which B provides A with credit of any amount;

(b)

in relation to a green deal plan, has the meaning given by article 60LB;F543]

[F544“exempt agreement” means a credit agreement which is an exempt agreement under articles 60C to 60H, but where only part of a credit agreement falls within a provision of articles 60C to 60H, only that part is an exempt agreement under those articles;F544]

[F545“regulated credit agreement” means—

(a)

in the case of an agreement entered into on or after 1st April 2014, any credit agreement which is not an exempt agreement; or

(b)

in the case of an agreement entered into before 1st April 2014, a credit agreement which—

(i)

was a regulated agreement within the meaning of section 189(1) of the Consumer Credit Act 1974 when the agreement was entered into; or

(ii)

became such a regulated agreement after being varied or supplemented by another agreement before [F5461st April 2014,

and would not be an exempt agreement pursuant to article 60C(2) on 21st March 2016 if the agreement were entered into on that date.F546,F545]]

Exempt agreements: exemptions relating to the nature of the agreementcross-notes

60C.—(1)A credit agreement is an exempt agreement for the purposes of this Chapter in the following cases.

[F547(2)A credit agreement is an exempt agreement if—

(a)by entering into the agreement as lender, a person is or was carrying on an activity of a kind specified by article 61(1) (entering into regulated mortgage contracts); F548...

(b)by entering into the agreement as home purchase provider, a person is or was carrying on an activity of a kind specified by article 63F(1) (entering into regulated home purchase plans)[F549; or

(c)F550... by administering the agreement on 21st March 2016 a person is carrying on an activity of a kind specified by article 61(2) (administering regulated mortgage contracts).F549,F547]]

(3)A credit agreement is an exempt agreement if—

(a)the lender provides the borrower with credit exceeding £25,000, and

(b)the agreement is entered into by the borrower wholly or predominantly for the purposes of a business carried on, or intended to be carried on, by the borrower.

(4)A credit agreement is an exempt agreement if—

(a)the lender provides the borrower with credit of £25,000 or less,

(b)the agreement is entered into by the borrower wholly for the purposes of a business carried on, or intended to be carried on, by the borrower, and

[F551(c)the agreement is a green deal plan (within the meaning of section 1 of the Energy Act 2011).F551]

[F551(c)the agreement is a green deal plan made in relation to a property that is not a domestic property (as defined by article 60LB).F551]

[F552(4A)A credit agreement is an exempt agreement if—

(a)the lender provides the borrower with credit of £25,000 or less,

(b)the agreement is entered into by the borrower wholly for the purposes of a business carried on, or intended to be carried on, by the borrower, and

(c)the agreement is entered into by the lender and the borrower under the Bounce Back Loan Scheme.

(4B)For the purposes of paragraph (4A), “Bounce Back Loan Scheme” means the scheme of that name operated from 4th May 2020 by the British Business Bank plc on behalf of the Secretary of State.

(4C)An agreement exempt under paragraph (4A) may not also be an article 36H agreement by virtue of paragraph (4) of that article.F552]

(5)For the purposes of paragraph (3), if an agreement includes a declaration which—

(a)is made by the borrower,

(b)provides that the agreement is entered into by the borrower wholly or predominantly for the purposes of a business carried on, or intended to be carried on, by the borrower, and

(c)complies with rules made by the FCA for the purpose of this article,

the agreement is to be presumed to have been entered into by the borrower wholly or predominantly for the purposes specified in sub-paragraph (b) unless paragraph (6) applies.

(6)This paragraph applies if, when the agreement is entered into—

(a)the lender (or, if there is more than one lender, any of the lenders), or

(b)any person who has acted on behalf of the lender (or, if there is more than one lender, any of the lenders) in connection with the entering into of the agreement,

knows or has reasonable cause to suspect that the agreement is not entered into by the borrower wholly or predominantly for the purposes of a business carried on, or intended to be carried on, by the borrower.

(7)Paragraphs (5) and (6) also apply for the purposes of paragraph (4) but with the omission of the words “or predominantly”.

(8)A credit agreement is an exempt agreement if it is made in connection with trade in goods or services—

(a)between the United Kingdom and a country outside the United Kingdom,

(b)within a country [F553outside the United KingdomF553], or

(c)between countries outside the United Kingdom, and

the credit is provided to the borrower in the course of a business carried on by the borrower.

Exempt agreements: exemption relating to the purchase of land for non-residential purposes

60D.—(1)A credit agreement is an exempt agreement for the purposes of this Chapter if, at the time it is entered into, any sums due under it are secured by a legal [F554or equitableF554] mortgage on land and the condition in paragraph (2) is satisfied.

(2)The condition is that less than 40% of the land is used, or is intended to be used, as or in connection with a dwelling—

(a)by the borrower or a related person of the borrower, or

(b)in the case of credit provided to trustees, by an individual who is a beneficiary of the trust or a related person of a beneficiary.

(3)For the purposes of paragraph (2)—

(a)the area of any land which comprises a building or other structure containing two or more storeys is to be taken to be the aggregate of the floor areas of each of those stories;

(b)“related person” in relation to a person (“B”) who is the borrower or (in the case of credit provided to trustees) a beneficiary of the trust, means—

(i)B’s spouse or civil partner,

(ii)a person (whether or not of the opposite sex) whose relationship with B has the characteristics of the relationship between husband and wife, or

(iii)B’s parent, brother, sister, child, grandparent or grandchild.

[F555(4)This article does not apply to an agreement if—

(a)the agreement is entered into on or after 21st March 2016,

(b)under the agreement a mortgage creditor grants or promises to grant a credit in the form of a deferred payment, loan or other similar financial accommodation,

(c)the credit is granted or promised to an individual who is acting for purposes outside those of any trade, business or profession carried on by the individual,

(d)the purpose of the agreement is to acquire or retain property rights in land or in an existing or projected building, and

(e)the agreement does not meet the conditions in paragraphs (i) to (iii) of article 61(3)(a) (regulated mortgage contracts).

(5)A reference in paragraph (4)(d) to any land or building—

(a)in relation to an agreement entered into before IP completion day, is a reference to any land or building in the United Kingdom or within the territory of an EEA State;

(b)in relation to an agreement entered into on or after IP completion day, is a reference to any land or building in the United Kingdom.F555]

Exempt agreements: exemptions relating to the nature of the lender

60E.—(1)A credit agreement is an exempt agreement for the purposes of this Chapter in the following cases.

(2)[F556Subject to article 60HA, a relevant credit agreementF556] relating to the purchase of land is an exempt agreement if the lender is—

(a)specified, or of a description specified, in rules made by the FCA under paragraph (3), or

(b)a local authority.

(3)The FCA may make rules specifying any of the following for the purpose of paragraph (2)—

(a)an authorised person with permission to effect or carry out contracts of insurance;

(b)a friendly society;

(c)an organisation of employers or organisation of workers;

(d)a charity;

(e)an improvement company (within the meaning given by section 7 of the Improvement of Land Act 1899);

(f)a body corporate named or specifically referred to in any public general Act;

(g)a body corporate named or specifically referred to in, or in an order made under, a relevant housing provision;

(h)a building society (within the meaning of the Building Societies Act 1986);

(i)an authorised person with permission to accept deposits.

(4)Rules under paragraph (3) may—

(a)specify a particular person or class of persons;

(b)be limited so as to apply only to agreements or classes of agreement specified in the rules.

(5)[F557Subject to article 60HA, a relevant credit agreementF557] is an exempt agreement if it is—

(a)secured by a legal [F558or equitableF558] mortgage on land,

(b)that land is used or is intended to be used as or in connection with a dwelling, and

(c)the lender is a housing authority.

(6)A credit agreement is an exempt agreement if—

(a)the lender is an investment firm or a [F559qualifying credit institutionF559], and

(b)the agreement is entered into for the purpose of allowing the borrower to carry out a transaction relating to one or more financial instruments.

(7)In this article—

“housing authority” means—

(a)

in England and Wales, the Homes and Communities Agency, the Welsh Ministers[F560, a company which is a wholly-owned subsidiary of the Welsh Ministers, [F561a registered social landlord within the meaning of Part 1 of the Housing Act 1996,F561,F560]] or a private registered provider (within the meaning of Part 2 of the Housing and Regeneration Act 2008);

(b)

in Scotland, the Scottish Ministers or a registered social landlord (within the meaning of the Housing (Scotland) Act 2010;

(c)

in Northern Ireland, the Northern Ireland Housing Executive [F562or a housing association within the meaning of Part 2 of the Housing (Northern Ireland) Order 1992F562];

“relevant credit agreement relating to the purchase of land” means—

(a)

a borrower-lender-supplier agreement financing—

(i)

the purchase of land, or

(ii)

provision of dwellings on land,

and secured by a legal [F563or equitableF563] mortgage on that land,

(b)

a borrower-lender agreement secured by a legal [F563or equitableF563] mortgage on land, or

(c)

a borrower-lender-supplier agreement financing a transaction which is a linked transaction in relation to—

(i)

an agreement falling within sub-paragraph (a), or

(ii)

an agreement falling within sub-paragraph (b) financing—

(aa)

the purchase of land,

(bb)

the provision of dwellings on land,

and secured by a legal [F563or equitableF563] mortgage on the land referred to in sub-paragraph (a) or the land referred to in paragraph (ii);

“relevant housing provision” means any of the following—

(a)

section 156(4) or 447(2)(a) of the Housing Act 1985,

(b)

section 156(4) of that Act as it has effect by virtue of section 17 of the Housing Act 1996 (the right to acquire), or

(c)

article 154(1)(a) of the Housing (Northern Ireland) Order 1981.

[F564(7A)In paragraph (7), in the definition of “housing authority”, in paragraph (a), “wholly-owned subsidiary” has the same meaning as in section 1159 (meaning of “subsidiary” etc.) of the Companies Act 2006.

(7B)For the purpose of paragraph (7A), the Welsh Ministers are to be treated as a body corporate.F564]

(8)For the purposes of the definition of “relevant credit agreement relating to the purchase of land”, a transaction is, unless paragraph (9) applies, a “linked transaction” in relation to a credit agreement (“the principal agreement”) if—

(a)it is (or will be) entered into by the borrower under the principal agreement or by a relative of the borrower,

(b)it does not relate to the provision of security,

(c)it does not form part of the principal agreement, and

(d)one of the following conditions is satisfied—

(i)the transaction is entered into in compliance with a term of the principal agreement;

(ii)the principal agreement is a borrower-lender-supplier agreement and the transaction is financed, or to be financed, by the principal agreement;

(iii)the following conditions are met—

(aa)the other party is a person to whom paragraph (10) applies,

(bb)the other party initiated the transaction by suggesting it to the borrower or the relative of the borrower, and

(cc)the borrower or the relative of the borrower enters into the transaction to induce the lender to enter into the principal agreement or for another purpose related to the principal agreement or to a transaction financed or to be financed by the principal agreement.

(9)This paragraph applies if the transaction is—

(a)a contract of insurance,

(b)a contract which contains a guarantee of goods, or

(c)a transaction which comprises, or is effected under—

(i)an agreement for the operation of an account (including any savings account) for the deposit of money, or

(ii)an agreement for the operation of a current account, under which the customer (“C”) may, by means of cheques or similar orders payable to C or to any other person, obtain or have the use of money held or made available by the person with whom the account is kept.

(10)The persons to whom this paragraph applies are—

(a)the lender;

(b)the lender’s associate;

(c)a person who, in the negotiation of the transaction, is represented by a person who carries on an activity of the kind specified by article 36A (credit broking) by way of business who is or was also a negotiator in negotiations for the principal agreement;

(d)a person who, at the time the transaction is initiated, knows that the principal agreement has been made or contemplates that it might be made.

Exempt agreements: exemptions relating to number of repayments to be made

60F.—(1)A credit agreement is an exempt agreement for the purposes of this Chapter in the following cases.

(2)A credit agreement is an exempt agreement if—

(a)the agreement is a borrower-lender-supplier agreement for fixed-sum credit[F565, other than a green deal planF565],

(b)the number of payments to be made by the borrower is not more than [F566twelveF566],

(c)those payments are required to be made within a period of 12 months or less (beginning on the date of the agreement),

(d)the credit is—

(i)secured on land, or

(ii)provided without interest or other F567... charges, and

(e)paragraph (7) does not apply to the agreement.

(3)A credit agreement is an exempt agreement if—

(a)the agreement is a borrower-lender-supplier agreement for running-account credit,

(b)the borrower is to make payments in relation to specified periods which must be, unless the agreement is secured on land, of 3 months or less,

(c)the number of payments to be made by the borrower in repayment of the whole amount of credit provided in each such period is not more than one,

(d)the credit is—

(i)secured on land, or

(ii)provided without interest or other significant charges, and

(e)paragraph (7) does not apply to the agreement.

(4)[F568Subject to article 60HA, a credit agreementF568] is an exempt agreement if—

(a)the agreement is a borrower-lender-supplier agreement financing the purchase of land,

(b)the number of payments to be made by the borrower is not more than four, and

(c)the credit is—

(i)secured on land, or

(ii)provided without interest or other charges.

(5)A credit agreement is an exempt agreement if—

(a)the agreement is a borrower-lender-supplier agreement for fixed-sum credit,

(b)the credit is to finance a premium under a contract of insurance relating to land or anything on land,

(c)the lender is the lender under a credit agreement secured by a legal [F569or equitableF569] mortgage on that land,

(d)the credit is to be repaid within the period (which must be 12 months or less) to which the premium relates,

(e)in the case of an agreement secured on land, there is no charge forming part of the total charge for credit under the agreement other than interest at a rate not exceeding the rate of interest from time to time payable under the agreement mentioned at sub-paragraph (c),

(f)in the case of an agreement which is not secured on land, the credit is provided without interest or other charges, and

(g)the number of payments to be made by the borrower is not more than twelve.

(6)A credit agreement is an exempt agreement if—

(a)the agreement is a borrower-lender-supplier agreement for fixed-sum credit,

(b)the lender is the lender under a credit agreement secured by a legal [F570or equitableF570] mortgage on land,

(c)the agreement is to finance a premium under a contract of whole life insurance which provides, in the event of the death of the person on whose life the contract is effected before the credit referred to in sub-paragraph (b) has been repaid, for payment of a sum not exceeding the amount sufficient to meet the amount which, immediately after that credit has been advanced, would be payable to the lender in respect of that credit (including interest from time to time payable under that agreement),

(d)in the case of an agreement secured on land, there is no charge forming part of the total charge for credit under the agreement other than interest at a rate not exceeding the rate of interest from time to time payable under the agreement mentioned at sub-paragraph (b),

(e)in the case of an agreement which is not secured on land, the credit is provided without interest or other charges, and

(f)the number of payments to be made by the borrower is not more than twelve.

(7)This paragraph applies to—

(a)agreements financing the purchase of land;

(b)agreements which are conditional sale agreements or hire-purchase agreements;

(c)agreements secured by a pledge (other than a pledge of documents of title or of bearer bonds).

[F571(8)In this article, “payment” means any payment which comprises or includes—

(a)the repayment of capital, or

(b)the payment of interest or any other charge which forms part of the total charge for credit.F571]

Exempt agreements: exemptions relating to the total charge for credit

60G.—(1)A credit agreement is an exempt agreement for the purposes of this Chapter in the following cases.

(2)A credit agreement is an exempt agreement if—

(a)it is a borrower-lender agreement, F572...

(b)the lender is a credit union and the rate of the total charge for credit does not exceed 42.6 per cent[F573, and

(c)paragraph (2A) applies to the agreement.F573]

[F574(2A)This paragraph applies to the agreement if—

(a)the agreement is not [F575one to which subsection (2) of section 423A of the Act appliesF575]; F576...

(b)the agreement is [F577one to which that subsection appliesF577] and—

(i)the agreement is [F578one to which subsection (3) of that section appliesF578],

(ii)the agreement is a bridging loanF579..., or

(iii)in relation to the agreement—

(aa)the borrower receives timely information on the main features, risks and costs of the agreement at the pre-contractual stage, and

(bb)any advertising of the agreement is fair, clear and not misleading[F580; or

(c)the agreement was entered into before 21st March 2016.F580,F574]]

(3)[F581Subject to paragraph (8), a credit agreementF581] is an exempt agreement if—

(a)it is a borrower-lender agreement,

(b)it is an agreement of a kind offered to a particular class of individual or relevant recipient of credit and not offered to the public generally,

(c)it provides that the only charge included in the total charge for credit is interest,

(d)interest under the agreement may not at any time be more than the sum of one per cent and the highest of the base rates published by the banks specified in paragraph (7) on the date 28 days before the date on which the interest is charged, and

(e)paragraph (5) does not apply to the agreement.

(4)[F582Subject to paragraph (8), a credit agreementF582] is an exempt agreement if—

(a)it is a borrower-lender agreement,

(b)it is an agreement of a kind offered to a particular class of individual or relevant recipient of credit and not offered to the public generally,

(c)it does not provide for or permit an increase in the rate or amount of any item which is included in the total charge for credit,

(d)the total charge for credit under the agreement is not more than the sum of one per cent and the highest of the base rates published by the banks specified in paragraph (7) on the date 28 days before the date on which the charge is imposed, and

(e)paragraph (5) does not apply to the agreement.

(5)This paragraph applies to an agreement if—

(a)the total amount to be repaid by the borrower to discharge the borrower’s indebtedness may vary according to a formula which is specified in the agreement and which has effect by reference to movements in the level of any index or other factor, or

[F583(b)the agreement—

(i)is not—

(aa)secured on land, or

[F584(bb)offered by a lender to a borrower as an incident of the borrower’s employment with the lender or with an undertaking in the same group as the lender;F584]

(ii)does not meet the general interest test.F583]

(6)For the purposes of [F585paragraphs (5) and (8)F585], an agreement meets the general interest test if—

(a)the agreement is offered under an enactment with a general interest purpose, and

(b)the terms on which the credit is provided are more favourable to the borrower than those prevailing on the market, either because the rate of interest is lower than that prevailing on the market, or because the rate of interest is no higher than that prevailing on the market but the other terms on which credit is provided are more favourable to the borrower.

(7)The banks specified in this paragraph are—

(a)the Bank of England;

(b)Bank of Scotland;

(c)Barclays Bank plc;

(d)Clydesdale Bank plc;

(e)Co-operative Bank Public Limited Company;

(f)Coutts & Co;

(g)National Westminster Bank Public Limited Company;

(h)the Royal Bank of Scotland plc.

[F586(8)A credit agreement[F587to which subsection (2) of section 423A of the Act appliesF587][F588which is entered into on or after 21st March 2016F588] is an exempt agreement pursuant to paragraph (3) or (4) only if—

(a)the agreement meets the general interest test;

(b)the borrower receives timely information on the main features, risks and costs of the agreement at the pre-contractual stage; and

(c)any advertising of the agreement is fair, clear and not misleading.F586]

[F589(9)In this article “bridging loan” means a mortgage agreement that—

(a)is of no fixed duration or is due to be repaid within 12 months, and

(b)is used by a consumer, within the meaning given by section 423A(4) of the Act, as a temporary financing solution while transitioning to another financial arrangement for the immovable property concerned.F589]

Exempt agreements: exemptions relating to the nature of the borrower

60H.—[F590( 1 )F590][[F591,F592AF592]credit agreementF591] is an exempt agreement for the purposes of this Chapter if—

(a)the borrower is an individual,

(b)the agreement is either—

(i)secured on land, or

[F593(ii)for credit which exceeds £60,260 and [F594, if entered into on or after 21st March 2016,F594] is for a purpose other than—

(aa)the renovation of residential propertyF595...

F595(bb). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .F593]

(c)the agreement includes a declaration made by the borrower which provides that the borrower agrees to forgo the protection and remedies that would be available to the borrower if the agreement were a regulated credit agreement and which complies with rules made by the FCA for the purposes of this paragraph,

(d)a statement has been made in relation to the income or assets of the borrower which complies with rules made by the FCA for the purposes of this paragraph,

(e)the connection between the statement and the agreement complies with any rules made by the FCA for the purposes of this paragraph (including as to the period of time between the making of the statement and the agreement being entered into), and

(f)a copy of the statement was provided to the lender before the agreement was entered into.

[F596(1A)Article 4(4B) does not apply to an agreement which is exempt under paragraph (1), the purpose of which is to acquire or retain property rights in land or in an existing or projected building, and—

(a)a declaration has been made by the borrower which either—

(i)provides that the borrower is UK resident, or

(ii)provides that the borrower is treated as present in the United Kingdom,

(b)a copy of that declaration was provided to the lender before the agreement was entered into, and

(c)the agreement is entered into on or after 21st July 2022.

(1B)For the purposes of paragraph (1A), a borrower is “UK resident” if—

(a)the borrower is present in the United Kingdom on at least 183 days during the continuous period of 365 days ending with the date the agreement is entered into, or

(b)the spouse or civil partner of the borrower—

(i)is living with the borrower on the date the agreement was entered into, and

(ii)is present in the United Kingdom on at least 183 days during the continuous period of 365 days ending with the date the agreement is entered into.

(1C)For the purposes of paragraph (1A), a borrower is treated as present in the United Kingdom if, on the date the agreement was entered into, the borrower—

(a)is in Crown employment, and

(b)is present in a country or territory outside the United Kingdom for the purpose of performing activities in the course of that employment, or

(c)is the spouse or civil partner of an individual who—

(i)is in Crown employment,

(ii)is present in a country or territory outside the United Kingdom for the purpose of performing activities in the course of that employment, and

(d)is living with their spouse or civil partner.

(1D)References in this article to a borrower being present in the United Kingdom on a day are to the borrower being present in the United Kingdom at the end of that day.

(1E)Individuals who are married to, or are civil partners of, each other are treated, for the purposes of this article, as living together unless—

(a)they are separated under an order of a court of competent jurisdiction,

(b)they are separated by deed of separation, or

(c)they are in fact separated in circumstances in which the separation is likely to be permanent.

(1F)For the purposes of this article, “Crown employment” means employment under or for the purposes of a government department or any officer or body exercising on behalf of the Crown functions conferred by a statutory provision.F596]

F597(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F598Exempt agreements: [F599provision qualifying articles [F60060E and 60FF600,F599]]

60HA.—(1)A credit agreement[F601entered into on or after 21st March 2016F601] is not an exempt agreement pursuant to article 60E(2) or (5) [F602or 60F(4) if it is a mortgage agreement to which paragraph (2) does not applyF602].

(2)This paragraph applies [F603to an agreementF603] if—

F604(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b)the agreement is a bridging loan within the meaning [F605given by article 60G(9)F605]; or

(c)the agreement is a restricted public loan in respect of which—

(i)the borrower receives timely information on the main features, risks and costs at the pre-contractual stage; and

(ii)any advertising is fair, clear and not misleading.

(3)In paragraph (2)(c) “restricted public loan” means a credit agreement that is—

(a)offered to a particular class of borrower and not offered to the public generally;

(b)offered under an enactment with a general interest purpose; and

(c)provided on terms which are more favourable to the borrower than those prevailing on the market, because it meets one of the following conditions—

(i)it is interest free;

(ii)the rate of interest is lower than that prevailing on the market; or

(iii)the rate of interest is no higher than that prevailing on the market but the other terms on which credit is provided are more favourable to the borrower.F598]

Exclusions

Arranging administration by authorised person

60I.A person (“A”) who is not an authorised person does not carry on an activity of the kind specified by article 60B(2) in relation to a regulated credit agreement where A—

(a)arranges for another person, who is an authorised person with permission to carry on an activity of that kind, to exercise or to have the right to exercise the lender’s rights and duties under the agreement, or

(b)exercises or has the right to exercise the lender’s rights and duties under the agreement during a period of not more than one month beginning with the day on which any such arrangement comes to an end.

Administration pursuant to agreement with authorised person

60J.A person who is not an authorised person does not carry on an activity of the kind specified by article 60B(2) in relation to regulated credit agreement if that person exercises or has the right to exercise the lender’s rights and duties under the agreement pursuant to an agreement with an authorised person who has permission to carry on an activity of the kind specified by article 60B(2).

Payment institutions

F60660JA. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Electronic money institutions

F60760JB. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F608Other exclusionsF608]

60K.Article 60B is also subject to [F609the exclusions in articles F610... 72G (local authorities) and 72I (registered consumer buy-to-let mortgage firms)F609].

Supplemental

Interpretation of Chapter 14A etc.

60L.—(1)In this Chapter—

“assignment”, in relation to Scotland, means assignation;

“associate” means, in relation to a person (“P”)—

(a)

where P is an individual, any person who is or who has been—

(i)

P’s spouse or P’s civil partner;

(ii)

a relative of P, of P’s spouse or of P’s civil partner;

(iii)

the spouse or civil partner of a relative of P or P’s spouse or civil partner;

(iv)

if P is a member of a partnership, any of P’s partners and the spouse or civil partner of any such person;

(b)

where P is a body corporate—

(i)

any person who is a controller (“C”) of P, and

(ii)

any other person for whom C is a controller;

“borrower” means [F611(except in relation to green deal plans: see instead article 60LB)F611] a person who receives credit under a credit agreement or a person to whom the rights and duties of a borrower under a credit agreement have passed by assignment or operation of law;

“borrower-lender agreement” means—

(a)

a credit agreement—

(i)

to finance a transaction between the borrower and a person (“the supplier”) other than the lender, and

(ii)

which is not made by the lender under pre-existing arrangements, or in contemplation of future arrangements, between the lender and the supplier,

(b)

a credit agreement to refinance any existing indebtedness of the borrower, whether to the lender or another person, or

(c)

a credit agreement which is—

(i)

an unrestricted-use credit agreement, and

(ii)

not made by the lender—

(aa)

under pre-existing arrangements between the lender and a person other than the borrower (“the supplier”), and

(bb)

in the knowledge that the credit is to be used to finance a transaction between the borrower and the supplier;

“borrower-lender-supplier agreement” means—

(a)

a credit agreement to finance a transaction between the borrower and the lender, whether forming part of that agreement or not;

(b)

a credit agreement—

(i)

to finance a transaction between the borrower and a person (“the supplier”) other than the lender, and

(ii)

which is made by the lender under pre-existing arrangements, or in contemplation of future arrangements, between the lender and the supplier, or

(c)

a credit agreement which is—

(i)

an unrestricted-use credit agreement, and

(ii)

made by the lender under pre-existing arrangements between the lender and a person (“the supplier”) other than the borrower in the knowledge that the credit is to be used to finance a transaction between the borrower and the supplier;

“conditional sale agreement” means an agreement for the sale of goods or land under which the purchase price or part of it is payable by instalments, and the property in the goods or land is to remain with the seller (notwithstanding that the buyer is to be in possession of the goods or land) until such conditions as to the payment of instalments or otherwise as may be specified in the agreement are fulfilled;

“credit” includes a cash loan and any other form of financial accommodation;

[F612“credit agreement” has the meaning given by article 60B;F612]

[F612“credit agreement”—

(a)

in relation to an agreement other than a green deal plan, has the meaning given by article 60B;

(b)

in relation to a green deal plan, has the meaning given by article 60LB;F612]

“credit union” means a credit union within the meaning of—

(a)

the Credit Unions Act 1979;

(b)

the Credit Unions (Northern Ireland) Order 1985;

“deposit” (except where specified otherwise) means any sum payable by a borrower by way of deposit or down-payment, or credited or to be credited to the borrower on account of any deposit or down-payment, whether the sum is to be or has been paid to the lender or any other person, or is to be or has been discharged by a payment of money or a transfer or delivery of goods or other means;

“exempt agreement” has the meaning given by article 60B;

“finance” includes financing in whole or in part, and “refinance” is to be read accordingly;

“fixed-sum credit” means a facility under a credit agreement whereby the borrower is enabled to receive credit (whether in one amount or by instalments) but which is not running-account credit;

“hire-purchase agreement” means an agreement—

(a)

which is not a conditional sale agreement,

(b)

under which goods are bailed or (in Scotland) hired to a person (“P”) in return for periodical payments by P, and

(c)

the property in the goods will pass to P if the terms of the agreement are complied with and one or more of the following occurs—

(i)

the exercise by P of an option to purchase the goods;

(ii)

the doing by any party to the agreement of any other act specified in the agreement;

(iii)

the happening of any event specified in the agreement;

“legal [F613or equitableF613] mortgage” includes [F614a legal or equitableF614] charge and, in Scotland, a heritable security;

“lender” means [F615(except in relation to green deal plans: see instead article 60LB)F615]—

(a)

the person providing credit under a credit agreement, or

(b)

a person who exercises or has the right to exercise the rights and duties of a person who provided credit under such an agreement;

“payment” (except in article 60F) means a payment comprising or including an amount in respect of credit;

“regulated credit agreement” has the meaning given by article 60B;

“relative” means brother, sister, uncle, aunt, nephew, niece, lineal ancestor or lineal descendent;

“relevant recipient of credit” means—

(a)

a partnership consisting of two or three persons not all of whom are bodies corporate, or

(b)

an unincorporated body of persons which does not consist entirely of bodies corporate and is not a partnership;

“restricted-use credit agreement” means a credit agreement—

(a)

to finance a transaction between the borrower and the lender, whether forming part of that agreement or not,

(b)

to finance a transaction between the borrower and a person (“the supplier”) other than the lender, or

(c)

to refinance any existing indebtedness of the borrower’s, whether to the lender or another person;

“running-account credit” means a facility under a credit agreement under which the borrower or another person is enabled to receive from time to time from the lender or a third party cash, goods or services to an amount or value such that, taking into account payments made by or to the credit of the borrower, the credit limit (if any) is not at any time exceeded;

“security” in relation to a credit agreement, means a mortgage, charge, pledge, bond, debenture, indemnity, guarantee, bill, note or other right provided by the borrower or at the implied or express request of the borrower to secure the carrying out of the obligations of the borrower under the agreement;

“total charge for credit” has the meaning given in rules made by the FCA under article 60M;

“total price” means the total sum payable by the debtor under a hire-purchase agreement, including any sum payable on the exercise of an option to purchase but excluding any sum payable as a penalty or as compensation or damages for a breach of the agreement;

“unrestricted-use credit agreement” means a credit agreement which is not a restricted-use credit agreement.

[F616(1A)For the purposes of this Chapter, a credit agreement that is a green deal plan is to be treated as—

(a)a borrower-lender-supplier agreement falling within paragraph (a) of the definition of “borrower-lender-supplier agreement”;

(b)a restricted-use credit agreement falling within paragraph (a) of the definition of “restricted-use credit agreement”.F616]

(2)For the purposes of the definition of “restricted-use credit agreement”—

(a)a credit agreement does not fall within the definition if the credit is in fact provided in such a way as to leave the borrower free to use it as the borrower chooses, even though certain uses would contravene that or any other agreement; and

(b)an agreement may fall within paragraph (b) of the definition even though the identity of the supplier is unknown at the time the agreement is made.

(3)For the purposes of the definition of “borrower-lender agreement” [F617and the definition of “borrower-lender-supplier agreement”F617], a credit agreement is, subject to paragraph (6), entered into under pre-existing arrangements between a lender and a supplier if it is entered into in accordance with, or in connection with, arrangements previously made between the lender (or the lender’s associate) and the supplier (or the supplier’s associate) unless the arrangements fall within paragraph (5).

(4)For the purposes of the definition of “borrower-lender agreement” [F618and the definition of “borrower-lender-supplier agreement”F618], a credit agreement is entered into in contemplation of future arrangements between a lender and a supplier if it is entered into in the expectation that arrangements will subsequently be made between the lender (or the lender’s associate) and the supplier (or the supplier’s associate) for the supply of cash, goods or services to be financed by the credit agreement unless the arrangements fall within paragraph (5).

(5)Arrangements fall within this paragraph if they are—

(a)for the making, in circumstances specified in the credit agreement, of payments to the supplier by the lender (“L”) and L indicates that L is willing to make, in such circumstances, payments of the kind to suppliers generally, or

(b)for the electronic transfer of funds from a current account held with an authorised person with permission to accept deposits (within the meaning given by article 3).

(6)If a lender is an associate of the supplier’s, the credit agreement is to be treated as entered into under pre-existing arrangements between the lender and the supplier unless the lender can show that this is not the case.

(7)For the purposes of the definition of “running-account credit”, “credit limit” means, as respects any period, the maximum debit balance which, under a credit agreement, is allowed to stand on the account during that period, disregarding any term of the agreement allowing that maximum to be exceeded on a temporary basis.

(8)For the purposes of this Chapter, a person by whom goods are bailed or (in Scotland) hired to an individual or relevant recipient of credit under a hire-purchase agreement is to be taken to be providing that individual or person with fixed-sum credit to finance the transaction of an amount equal to the total price of the goods less the aggregate of the deposit (if any) and the total charge for credit.

(9)For the purposes of this Chapter, where credit is provided otherwise than in sterling, it is to be treated as provided in sterling of an equivalent amount.

[F619(10)For the purposes of this Chapter, where a provision specifies an amount of credit, running-account credit shall be taken not to exceed the amount specified in that provision (“the specified amount”) if—

(a)the credit limit does not exceed the specified amount; or

(b)the credit limit exceeds the specified amount, or there is no credit limit, and—

(i)the borrower is not enabled to draw at any one time an amount which, so far as it represents credit, exceeds the specified amount; or

(ii)the agreement provides that, if the debit balance rises above a given amount (not exceeding the specified amount), the rate of the total charge for credit increases or any other condition favouring the lender or the lender’s associate comes into operation; or

(iii)at the time the agreement is made it is probable, having regard to the terms of the agreement and any other relevant considerations, that the debit balance will not at any time rise above the specified amount.

(11)For the purposes of this Chapter, an item entering into the total charge for credit is not to be treated as credit even though time is allowed for its payment.F619]

[F620Meaning of consumer etc.

60LA.—(1)For the purposes of sections 1G, 404E and 425A of the Act (meaning of “consumer”), in so far as those provisions relate to a person (“A”) carrying on a regulated activity of the kind specified by—

(a)article 60B (regulated credit agreements), or

(b)article 64 (agreeing to carry on specified kinds of activity) in so far as that article relates to article 60B,

a person who is treated by A as a person who is or has been the borrower under a regulated credit agreement is to be treated as a “consumer”.

(2)For the purposes of section 328(8) of the Act (meaning of “clients”) in so far as that provision relates to a person (“A”) carrying on a regulated activity of the kind specified by—

(a)article 60B (regulated credit agreements), or

(b)article 64 (agreeing to carry on specified kinds of activity) in so far as that article relates to article 60B,

a person who is treated by A as a person who is or has been the borrower under a regulated credit agreement is to be treated as a “client”.

(3)In this article, “borrower” includes (in addition to those persons included in the definition in article 60L [F621or, where the credit agreement is a green deal plan, article 60LBF621])—

(a)any person providing a guarantee or indemnity under a regulated credit agreement, and

(b)a person to whom the rights and duties of a person falling within sub-paragraph (a) have passed by assignment or operation of law.F620]

[F622Green deal plans

60LB.—(1)A green deal plan is to be treated as a credit agreement for the purposes of this Order if (and only if)—

(a)the property in relation to the plan is a domestic property at the time when the plan is commenced, or

(b)if sub-paragraph (a) does not apply, the occupier or owner of the property who makes the arrangement for the plan is an individual or relevant recipient of credit.

(2)In the application of this Order to a green deal credit agreement—

(a)the lender is to be treated as being—

(i)the green deal provider (within the meaning of Chapter 1 of Part 1 of the Energy Act 2011) for the plan, or

(ii)a person who exercises or has the right to exercise the rights and duties of the green deal provider under the plan,

(b)credit is to be treated as advanced under the agreement of an amount equal to the amount of the improvement costs, and

(c)the advance of credit is to be treated as made on the completion of the installation of the energy efficiency improvements to the property (but this sub-paragraph is subject to any term of the green deal plan providing that part of the advance is to be treated as made on completion of any part of the installation).

(3)A reference in a provision of this Order listed in the first column of the table in Schedule 4A to the borrower is, in the application of the provision in relation to a green deal credit agreement, to be read as a reference to—

(a)a person who at the relevant time falls (or fell) within the description or descriptions specified in the corresponding entry in the second column of the table, or

(b)if more than one description is specified and at the relevant time different persons fall (or fell) within the descriptions, each of those persons,

and except as provided by this paragraph, a person is not and is not to be treated as the borrower in relation to the agreement.

(4)References in Schedule 4A to the “improver”, “first bill payer”, “current bill payer” and “previous bill payer” are to be read as follows—

(a)a person is the “improver” if the person—

(i)is the owner or occupier of the property, and

(ii)is the person who makes (or has made or proposes to make) the arrangement for the green deal plan;

(b)a person is the “first bill payer” if the person is liable to pay the energy bills for the property at the time when the green deal plan is commenced;

(c)a person is the “current bill payer” if the person is liable by virtue of section 1(6)(a) of the Energy Act 2011 to pay instalments under the plan as a result of being for the time being liable to pay the energy bills for the property;

(d)a person is a “previous bill payer” if, as a result of previously falling within sub-paragraph (c) for an earlier period, the person has an outstanding payment liability under the plan in respect of that period.

(5)In this article—

“domestic property” means a building or part of a building that is occupied as a dwelling or (if not occupied) is intended to be occupied as a dwelling;

“energy bill” has the same meaning as in section 1 of the Energy Act 2011;

“energy efficiency improvements” has the meaning given by section 2(4) of the Energy Act 2011;

“green deal credit agreement” means a green deal plan that is to be treated as a credit agreement for the purposes of this Order by virtue of paragraph (1);

“improvement costs”, in relation to a green deal plan, are the costs of the energy efficiency improvements to the property which are to be paid by instalments under the plan after the time when credit is to be treated as being advanced by virtue of paragraph (2) (but ignoring any interest or other charges for credit in determining those costs);

“occupier” and “owner” have the same meanings as in Chapter 1 of Part 1 of the Energy Act 2011;

“property”, in relation to a green deal plan, means the property to which the energy efficiency improvements under the plan are or are intended to be made.

(6)For the purposes of this article—

(a)a green deal plan is commenced when—

(i)the occupier or owner of the property signs in the prescribed manner a document in relation to the plan in accordance with section 61(1) of the Consumer Credit Act 1974 (requirements as to form and content of regulated agreements), or

(ii)if the occupier or owner of the property does not sign such a document, the green deal plan is made;

(b)a person is liable to pay the energy bills for a property at any time if the person would be treated as the bill payer for the property at that time for the purposes of Chapter 1 of Part 1 of the Energy Act 2011(see section 2(3) and (10)).F622]

Total charge for credit

60M.—(1)The FCA may make rules specifying how the total charge for credit to the borrower under a credit agreement is to be determined for the purposes of this Chapter.

(2)Rules made under paragraph (1) may in particular—

(a)specify how the total charge for credit to a person who is, or is to become, the borrower under a credit agreement is to be determined;

(b)specify what items are to be included in determining the total charge for credit and how the value of those items is to be determined;

(c)specify the method of calculating the rate of the total charge for credit;

(d)provide for the whole or part of the amount payable by the borrower or a relative of the borrower under a linked transaction (within the meaning given by article 60E(8)) to be included in the total charge for credit, whether or not the lender is a party to the transaction or derives a benefit from it.

Chapter 14BRegulated Consumer Hire Agreements

The activities

Regulated consumer hire agreements

60N.—(1)Entering into a regulated consumer hire agreement as owner is a specified kind of activity.

(2)It is a specified kind of activity for the owner or another person to exercise, or to have the right to exercise, the owner’s rights and duties under a regulated consumer hire agreement.

(3)In this Chapter—

“consumer hire agreement” means an agreement between a person (“the owner”) and an individual or relevant recipient of credit (“the hirer”) for the bailment or, in Scotland, the hiring, of goods to the hirer which—

(a)

is not a hire-purchase agreement, and

(b)

is capable of subsisting for more than three months;

“exempt agreement” means a consumer hire agreement which is an exempt agreement under articles 60O to 60Q;

“owner” means—

(a)

the person who bails or, in Scotland, hires, goods under a F623... consumer hire agreement, or

(b)

a person who exercises or has the right to exercise the rights and duties of a person who bailed or, in Scotland, hired, goods under such an agreement;

[F624“regulated consumer hire agreement” means—

(a)

in the case of an agreement entered into on or after 1st April 2014, any consumer hire agreement which is not an exempt agreement; or

(b)

in the case of an agreement entered into before 1st April 2014, a consumer hire agreement which—

(i)

was a regulated agreement within the meaning of section 189(1) of the Consumer Credit Act 1974 when the agreement was entered into; or

(ii)

became such a regulated agreement after being varied or supplemented by another agreement before 1st April 2014.F624]

Exempt agreements: exemptions relating to nature of agreement

60O.—(1)An agreement is an exempt agreement for the purposes of this Chapter if—

(a)the hirer is required by the agreement to make payments exceeding £25,000, and

(b)the agreement is entered into by the hirer wholly or predominantly for the purposes of a business carried on, or intended to be carried on, by the hirer.

(2)For the purposes of paragraph (1), if an agreement includes a declaration which—

(a)is made by the hirer,

(b)provides that the agreement is entered into by the hirer wholly or predominantly for the purposes of a business carried on, or intended to be carried on, by the hirer, and

(c)complies with rules made by the FCA for the purposes of this article,

the agreement is to be presumed to have been entered into by the hirer wholly or predominantly for the purpose in sub-paragraph (b) unless paragraph (3) applies.

(3)This paragraph applies if, when the agreement is entered into—

(a)the owner (or, if there is more than one owner, any of the owners), or

(b)any person who has acted on behalf of the owner (or, if there is more than one owner, any of the owners), in connection with the entering into of the agreement,

knows or has reasonable cause to suspect that the agreement is not entered into by the hirer wholly or predominantly for the purposes of a business carried on, or intended to be carried on, by the hirer.

(4)For the purposes of this article, where credit is provided otherwise than in sterling, it is to be treated as provided in sterling of an equivalent amount.

Exempt agreements: exemptions relating to supply of essential services

60P.An agreement is an exempt agreement for the purposes of this Chapter if—

(a)the owner is a body corporate which is authorised by or under an enactment to supply gas, electricity or water, and

(b)the subject of the agreement is a meter or metering equipment which is used (or is to be used) in connection with the supply of gas, electricity or water.

Exempt agreements: exemptions relating to the nature of the hirer

60Q.An agreement is an exempt agreement for the purposes of this Chapter if—

(a)the hirer is an individual,

(b)the agreement includes a declaration made by the hirer which provides that the hirer agrees to forgo the protection and remedies that would be available to the hirer if the agreement were a regulated consumer hire agreement and which complies with rules made by the FCA for the purposes of this paragraph,

(c)a statement has been made in relation to the income or assets of the hirer which complies with rules made by the FCA for the purposes of this paragraph,

(d)the connection between the statement and the agreement complies with any rules made by the FCA for the purposes of this paragraph (including as to the period of time between the making of the statement and the agreement being entered into), and

(e)a copy of the statement was provided to the owner before the agreement was entered into.

Exclusion

[F625Other exclusionsF625]

60R.Article 60N is subject to F626...[F627 the exclusion in article 72G (local authorities)F627].

[F628Supplemental

Meaning of consumer etc.

60S.—(1)For the purposes of sections 1G, 404E and 425A of the Act (meaning of “consumer”), in so far as those provisions relate to a person (“A”) carrying on a regulated activity of the kind specified by—

(a)article 60N (regulated consumer hire agreements), or

(b)article 64 (agreeing to carry on specified kinds of activity) in so far as that article relates to article 60N,

a person who is treated by A as a person who is or has been the hirer under a regulated consumer hire agreement is to be treated as a “consumer”.

(2)For the purposes of section 328(8) of the Act (meaning of “clients”) in so far as that provision relates to a person (“A”) carrying on a regulated activity of the kind specified by—

(a)article 60N (regulated consumer hire agreements), or

(b)article 64 (agreeing to carry on specified kinds of activity) in so far as that article relates to article 60N,

a person who is treated by A as a person who is or has been the hirer under a regulated consumer hire agreement is to be treated as a “client”.

(3)In this article, “hirer” includes (in addition to those persons defined as “the hirer” in the definition of “consumer hire agreement” in article 60N(3))—

(a)any person providing a guarantee or indemnity under a consumer hire agreement, and

(b)a person to whom the rights and duties of a person falling within sub-paragraph (a) have passed by assignment or operation of law.F628,F542]]

Chapter XVRegulated Mortgage Contracts

The activities

Regulated mortgage contractsI2

61.—(1) Entering into a regulated mortgage contract as lender is a specified kind of activity.

(2)Administering a regulated mortgage contract is also a specified kind of activity, [F629where—

(a)the contract was entered into by way of business on or after 31st October 2004; or

(b)the contract—

(i)was entered into by way of business before 31st October 2004, and

(ii)was a regulated credit agreement immediately before 21st March 2016.F629]

(3) In this Chapter—

[F630(a)[F631subject to paragraph (5),F631] a contract is a “regulated mortgage contract” if, at the time it is entered into, the following conditions are met—

[F632(i)the contract is one under which a person (“the lender”) provides credit to an individual or to trustees (“the borrower”);

(ii)the contract provides for the obligation of the borrower to repay to be secured by a mortgage on landF633...;

(iii)at least 40% of that land is used, or is intended to be used—

(aa)in the case of credit provided to an individual, as or in connection with a dwelling; or

(bb)in the case of credit provided to a trustee which is not an individual, as or in connection with a dwelling by an individual who is a beneficiary of the trust, or by a related person;F632]

[F634but such a contract is not a regulated mortgage contract if it [F635falls within article 61A(1) or (2)F635];F634,F630]]

(b)“administering" a regulated mortgage contract means either or both of—

(i)notifying the borrower of changes in interest rates or payments due under the contract, or of other matters of which the contract requires him to be notified; and

(ii)taking any necessary steps for the purposes of collecting or recovering payments due under the contract from the borrower;

but a person is not to be treated as administering a regulated mortgage contract merely because he has, or exercises, a right to take action for the purposes of enforcing the contract (or to require that such action is or is not taken);

(c)“credit" includes a cash loan, and any other form of financial accommodation.

(4) For the purposes of [F636paragraph 3(a)F636] —

[F637(a)“mortgage” includes a charge and (in Scotland) a heritable security;F637]

[F638(aa)“land”—

(i)in relation to a contract entered into before IP completion day, means land in the United Kingdom or within the territory of an EEA State;

(ii)in relation to a contract entered into on or after IP completion day, means land in the United Kingdom.F638]

(b)the area of any land which comprises a building or other structure containing two or more storeys is to be taken to be the aggregate of the floor areas of each of those storeys;

(c)“related person", in relation to the borrower or (in the case of credit provided to trustees) a beneficiary of the trust, means—

(i)that person’s spouse [F639or civil partnerF639] ;

(ii)a person (whether or not of the opposite sex) whose relationship with that person has the characteristics of the relationship between husband and wife; or

(iii)F640that person’s parent, brother, sister, child, grandparent or grandchild; ...

F641(d). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F642(5)In this Chapter, a contract entered into before 21st March 2016 is a “regulated mortgage contract” only if—

(a)at the time it was entered into, entering into the contract was an activity of the kind specified by paragraph (1), or

(b)the contract is a consumer credit back book mortgage contract within the meaning of article 2 of the Mortgage Credit Directive Order 2015.F642]

[F643Mortgage contracts which are not regulated mortgage contracts

61A.—(1)A contract falls within this paragraph if it is—

(a)a regulated home purchase plan;

(b)a limited payment second charge bridging loan;

(c)a second charge business loan;

(d)an investment property loan; F644...

(e)an exempt consumer buy-to-let mortgage contract[F645; F646...

(f)an exempt equitable mortgage bridging loanF645][F647; or

(g)an exempt housing authority loan.F647]

(2)A contract falls within this paragraph if—

(a)it is a limited interest second charge credit union loan;

(b)the borrower receives timely information on the main features, risks and costs of the contract at the pre-contractual stage; and

(c)any advertising of the contract is fair, clear and not misleading.

(3)For the purposes of this article, if an agreement includes a declaration which—

(a)is made by the borrower, and

(b)includes—

(i)a statement that the agreement is entered into by the borrower wholly or predominantly for the purposes of a business carried on, or intended to be carried on, by the borrower,

(ii)a statement that the borrower understands that the borrower will not have the benefit of the protection and remedies that would be available to the borrower under the Act if the agreement were a regulated mortgage contract under the Act, and

(iii)a statement that the borrower is aware that if the borrower is in any doubt as to the consequences of the agreement not being regulated by the Act, then the borrower should seek independent legal advice,

the agreement is to be presumed to have been entered into by the borrower wholly or predominantly for the purposes specified in sub-paragraph (b)(i) unless paragraph (4) applies.

(4)This paragraph applies if, when the agreement is entered into—

(a)the lender (or, if there is more than one lender, any of the lenders), or

(b)any person who has acted on behalf of the lender (or, if there is more than one lender, any of the lenders) in connection with the entering into of the agreement,

knows or has reasonable cause to suspect that the agreement is not entered into by the borrower wholly or predominantly for the purposes of a business carried on, or intended to be carried on, by the borrower.

(5)For the purposes of this article a borrower is to be regarded as entering into an agreement for the purposes of a business carried on, or intended to be carried on, by the borrower if the agreement is a buy-to-let mortgage contract and—

(a)(i)the borrower previously purchased, or is entering into the contract in order to finance the purchase by the borrower of, the land subject to the mortgage;

(ii)at the time of the purchase the borrower intended that the land would be occupied as a dwelling on the basis of a rental agreement and would not at any time be occupied as a dwelling by the borrower or by a related person, or where the borrower has not yet purchased the land the borrower has such an intention at the time of entering into the contract; and

(iii)where the borrower has purchased the land, since the time of the purchase the land has not at any time been occupied as a dwelling by the borrower or by a related person; or

(b)the borrower is the owner of land, other than the land subject to the mortgage, which is—

(i)occupied as a dwelling on the basis of a rental agreement and is not occupied as a dwelling by the borrower or by a related person; or

(ii)secured by a mortgage under a buy-to-let mortgage contract.

(6)For the purposes of this article—

Exclusions

Arranging administration by authorised personI3

62. A person who is not an authorised person does not carry on an activity of the kind specified by article 61(2) in relation to a regulated mortgage contract where he—

(a)arranges for another person, being an authorised person with permission to carry on an activity of that kind, to administer the contract; or

(b)administers the contract himself during a period of not more than one month beginning with the day on which any such arrangement comes to an end.

Administration pursuant to agreement with authorised personI4

63. A person who is not an authorised person does not carry on an activity of the kind specified by article 61(2) in relation to a regulated mortgage contract where he administers the contract pursuant to an agreement with an authorised person who has permission to carry on an activity of that kind.

[F654Other exclusions

63A.Article 61 is also subject to the exclusions in articles 66 (trustees etc.), 72 (overseas persons) [F655,F656... [F657 72AA (managers of [F658UK UCITSF658] and AIFs) [F659, 72G (local authorities) and 72I (registered consumer buy-to-let mortgage firms).F659,F657,F655,F654]]]]

[F660Chapter XVARegulated Home Reversion Plans

The activities

Entering into and administering regulated home reversion plans

63B.—(1)Entering into a regulated home reversion plan as plan provider is a specified kind of activity.

(2)Administering a regulated home reversion plan is also a specified kind of activity where the plan was entered into on or after 6th April 2007.

(3)In this Chapter—

(a)a “regulated home reversion plan” is an arrangement comprised in one or more instruments or agreements, in relation to which the following conditions are met at the time it is entered into—

(i)the arrangement is one under which a person (the “plan provider”) buys all or part of a qualifying interest in land (other than timeshare accommodation) in the United Kingdom from an individual or trustees (the “reversion seller”);

(ii)the reversion seller (if he is an individual) or an individual who is a beneficiary of the trust (if the reversion seller is a trustee), or a related person, is entitled under the arrangement to occupy at least 40% of the land in question as or in connection with a dwelling, and intends to do so; and

(iii)the arrangement specifies one or more qualifying termination events, on the occurrence of which that entitlement will end;

(b)“administering” a regulated home reversion plan means any of—

(i)notifying the reversion seller of changes in payments due under the plan, or of other matters of which the plan requires him to be notified;

(ii)taking any necessary steps for the purposes of making payments to the reversion seller under the plan; and

(iii)taking any necessary steps for the purposes of collecting or recovering payments due under the plan from the reversion seller,

but a person is not to be treated as administering a regulated home reversion plan merely because he has, or exercises, a right to take action for the purposes of enforcing the plan (or to require that such action is or is not taken).

(4)For the purposes of paragraph (3)—

(a)the reference to a “qualifying interest” in land—

(i)in relation to land in England or Wales, is to an estate in fee simple absolute or a term of years absolute, whether subsisting at law or in equity;

(ii)in relation to land in Scotland, is to the interest of an owner in land or the tenant’s right over or interest in a property subject to a lease;

(iii)in relation to land in Northern Ireland, is to any freehold estate or any leasehold estate, whether subsisting at law or in equity;

(b)“timeshare accommodation” has the meaning given by section 1 of the Timeshare Act 1992;

(c)“related person” in relation to the reversion seller or, where the reversion seller is a trustee, a beneficiary of the trust, means—

(i)that person’s spouse or civil partner;

(ii)a person (whether or not of the opposite sex) whose relationship with that person has the characteristics of the relationship between husband and wife; or

(iii)that person’s parent, brother, sister, child, grandparent or grandchild; and

(d)“qualifying termination event”, in relation to a person’s entitlement to occupy land, means—

(i)the person becomes a resident of a care home;

(ii)the person dies;

(iii)the end of a specified period of at least twenty years beginning with the day on which the reversion seller entered into the arrangement.

(5)For the purposes of paragraph (3)(a)(ii), the area of any land which comprises a building or other structure containing two or more storeys is to be taken to be the aggregate of the floor areas of each of those storeys.

(6)For the purposes of the definition of “qualifying termination event” in paragraph (4), “care home”—

(a)in relation to England F661..., has the meaning given by section 3 of the Care Standards Act 2000;

[F662(aa)in relation to Wales, means a place at which a care home service, within the meaning of Part 1 of the Regulation and Inspection of Social Care (Wales) Act 2016, is provided wholly or mainly to persons aged 18 or over;F662]

(b)in relation to Scotland, means accommodation provided by a [F663“care home service” within the meaning of paragraph 2 of schedule 12 to the Public Services Reform (Scotland) Act 2010F663];

(c)in relation to Northern Ireland, means—

(i)a residential care home within the meaning of article 10 of the Health and Personal Social Services (Quality, Improvement and Regulation) (Northern Ireland) Order 2003; or

(ii)a nursing home within the meaning of article 11 of that Order.

(7)In this Order—

(a)references to entering into a regulated home reversion plan as plan provider include acquiring any obligations or rights (including his interest in land) of the plan provider, under such a plan; but

(b)in relation to a person who acquires any such obligations or rights, an activity is a specified kind of activity for the purposes of articles 25B(1)(b) and 53B(b)(ii) and paragraph (2) only if the plan was entered into by the plan provider (rather than the obligations or rights acquired) on or after 6th April 2007.

(8)Accordingly, references in this Order to a plan provider, other than in paragraph (7), include a person who acquires any such obligations or rights.

Exclusions

Arranging administration by authorised person

63C.A person who is not an authorised person does not carry on an activity of the kind specified by article 63B(2) in relation to a regulated home reversion plan where he—

(a)arranges for another person, being an authorised person with permission to carry on an activity of that kind, to administer the plan; or

(b)administers the plan himself during a period of not more than one month beginning with the day on which any such arrangement comes to an end.

Administration pursuant to agreement with authorised person

63D.A person who is not an authorised person does not carry on an activity of the kind specified by article 63B(2) in relation to a regulated home reversion plan where he administers the plan pursuant to an agreement with an authorised person who has permission to carry on an activity of that kind.

Other exclusions

63E.Article 63B is also subject to the exclusions in articles 66 (trustees etc.), 72 (overseas persons) [F664, F665...[F66672AA (managers of [F667UK UCITSF667] and AIFs) and 72G (local authorities).F666,F664,F660]]]

[F660Chapter XVBRegulated Home Purchase Plans

The activities

Entering into and administering regulated home purchase plans

63F.—(1)Entering into a regulated home purchase plan as home purchase provider is a specified kind of activity.

(2)Administering a regulated home purchase plan is also a specified kind of activity where the plan was entered into by way of business on or after 6th April 2007.

(3)In this Chapter—

(a)a “regulated home purchase plan” is an arrangement comprised in one or more instruments or agreements, in relation to which the following conditions are met at the time it is entered into—

(i)the arrangement is one under which a person (the “home purchase provider”) buys a qualifying interest or an undivided share of a qualifying interest in land (other than timeshare accommodation) in the United Kingdom;

(ii)where an undivided share of a qualifying interest in land is bought, the interest is held on trust for the home purchase provider and the individual or trustees mentioned in paragraph (iii) as beneficial tenants in common;

(iii)the arrangement provides for the obligation of an individual or trustees (the “home purchaser”) to buy the interest bought by the home purchase provider over the course of or at the end of a specified period; and

(iv)the home purchaser (if he is an individual) or an individual who is a beneficiary of the trust (if the home purchaser is a trustee), or a related person, is entitled under the arrangement to occupy at least 40% of the land in question as or in connection with a dwelling during that period, and intends to do so;

(b)“administering” a regulated home purchase plan means either or both of—

(i)notifying the home purchaser of changes in payments due under the plan, or of other matters of which the plan requires him to be notified; and

(ii)taking any necessary steps for the purposes of collecting or recovering payments due under the plan from the home purchaser;

but a person is not to be treated as administering a regulated home purchase plan merely because he has, or exercises, a right to take action for the purposes of enforcing the plan or to require that such action is or is not taken.

(4)Article 63B(4)(a) to (c) applies for the purposes of paragraph (3)(a) with references to the “reversion seller” being read as references to the “home purchaser”.

(5)Article 63B(5) applies for the purposes of paragraph (3)(a)(iv) with the reference to “paragraph (3)(a)(ii)” being read as a reference to “paragraph (3)(a)(iv)”.

Exclusions

Arranging administration by authorised person

63G.A person who is not an authorised person does not carry on an activity of the kind specified by article 63F(2) in relation to a regulated home purchase plan where he—

(a)arranges for another person, being an authorised person with permission to carry on an activity of that kind, to administer the plan; or

(b)administers the plan himself during a period of not more than one month beginning with the day on which any such arrangement comes to an end.

Administration pursuant to agreement with authorised person

63H.A person who is not an authorised person does not carry on an activity of the kind specified by article 63F(2) in relation to a regulated home purchase plan where he administers the plan pursuant to an agreement with an authorised person who has permission to carry on an activity of that kind.

Other exclusions

63I.Article 63F is also subject to the exclusions in articles 66 (trustees etc.), 72 (overseas persons) [F668, F669...[F67072AA (managers of [F671UK UCITSF671] and AIFs) and 72G (local authorities).F670,F668,F660]]]

[F672Chapter XVCRegulated Sale and Rent Back Agreements

The activities

Entering into and administering regulated sale and rent back agreements

63J.—(1)Entering into a regulated sale and rent back agreement as an agreement provider is a specified kind of activity.

(2)Administering a regulated sale and rent back agreement is also a specified kind of activity when the agreement was entered into on or after 1st July 2009.

(3)In this Chapter—

(a)a “regulated sale and rent back agreement” is an arrangement comprised in one or more instruments or agreements, in relation to which the following conditions are met at the time it is entered into—

(i)the arrangement is one under which a person (the “agreement provider”) buys all or part of the qualifying interest in land (other than timeshare accommodation) in the United Kingdom from an individual or trustees (the “agreement seller ”); and

(ii)the agreement seller (if the agreement seller is an individual) or an individual who is the beneficiary of the trust (if the agreement seller is a trustee), or a related person, is entitled under the arrangement to occupy at least 40% of the land in question as or in connection with a dwelling, and intends to do so;

but such an arrangement is not a regulated sale and rent back agreement if it is a regulated home reversion plan;

(b)“administering” a regulated sale and rent back agreement means any of—

(i)notifying the agreement seller of changes in payments due under the agreement, or of other matters of which the agreement requires the agreement seller to be notified;

(ii)taking any necessary steps for the purpose of making payments to the agreement seller under the agreement; and

(iii)taking any necessary steps for the purposes of collecting or recovering payments due under the agreement from the agreement seller,

but a person is not to be treated as administering a regulated sale and rent back agreement because that person has, or exercises, a right to take action for the purposes of enforcing the agreement (or to require that such action is or is not taken).

(4)For the purposes of paragraph (3)—

(a)the reference to a “qualifying interest” in land—

(i)in relation to land in England and Wales, is to an estate in fee simple absolute or a term of years absolute, whether subsisting at law or in equity;

(ii)in relation to land in Scotland, is to the interest of an owner in land or the tenant’s right over or interest in a property subject to a lease;

(iii)in relation to land in Northern Ireland, is to any freehold estate or any leasehold estate, whether subsisting at law or in equity;

[F673(b)“timeshare accommodation” means overnight accommodation which is the subject of a timeshare contract within the meaning of the Timeshare, Holiday Products, Resale and Exchange Contracts Regulations 2010; andF673]

(c)“related person” in relation to the agreement seller or, where the agreement seller is a trustee, a beneficiary of the trust, means—

(i)that person’s spouse or civil partner;

(ii)a person (whether or not of the opposite sex) whose relationship with that person has the characteristic of the relationship between husband and wife;

(iii)that person’s parent, brother, sister, child, grandparent or grandchild.

(5)For the purposes of paragraph (3)(a)(ii), the area of any land which compromises a building or other structure containing two or more storeys is to be taken to be the aggregate of the floor areas of each of those storeys.

(6)In this Order—

(a)references to entering into a regulated sale and rent back agreement as agreement provider include acquiring any obligations or rights of the agreement provider, including the agreement provider’s interest in land or interests under one or more of the instruments or agreements referred to in paragraph (3)(a); but

(b)in relation to a person who acquires any such obligations or rights, an activity is a specified kind of activity for the purposes of articles 25E(1)(b) and 53D(b)(ii) and paragraph (2) only if the agreement was entered into by the agreement provider (rather than the obligations or rights acquired) on or after 1st July 2009.

(7)Accordingly, references in this Order to an agreement provider, other than in paragraph (6), include a person who acquires any such obligations or rights.

Exclusions

Arranging administration by authorised person

63K.A person who is not an authorised person does not carry on an activity of the kind specified by article 63J(2) in relation to a regulated sale and rent back agreement where that person—

(a)arranges for another person, being an authorised person with permission to carry on an activity of that kind, to administer the agreement; or

(b)administers the agreement during a period of not more than one month beginning with the day on which any such arrangement comes to an end.

Administration pursuant to agreement with authorised person

63L.A person who is not an authorised person does not carry on an activity of the kind specified by article 63J(2) in relation to a regulated sale and rent back agreement where that person administers the agreement pursuant to an agreement with an authorised person who has permission to carry on activity of that kind.

Other exclusions

63M.Article 63J is also subject to the exclusions in article 66 (trustees etc.), 72 (overseas persons) [F674, F675...[F67672AA (managers of [F677UK UCITSF677] and AIFs) and 72G (local authorities).F676,F674,F672]]]

[F678Chapter 15DActivities of Reclaim Funds

The activitiesF678]

Dormant account funds

63N—(1) The following are specified kinds of activity—

(a)the meeting of repayment claims by a reclaim fund;

(b)the management of dormant [F679assetsF679] funds (including the investment of such funds) by a reclaim fund[F680;

(c)dealing with unwanted asset money.F680]

(2) In this article—

F681...

[F682“dealing with unwanted asset money” means—

(a)

the acceptance of transfers of amounts as mentioned in section 21(2)(b) of the Dormant Assets Act 2022, and

(b)

dealing with those funds (so far as they are not needed for either of the purposes mentioned in section 5(1)(c)(ii) or (iii) of the Dormant Bank and Building Society Accounts Act 2008) with a view to their transfer to the body or bodies for the time being specified in section 16 of the Dormant Bank and Building Society Accounts Act 2008;F682]

[F683“dormant assets funds”, “reclaim fund”F683] and “repayment claims” have the same meaning as in section 5 of that Act;

[F684“management of dormant assets funds” means—

(a)

the acceptance of transfers of amounts as mentioned in section 1(1)(a) or 2(1)(a) of the Dormant Bank and Building Society Accounts Act 2008 or 2(1)(a), 5(1)(a), 8(1)(a), 12(1)(a) or 14(1)(a) of the Dormant Assets Act 2022,F684]

(b)

F685the management of those funds in such a way as to enable the reclaim fund to meet whatever repayment claims it is prudent to anticipate [F686, and

(c)

dealing with those funds with a view to the transfer of amounts to the body or bodies for the time being specified in section 16 of the Dormant Bank and Building Society Accounts Act 2008.F686]

[F687Chapter 15ESpecified Benchmarks

The activities

Specified benchmarks

F68863O.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Publicly available factual data and subscription services

F68963P.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Administration of a specified benchmark by the FCA

F69063Q.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Schedule

F69163R.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .F687]

[F692Administering a benchmark

63S.—(1)Administering a benchmark is a specified kind of activity.

(2)In paragraph (1) “administering a benchmark” means acting as an administrator of a benchmark within the meaning of Article 3 of Regulation EU 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending Directives 2008/48/EC and 2014/17/EU and Regulation (EU) No 596/2014 .

Administration of a benchmark by the FCA

63T.The FCA does not carry on the activity of the kind specified by article 63S(1) in relation to a benchmark where the FCA administers the benchmark itself.F692]

Chapter XVIAgreeing to Carry on Activities

The activity

Agreeing to carry on specified kinds of activity

64. Agreeing to carry on an activity of the kind specified by any other provision of this Part [F693, Part 3A or Part 3BF693] (other than article 5, [F6949B,F694] 10, [F69525D,F695][F69625DA,F696][[F697,F69851ZA, 51ZB, 51ZC, 51ZD, 51ZEF698], 52 [F699,F699] 63NF697][F700and 63SF700] ) is a specified kind of activity.

[F701Exclusions

Overseas persons etc

65.Article 64 is subject to the exclusions in articles 72 (overseas persons) [F702, F703... 72G (local authorities) and 72H (insolvency practitioners).F702,F701]]

Chapter XVIIExclusions Applying to Several Specified Kinds of Activity

Trustees, nominees and personal representatives

66.—(1) A person (“X") does not carry on an activity of the kind specified by article 14 where he enters into a transaction as bare trustee or, in Scotland, as nominee for another person (“Y") and—

(a)X is acting on Y’s instructions; and

(b)X does not hold himself out as providing a service of buying and sellingsecurities or contractually based investments.

(2) Subject to paragraph (7), there are excluded from [F704articles 25(1) and (2)F704][F705, [F70625A(1), (2) and (2A)F706], 25B(1) and (2) [F707, 25C(1) and (2) and 25E (1) and (2)F707,F705]] arrangements made by a person acting as trustee or personal representative for or with a view to a transaction which is or is to be entered into—

(a)by that person and a fellow trustee or personal representative (acting in their capacity as such); or

(b)by a beneficiary under the trust, will or intestacy.

(3) Subject to paragraph (7), there is excluded from article 37 any activity carried on by a person acting as trustee or personal representative, unless—

(a)he holds himself out as providing a service comprising an activity of the kind specified by article 37; or

(b)M22the assets in question are held for the purposes of an occupational pension scheme, and, by virtue of article 4 of the Financial Services and Markets Act 2000 (Carrying on Regulated Activities by Way of Business) Order 2001 , he is to be treated as carrying on that activity by way of business.

[F708(3A)Subject to paragraph (7), there is excluded from article 39A any activity carried on by a person acting as trustee or personal representative, unless he holds himself out as providing a service comprising an activity of the kind specified by article 39A.F708]

(4) Subject to paragraph (7), there is excluded from article 40 any activity carried on by a person acting as trustee or personal representative, unless he holds himself out as providing a service comprising an activity of the kind specified by article 40.

[F709(4A)There is excluded from article 40 any activity carried on by a person acting as trustee which consists of arranging for one or more other persons to safeguard and administer trust assets where—

(a)that other person is a qualifying custodian; or

(b)that safeguarding and administration is also arranged by a qualifying custodian.

In this paragraph, “qualifying custodian” has the meaning given by article 41(2).F709]

(5) A person does not, by sending or causing to be sent a dematerialised instruction (within the meaning of article 45), carry on an activity of the kind specified by that article if the instruction relates to an investment which that person holds as trustee or personal representative.

(6) Subject to paragraph (7), there is excluded from [F710articles 53F710][F711, 53A, 53B, [F71253C, 53D and 53DAF712,F711]] the giving of advice by a person acting as trustee or personal representative where he gives the advice to—

(a)a fellow trustee or personal representative for the purposes of the trust or the estate; or

(b)a beneficiary under the trust, will or intestacy concerning his interest in the trust fund or estate.

[F713(6A)Subject to paragraph (7), a person acting as trustee or personal representative does not carry on an activity of the kind specified by article 61(1) or (2) where the borrower under the regulated mortgage contract in question is a beneficiary under the trust, will or intestacy.F713]

[F714(6B)Subject to paragraph (7), a person acting as trustee or personal representative does not carry on an activity of the kind specified by article 63B(1) or (2) where the reversion seller under the regulated home reversion plan in question is a beneficiary under the trust, will or intestacy.

(6C)Subject to paragraph (7), a person acting as trustee or personal representative does not carry on an activity of the kind specified by article 63F(1) or (2) where the home purchaser under the regulated home purchase plan in question is a beneficiary under the trust, will or intestacy.F714]

[F715(6D)Subject to paragraph (7), a person acting as a trustee or personal representative does not carry on an activity of the kind specified by article 63J(1) or (2) where the agreement seller under the regulated sale and rent back agreement is a beneficiary under the trust, will or intestacy.F715]

(7) Paragraphs (2), (3) [F716, (3A)F716] , [F717(4), (6)F717][F718, (6A), (6B) [F719, (6C) and (6D)F719,F718]] do not apply if the person carrying on the activity is remunerated for what he does in addition to any remuneration he receives as trustee or personal representative, and for these purposes a person is not to be regarded as receiving additional remuneration merely because his remuneration is calculated by reference to time spent.

[F720(8)This article is subject to article 4(4A) [F721and (4B)F721].F720]

Activities carried on in the course of a profession or non-investment business

67.—(1) There is excluded from articles 21, 25(1) and (2) [F722, 25AF722] , [F72325B, 25C,F723][F72425E,F724][F72539A, 40F725][F72653F726][F727, 53A, 53B, [F72853C, 53D and 53DAF728,F727]] any activity which—

(a)is carried on in the course of carrying on any profession or business which does not otherwise consist of [F729the carrying on of regulated activities in the United KingdomF729] ; and

(b)may reasonably be regarded as a necessary part of other services provided in the course of that profession or business.

(2) But the exclusion in paragraph (1) does not apply if the activity in question is remunerated separately from the other services.

[F730(3)This article is subject to article [F7314(4), (4A) and (4B)F731].F730]

Activities carried on in connection with the sale of goods or supply of services

68.—(1) Subject to paragraphs (9), (10) and (11), this article concerns certain activities carried on for the purposes of or in connection with the sale of goods or supply of services by a supplier to a customer, where—

and in this article “related sale or supply" means a sale of goods or supply of services to the customer otherwise than by the supplier, but for or in connection with the same purpose as the sale or supply mentioned above.

(2) There is excluded from article 14 any transaction entered into by a supplier with a customer, if the transaction is entered into for the purposes of or in connection with the sale of goods or supply of services, or a related sale or supply.

(3) There is excluded from article 21 any transaction entered into [F734by a supplier as agent for a customerF734] , if the transaction is entered into for the purposes of or in connection with the sale of goods or supply of services, or a related sale or supply, and provided that—

(a)where the investment to which the transaction relates is a security, the supplier does not hold himself out (other than to the customer) as engaging in the business of buyingsecurities of the kind to which the transaction relates with a view to selling them, and does not regularly solicit members of the public for the purpose of inducing them (as principals or agents) to buy, sell, subscribe for or underwrite securities;

(b)where the investment to which the transaction relates is a contractually based investment, the supplier enters into the transaction—

(i)with or through an authorised person, or an exempt person acting in the course of a business comprising a regulated activity in relation to which he is exempt; or

(ii)through an office outside the United Kingdom maintained by a party to the transaction, and with or through a person whose head office is situated outside the United Kingdom and whose ordinary business involves him in carrying on activities of the kind specified by any of articles 14, 21, 25, 37, 40, 45, [F73551ZA, 51ZB, 51ZC, 51ZD, 51ZEF735] , 52 and 53 or, so far as relevant to any of those articles, article 64, or would do so apart from any exclusion from any of those articles made by this Order.

(4) In paragraph (3)(a), “members of the public" has the meaning given by article 15(2), references to “A" being read as references to the supplier.

(5) There are excluded from article 25(1) and (2) arrangements made by a supplier for, or with a view to, a transaction which is or is to be entered into by a customer for the purposes of or in connection with the sale of goods or supply of services, or a related sale or supply.

(6) There is excluded from article 37 any activity carried on by a supplier where the assets in question—

(a)are those of a customer; and

(b)are managed for the purposes of or in connection with the sale of goods or supply of services, or a related sale or supply.

(7) There is excluded from article 40 any activity carried on by a supplier where the assets in question are or are to be safeguarded and administered for the purposes of or in connection with the sale of goods or supply of services, or a related sale or supply.

(8) There is excluded from article 53 the giving of advice by a supplier to a customer for the purposes of or in connection with the sale of goods or supply of services, or a related sale or supply, or to a person with whom the customer proposes to enter into a transaction for the purposes of or in connection with such a sale or supply or related sale or supply.

(9) Paragraphs (2), (3) and (5) do not apply in the case of a transaction for the sale or purchase of a [F736contract of insuranceF736] , an investment of the kind specified by article 81, or an investment of the kind specified by article 89 so far as relevant to such a contract or such an investment.

(10) Paragraph (6) does not apply where the assets managed consist of qualifying contracts of insurance, investments of the kind specified by article 81, or investments of the kind specified by article 89 so far as relevant to such contracts or such investments.

(11) Paragraph (8) does not apply in the case of advice in relation to an investment which is a [F737contract of insuranceF737] , is of the kind specified by article 81, or is of the kind specified by article 89 so far as relevant to such a contract or such an investment.

[F738(12)This article is subject to article 4(4).F738]

Groups and joint enterprises

69.—(1) There is excluded from article 14 any transaction into which a person enters as principal with another person if that other person is also acting as principal and—

(a)they are members of the same group; or

(b)they are, or propose to become, participators in a joint enterprise and the transaction is entered into for the purposes of or in connection with that enterprise.

(2) There is excluded from article 21 any transaction into which a person enters as agent for another person if that other person is acting as principal, and the condition in paragraph (1)(a) or (b) is met, provided that—

(a)where the investment to which the transaction relates is a security, the agent does not hold himself out (other than to members of the same group or persons who are or propose to become participators with him in a joint enterprise) as engaging in the business of buyingsecurities of the kind to which the transaction relates with a view to selling them, and does not regularly solicit members of the public for the purpose of inducing them (as principals or agents) to buy, sell, subscribe for or underwrite securities;

(b)where the investment to which the transaction relates is a contractually based investment, the agent enters into the transaction—

(i)with or through an authorised person, or an exempt person acting in the course of a business comprising a regulated activity in relation to which he is exempt; or

(ii)through an office outside the United Kingdom maintained by a party to the transaction, and with or through a person whose head office is situated outside the United Kingdom and whose ordinary business involves him in carrying on activities of the kind specified by any of articles 14, 21, 25, 37, 40, 45, [F73951ZA, 51ZB, 51ZC, 51ZD, 51ZEF739] , 52 and 53 or, so far as relevant to any of those articles, article 64, or would do so apart from any exclusion from any of those articles made by this Order.

(3) In paragraph (2)(a), “members of the public" has the meaning given by article 15(2), references to “A" being read as references to the agent.

(4) There are excluded from article 25(1) and (2) arrangements made by a person if—

(a)he is a member of a group and the arrangements in question are for, or with a view to, a transaction which is or is to be entered into, as principal, by another member of the same group; or

(b)he is or proposes to become a participator in a joint enterprise, and the arrangements in question are for, or with a view to, a transaction which is or is to be entered into, as principal, by another person who is or proposes to become a participator in that enterprise, for the purposes of or in connection with that enterprise.

(5) There is excluded from article 37 any activity carried on by a person if—

(a)he is a member of a group and the assets in question belong to another member of the same group; or

(b)he is or proposes to become a participator in a joint enterprise with the person to whom the assets belong, and the assets are managed for the purposes of or in connection with that enterprise.

(6) There is excluded from article 40 any activity carried on by a person if—

(a)he is a member of a group and the assets in question belong to another member of the same group; or

(b)he is or proposes to become a participator in a joint enterprise, and the assets in question—

(i)belong to another person who is or proposes to become a participator in that joint enterprise; and

(ii)are or are to be safeguarded and administered for the purposes of or in connection with that enterprise.

(7) A person who is a member of a group does not carry on an activity of the kind specified by article 45 where he sends a dematerialised instruction, or causes one to be sent, on behalf of another member of the same group, if the investment to which the instruction relates is one in respect of which a member of the same group is registered as holder in the appropriate register of securities, or will be so registered as a result of the instruction.

(8) In paragraph (7), “dematerialised instruction" and “register of securities" have the meaning given by regulation 3 of the Uncertificated Securities Regulations [F7402001F740] .

(9) There is excluded from article 53 the giving of advice by a person if—

(a)he is a member of a group and gives the advice in question to another member of the same group; or

(b)he is, or proposes to become, a participator in a joint enterprise and the advice in question is given to another person who is, or proposes to become, a participator in that enterprise for the purposes of or in connection with that enterprise.

[F741(10)Paragraph (2) does not apply to a transaction for the sale or purchase of a contract of insurance.

(11)Paragraph (4) does not apply to arrangements for, or with a view to, a transaction for the sale or purchase of a contract of insurance.

(12)Paragraph (9) does not apply where the advice relates to a transaction for the sale or purchase of a contract of insurance.F741]

[F742(13)This article is subject to article 4(4).F742]

Activities carried on in connection with the sale of a body corporate

70.—(1) A person does not carry on an activity of the kind specified by article 14 by entering as principal into a transaction if—

(a)the transaction is one to acquire or dispose of shares in a body corporate other than an open-ended investment company, or is entered into for the purposes of such an acquisition or disposal; and

(b)either—

(i)the conditions set out in paragraph (2) are met; or

(ii)those conditions are not met, but the object of the transaction may nevertheless reasonably be regarded as being the acquisition of day to day control of the affairs of the body corporate.

(2) The conditions mentioned in paragraph (1)(b) are that—

(a)the shares consist of or include 50 per cent or more of the voting shares in the body corporate; or

(b)the shares, together with any already held by the person acquiring them, consist of or include at least that percentage of such shares; and

(c)in either case, the acquisition or disposal is between parties each of whom is a body corporate, a partnership, a single individual or a group of connected individuals.

(3) In paragraph (2)(c), “a group of connected individuals" means—

(a)in relation to a party disposing of shares in a body corporate, a single group of persons each of whom is—

(i)a director or manager of the body corporate;

(ii)a close relative of any such director or manager;

(iii)a person acting as trustee for any person falling within paragraph (i) or (ii); and

(b)in relation to a party acquiring shares in a body corporate, a single group of persons each of whom is—

(i)a person who is or is to be a director or manager of the body corporate;

(ii)a close relative of any such person; or

(iii)a person acting as trustee for any person falling within paragraph (i) or (ii).

(4) A person does not carry on an activity of the kind specified by article 21 by entering as agent into a transaction of the kind described in paragraph (1).

(5) There are excluded from article 25(1) and (2) arrangements made for, or with a view to, a transaction of the kind described in paragraph (1).

(6) There is excluded from article 53 the giving of advice in connection with a transaction (or proposed transaction) of the kind described in paragraph (1).

[F743(7)Paragraphs (4), (5) and (6) do not apply in the case of a transaction for the sale or purchase of a contract of insurance.F743]

[F744(8)This article is subject to article 4(4).F744]

Activities carried on in connection with employee share schemes

71.—(1) A person (“C"), a member of the same group as C or a relevant trustee does not carry on an activity of the kind specified by article 14 by entering as principal into a transaction the purpose of which is to enable or facilitate—

(a)transactions in shares in, or debentures issued by, C between, or for the benefit of, any of the persons mentioned in paragraph (2); or

(b)the holding of such shares or debentures by, or for the benefit of, such persons.

(2) The persons referred to in paragraph (1) are—

(a)the bona fide employees or former employees of C or of another member of the same group as C;

(b)the wives, husbands, widows, widowers, [F745civil partners, surviving civil partners,F745] or children or step-children under the age of eighteen of such employees or former employees.

(3) C, a member of the same group as C or a relevant trustee does not carry on an activity of the kind specified by article 21 by entering as agent into a transaction of the kind described in paragraph (1).

(4) There are excluded from article 25(1) or (2) arrangements made by C, a member of the same group as C or a relevant trustee if the arrangements in question are for, or with a view to, a transaction of the kind described in paragraph (1).

(5) There is excluded from article 40 any activity if the assets in question are, or are to be, safeguarded and administered by C, a member of the same group as C or a relevant trustee for the purpose of enabling or facilitating transactions of the kind described in paragraph (1).

(6) In this article—

(a)“shares" and “debentures" include—

(i)any investment of the kind specified by article 76 [F746, 77 or 77AF746] ;

(ii)any investment of the kind specified by article 79 or 80 so far as relevant to articles 76 [F747, 77 and 77AF747] ; and

(iii)any investment of the kind specified by article 89 so far as relevant to investments of the kind mentioned in paragraph (i) or (ii);

(b)“relevant trustee" means a person who, in pursuance of the arrangements made for the purpose mentioned in paragraph (1), holds, as trustee, shares in or debentures issued by C.

Overseas personscross-notes

72.—(1) An overseas person does not carry on an activity of the kind specified by article 14 [F748, 25D or 25DAF748] by—

(a)entering into a transaction as principal with or though an authorised person, or an exempt person acting in the course of a business comprising a regulated activity in relation to which he is exempt; or

(b)entering into a transaction as principal with a person in the United Kingdom, if the transaction is the result of a legitimate approach.

(2) An overseas person does not carry on an activity of the kind specified by article 21 [F749, 25D or 25DAF749] by—

(a)entering into a transaction as agent for any person with or through an authorised person or an exempt person acting in the course of a business comprising a regulated activity in relation to which he is exempt; or

(b)entering into a transaction with another party (“X") as agent for any person (“Y"), other than with or through an authorised person or such an exempt person, unless—

(i)either X or Y is in the United Kingdom; and

(ii)the transaction is the result of an approach (other than a legitimate approach) made by or on behalf of, or to, whichever of X or Y is in the United Kingdom.

(3) There are excluded from article 25(1) [F750, 25D or 25DAF750] arrangements made by an overseas person with an authorised person, or an exempt person acting in the course of a business comprising a regulated activity in relation to which he is exempt.

(4) There are excluded from article 25(2) [F751, 25D or 25DAF751] arrangements made by an overseas person with a view to transactions which are, as respects transactions in the United Kingdom, confined to—

(a)transactions entered into by authorised persons as principal or agent; and

(b)transactions entered into by exempt persons, as principal or agent, in the course of business comprising regulated activities in relation to which they are exempt.

(5) There is excluded from article 53 the giving of advice by an overseas person as a result of a legitimate approach.

[F752(5A)An overseas person does not carry on an activity of the kind specified by article 25A(1)(a), [F75325A(2A),F753] 25B(1)(a)[F754, 25C(1)(a) or 25E(1)(a)F754] if each person who may be contemplating entering into the relevant type of agreement in the relevant capacity is non-resident.

(5B)There are excluded from articles 25A(1)(b), 25B(1)(b) [F755, 25C(1)(b) and 25E(1)(b)F755] arrangements made by an overseas person to vary the terms of a qualifying agreement.

(5C)There are excluded from articles 25A(2), 25B(2)[F756, 25C(2) and 25E(2)F756], arrangements made by an overseas person which are made solely with a view to non-resident persons who participate in those arrangements entering, in the relevant capacity, into the relevant type of agreement.

(5D)An overseas person does not carry on an activity of the kind specified in article 61(1), 63B(1)[F757, 63F(1) or 63J(1)F757] by entering into a qualifying agreement.

(5E)An overseas person does not carry on an activity of the kind specified in article 61(2), 63B(2)[F758, 63F(2) or 63J(2)F758] where he administers a qualifying agreement.

(5F)In paragraphs (5A) to (5E)—

(a)“non-resident” means not normally resident in the United Kingdom;

(b)“qualifying agreement” means—

(i)in relation to articles 25A and 61, a regulated mortgage contract where the borrower (or each borrower) is non-resident when he enters into it;

(ii)in relation to articles 25B and 63B, a regulated home reversion plan where the reversion seller (or each reversion seller) is non-resident when he enters into it;

(iii)in relation to articles 25C and 63F, a regulated home purchase plan where the home purchaser (or each home purchaser) is non-resident when he enters into it;

[F759(iv)in relation to articles 25E and 63J, a regulated sale and rent back agreement where the agreement seller (or each agreement seller) is non-resident when the agreement seller enters into it;F759]

(c)“the relevant capacity” means—

(i)in the case of a regulated mortgage contract, as borrower;

(ii)in the case of a regulated home reversion plan, as reversion seller or plan provider;

(iii)in the case of a regulated home purchase plan, as home purchaser;

[F760(iv)in the case of a regulated sale and rent back agreement, as agreement seller or agreement provider;F760]

(d)“the relevant type of agreement” means—

(i)in relation to article 25A, a regulated mortgage contract;

(ii)in relation to article 25B, a regulated home reversion plan;

(iii)in relation to article 25C, a regulated home purchase plan[F761;

(iv)in relation to article 25E, a regulated sale and rent back agreementF761].F752]

(6) There is excluded from article 64 any agreement made by an overseas person to carry on an activity of the kind specified by article 25(1) or (2), 37 [F762, 39AF762] , 40 or 45 if the agreement is the result of a legitimate approach.

(7) In this article, “legitimate approach" means—

(a)an approach made to the overseas person which has not been solicited by him in any way, or has been solicited by him in a way which does not contravene section 21 of the Act; or

(b)an approach made by or on behalf of the overseas person in a way which does not contravene that section.

[F763(8)Paragraphs (1) to (5) do not apply where the overseas person is an investment firm or [F764qualifying credit institutionF764]—

(a)who is providing or performing investment services and activities on a professional basis; and

(b)whose home F765... State is the United Kingdom.F763]

[F766(9)Paragraphs (1) to (5) do not apply where the overseas person is providing clearing services as a central counterparty (within the meaning of section 313(1) of the Act).F766]

[F767(9A)Paragraphs (1) to (5) do not apply—

(a)where the overseas person is a central securities depository which provides the services referred to in Article F768... 25(2) of the CSD regulation in the United Kingdom (including through a branch in the United Kingdom); F769...

F769(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .F767]

[F770(10)Paragraphs (5A) and (5C) do not apply where the overseas person is a mortgage intermediary whose home F771... State is the United Kingdom.F770]

[F772(10A)This article does not apply in the following two cases.F772]

[F773(11)[F774The first case isF774] where the overseas person is—

(a)a third-country firm, as defined by Article 4.1.57 (“definitions”) of the markets in financial instruments directive (“third country firm”);

(b)established in a country subject to an equivalence decision; and

(c)carrying on an activity a third country firm established in that third country may carry on by virtue of the equivalence decision under—

(i)Article 46.1 of the markets in financial instruments regulation (general provisions) if it is registered by ESMA in the register of third country firms established in accordance with Article 48 of that Regulation (register);

(ii)Article 47.3 of the markets in financial instruments regulation (equivalence decision) if it has a branch in an EEA State other than the United Kingdom and is authorised in that State in accordance with Article 39 of the markets in financial instruments directive (establishment of a branch); or

(iii)Article 46.5 of the markets in financial instruments regulation.

[F775(11A)The second case is where the overseas person is—

(a)a third-country firm, as defined by Article 2.1.42 of the markets in financial instruments regulation;

(b)established in a county that is the subject of an equivalence determination; and

(c)carrying on an activity a third country firm established in that third country may carry on, by virtue of the equivalence determination, under—

(i)Article 46.1 of the markets in financial instruments regulation, if it is registered by the FCA in the register of third country firms established in accordance with Article 48 of that regulation, or

(ii)Article 46.5 of that regulation.F775]

(12)For the purposes of [F776paragraphs (11) and (11A)F776]—

(a)“equivalence decision” means a decision adopted by the Commission[F777before IP completion dayF777] in relation to a country under Article 47.1 of the markets in financial instruments regulation which has not been withdrawn by a subsequent decision adopted by the Commission[F777before IP completion dayF777] under that Article; F778...

(b)a country is subject to an equivalence decision if a period of more than three years has elapsed since the adoption of the decision by the Commission, beginning on the day after the date of the adoption of the decision.F773]

[F779(c) “equivalence determination” means a determination made by the Treasury—

(i)in regulations under Article 47.1 of the markets in financial instruments regulation and not revoked; or

(ii)by direction under regulation 2 of the Equivalence Determinations for Financial Services and Miscellaneous Provisions (Amendment etc) (EU Exit) Regulations 2019 and not revoked;

(d) a country is the subject of an equivalence determination if a period of more than three years has elapsed since—

(i)the date on which the equivalence determination came into force, or

(ii)where two or more equivalence determinations have been made in succession in relation to the country concerned, the date on which the first equivalence determination came into force;

(e)for the purposes of sub-paragraph (d), an equivalence determination is not made in succession to an earlier determination if the earlier determination ceased to have effect before the later determination came into force.F779]

Information society services

F78072A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F781Managers of [F782UK UCITSF782] and AIFscross-notes

72AA.—(1)This article applies to a person with a Part 4A permission to carry on the activity of the kind specified by article 51ZA or 51ZC.

(2)Activities carried on by the person in connection with or for the purposes of managing [F783a UK UCITSF783] or, as the case may be, managing an AIF, are excluded from the activities specified by this Part, other than the activities mentioned in paragraph (1).F781]

[F784Activities carried on by a provider of relevant goods or services

72B.—(1)In this article—

“connected contract of insurance” means a contract of insurance which—

(a)

is not a contract of long-term insurance;

(b)

F785. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(c)

[F786has a premium of—

(i)

[F787£500F787] or less (calculated on a pro rata annual basis), or

(ii)

where the insurance is complementary to a service being provided by the provider and the duration of that service is equal to or less than three months, [F788£175F788] or less,

or equivalent amounts of F789... another currency;F786]

(d)

covers the risk of—

(i)

breakdown, loss of, or damage to, non-motor goods supplied by the provider; F790...

(ia)

[F791the non-use of services supplied by the provider; orF791]

(ii)

[F792damage to, or loss of, baggage and other risks linked to the travel booked with the provider (“travel risks”) in circumstances where—

(aa)

the travel booked with the provider relates to attendance at an event organised or managed by that provider and the party seeking insurance is not an individual (acting in his private capacity) or a small business; or

(bb)

the travel booked with the provider is only the hire of an aircraft, vehicle or vessel which does not provide sleeping accommodation;F792]

(e)

does not cover any liability risks (except, in the case of a contract which covers travel risks, where that cover is ancillary to the main cover provided by the contract); [F793andF793]

(f)

is complementary to the non-motor goods being supplied or service being provided by the provider; F794...

(g)

F794. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

“non-motor goods” means goods which are not mechanically propelled road vehicles;

“provider” means a person who supplies [F795non-motor goods or servicesF795] or provides services related to travel in the course of carrying on a profession or business which does not otherwise consist of the carrying on of regulated activities. [F796For these purposes, the transfer of possession of an aircraft, vehicle or vessel under an agreement for hire which is not—

(a)

a hire-purchase agreementF797... , or

(b)

any other agreement which contemplates that the property in those goods will also pass at some time in the future,

is the provision of a service related to travel, not a supply of goods;

“small business” means—

(a)

subject to paragraph (b) a sole trader, body corporate, partnership or an unincorporated association which had a turnover in the last financial year of less than £1,000,000;

(b)

where the business concerned is a member of a group within the meaning of [F798section 474(1) of the Companies Act 2006F798], reference to its turnover means the combined turnover of the group;

“turnover” means the amounts derived from the provision of goods and services falling within the business’s ordinary activities, after deduction of trade discounts, value added tax and any other taxes based on the amounts so derived.F796]

(2)There is excluded from article 21 any transaction for the sale or purchase of a connected contract of insurance into which a provider enters as agent.

(3)There are excluded from article 25(1) and (2) any arrangements made by a provider for, or with a view to, a transaction for the sale or purchase of a connected contract of insurance.

(4)There is excluded from article 39A any activity carried on by a provider where the contract of insurance in question is a connected contract of insurance.

(5)There is excluded from article 53 the giving of advice by a provider in relation to a transaction for the sale or purchase of a connected contract of insurance.

(6)For the purposes of this article, a contract of insurance which covers travel risks is not to be treated as a contract of long-term insurance, notwithstanding the fact that it contains related and subsidiary provisions such that it might be regarded as a contract of long-term insurance, if the cover to which those provisions relate is ancillary to the main cover provided by the contract.

Provision of information on an incidental basis

72C.—(1)There is excluded from articles 25(1) and (2) the making of arrangements for, or with a view to, a transaction for the sale or purchase of a contract of insurance or an investment of the kind specified by article 89, so far as relevant to such a contract, where that activity meets the conditions specified in paragraph (4).

(2)There is excluded from articles 37 and 40 any activity—

(a)where the assets in question are rights under a contract of insurance or an investment of the kind specified by article 89, so far as relevant to such a contract; and

(b)which meets the conditions specified in paragraph (4).

(3)There is excluded from article 39A any activity which meets the conditions specified in paragraph (4).

(4)The conditions specified in this paragraph are that the activity—

(a)consists of the provision of information to the policyholder or potential policyholder;

(b)is carried on by a person in the course of carrying on a profession or business which does not otherwise consist of the carrying on of regulated activities; and

(c)may reasonably be regarded as being incidental to that profession or business.

Large risks contracts where risk situated outside [F799the United KingdomF799]

72D.—(1)There is excluded from articles 21, 25(1) and (2), 39A and 53 any activity which is carried on in relation to a large risks contract of insurance, to the extent that the risk or commitment covered by the contract is not situated in [F800the United KingdomF800].

(2)In this article, a “large risks contract of insurance” is a contract of insurance the principal object of which is to cover—

(a)risks falling within paragraph 4 (railway rolling stock), 5 (aircraft), 6 (ships), 7 (goods in transit), 11 (aircraft liability) or 12 (liability of ships) of Part 1 of Schedule 1;

(b)risks falling within paragraph 14 (credit) or 15 (suretyship) of that Part provided that the risks relate to a business carried on by the policyholder; or

(c)risks falling within paragraph 3 (land vehicles), 8 (fire and natural forces), 9 (damage to property), 10 (motor vehicle liability), 13 (general liability) or 16 (miscellaneous financial loss) of that Part provided that the risks relate to a business carried on by the policyholder and that the condition specified in paragraph (3) is met in relation to that business.

(3)The condition specified in this paragraph is that at least two of the three following criteria were met in the most recent financial year for which information is available—

(a)the balance sheet total of the business [F801(within the meaning of section 382(5) or 465(5) of the Companies Act 2006)F801] exceeded 6.2 million euro,

(b)the net turnover[F802(within the meaning given to “turnover” by section 474(1) of the Companies Act 2006)F802] exceeded 12.8 million euro,

(c)the number of employees [F803(within the meaning given by sections 382(6) and 465(6) of the Companies Act 2006)F803] exceeded 250,

and for a financial year which is a company’s financial year but not in fact a year, the net turnover of the policyholder shall be proportionately adjusted.

(4)For the purposes of paragraph (3), where the policyholder is a member of a group for which consolidated accounts F804... are drawn up, the question whether the condition specified by that paragraph is met is to be determined by reference to those accounts.F784]

[F805Business Angel-led Enterprise Capital Funds

72E.—(1)A body corporate of a type specified in paragraph (7) does not carry on the activity of the kind specified by article 21 by entering as agent into a transaction on behalf of the participants of a Business Angel-led Enterprise Capital Fund.

(2)There are excluded from article 25(1) and (2) arrangements, made by a body corporate of a type specified in paragraph (7), for or with a view to a transaction which is or is to be entered into by or on behalf of the participants in a Business Angel-led Enterprise Capital Fund.

(3)There is excluded from article 37 any activity, carried on by a body corporate of a type specified in paragraph (7), which consists in the managing of assets belonging to the participants in a Business Angel-led Enterprise Capital Fund.

(4)There is excluded from article 40 any activity, carried on by a body corporate of a type specified in paragraph (7), in respect of assets belonging to the participants in a Business Angel-led Enterprise Capital Fund.

(5)A body corporate of a type specified in paragraph (7) does not carry on the activity of the kind specified in article [F80651ZA, 51ZC or 51ZEF806] where it carries on the activity of establishing, operating or winding up a Business Angel-led Enterprise Capital Fund.

(6)A body corporate of a type specified in paragraph (7) does not carry on the activity of the kind specified in article 53 where it is advising the participants in a Business Angel-led Enterprise Capital Fund on investments to be made by or on behalf of the participants of that Business Angel-led Enterprise Capital Fund.

(7)The type of body corporate specified is a limited company—

(i)which operates a Business Angel-led Enterprise Capital Fund; and

(ii)the members of which are participants in the Business Angel-led Enterprise Capital Fund operated by that limited company and between them have invested at least 50 per cent of the total investment in that Business Angel-led Enterprise Capital Fund excluding any investment made by the Secretary of State.

(8)For the purposes of paragraph (7), “a limited company” means a body corporate with limited liability which is a company or firm formed [F807under the law of any part of the United KingdomF807] and having its registered office, central administration or principal place of business [F808in the United KingdomF808].

(9)Nothing in this article has the effect of excluding a body corporate from the application of [F809the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017F809], in so far as those Regulations would have applied to it but for this article.

(10)Nothing in this article has the effect of excluding a body corporate from the application of section 397 of the Act (misleading statements and practices), in so far as that section would have applied to it but for this article.

[F810(11)This article is subject to article 4(4).F810,F805]]

[F805Interpretation

72F.—(1)For the purposes of this article and of article 72E—

“Business Angel-led Enterprise Capital Fund” means a collective investment scheme which—

(a)

is established for the purpose of enabling participants to participate in or receive profits or income arising from the acquisition, holding, management or disposal of investments falling within one or more of—

(i)

article 76, being shares in an unlisted company;

(ii)

article 77, being instruments creating or acknowledging indebtedness in respect of an unlisted company;

(iia)

[F811article 77A, being rights under an alternative finance investment bond issued by an unlisted company;F811] and

(iii)

article 79, being warrants or other instruments entitling the holder to subscribe for shares in an unlisted company;

(b)

has only the following as its participants—

(i)

the Secretary of State;

(ii)

a body corporate of a type specified in article 72E(7); and

(iii)

one or more persons each of whom at the time they became a participant was—

(aa)

a sophisticated investor;

(bb)

a high net worth individual;

(cc)

a high net worth company;

(dd)

a high net worth unincorporated association;

(ee)

a trustee of a high value trust; or

(ff)

a self-certified sophisticated investor;

(c)

is prevented, by the arrangements by which it is established, from—

(i)

acquiring investments, other than those falling within paragraphs (i) to (iii) of sub-paragraph (a); and

(ii)

acquiring investments falling within paragraphs (i) to (iii) of sub-paragraph (a) in an unlisted company, where the aggregated cost of those investments exceeds £2 million, unless that acquisition is necessary to prevent or reduce the dilution of an existing share-holding in that unlisted company;

“high net worth company” means a body corporate which—

(a)

falls within article 49(2)(a) of the Financial Services and Markets Act 2000[F812(Financial Promotion) Order 2005F812] (high net worth companies, unincorporated associations etc.); and

(b)

has executed a document[F813(in a manner which binds the company)F813] in the following terms:

  • “This company is a high net worth company and falls within article 49(2)(a) of the Financial Services and Markets Act 2000[F812(Financial Promotion) Order 2005F812]. We understand that any Business Angel-led Enterprise Capital Fund (within the meaning of article 72F of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001), in which this company participates, or any person who operates that Business Angel-led Enterprise Capital Fund, in which this company participates, will not be authorised under the Financial Services and Markets Act 2000 (and so will not have to satisfy the threshold conditions set out in Part I of Schedule 6 to that Act and will not be subject to [F814Financial Conduct AuthorityF814] rules such as those on holding client money). We understand that this means that redress through the [F814Financial Conduct AuthorityF814], the Financial Ombudsman Scheme or the Financial Services Compensation Scheme will not be available. We also understand the risks associated in investing in a Business Angel-led Enterprise Capital Fund and are aware that it is open to us to seek advice from someone who is authorised under the Financial Services and Markets Act 2000 and who specialises in advising on this kind of investment.”

“high net worth individual” means an individual who—

(a)

is a “F815...high net worth individual” within the meaning of article 48(2) of the Financial Services and Markets Act 2000[F812(Financial Promotion) Order 2005F812] (F815...high net worth individuals); and

(b)

has signed a statement in the following terms:

  • “I declare that I am a F815... high net worth individual within the meaning of article 48(2) of the Financial Services and Markets Act 2000[F812(Financial Promotion) Order 2005F812] and that I understand that any Business Angel-led Enterprise Capital Fund (within the meaning of article 72F of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001), in which I participate, or any person who operates that Business Angel-led Enterprise Capital Fund, in which I participate, will not be authorised under the Financial Services and Markets Act 2000 (and so will not have to satisfy the threshold conditions set out in Part I of Schedule 6 to that Act and will not be subject to [F814Financial Conduct AuthorityF814] rules such as those on holding client money). I understand that this means that redress through the [F814Financial Conduct AuthorityF814], the Financial Ombudsman Scheme or the Financial Services Compensation Scheme will not be available. I also understand the risks associated in investing in a Business Angel-led Enterprise Capital Fund and am aware that it is open to me to seek advice from someone who is authorised under the Financial Services and Markets Act 2000 and who specialises in advising on this kind of investment.”;

“high net worth unincorporated association” means an unincorporated association—

(a)

which falls within article 49(2)(b) of the Financial Services and Markets Act 2000[F812(Financial Promotion) Order 2005F812]; and

(b)

on behalf of which an officer of that association or a member of its governing body has signed a statement in the following terms:

  • “This unincorporated association is a high net worth unincorporated association and falls within article 49(2)(b) of the Financial Services and Markets Act 2000[F812(Financial Promotion) Order 2005F812]. I understand that any Business Angel-led Enterprise Capital Fund (within the meaning of article 72F of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001), in which this association participates, or any person who operates that Business Angel-led Enterprise Capital Fund, in which this association participates, will not be authorised under the Financial Services and Markets Act 2000 (and so will not have to satisfy the threshold conditions set out in Part I of Schedule 6 to that Act and will not be subject to [F814Financial Conduct AuthorityF814] rules such as those on holding client money). I understand that this means that redress through the [F814Financial Conduct AuthorityF814], the Financial Ombudsman Scheme or the Financial Services Compensation Scheme will not be available. I also understand the risks associated in investing in a Business Angel-led Enterprise Capital Fund and am aware that it is open to the association to seek advice from someone who is authorised under the Financial Services and Markets Act 2000 and who specialises in advising on this kind of investment.”;

“high value trust” means a trust—

(a)

where the aggregate value of the cash and investments which form a part of the trust’s assets (before deducting the amount of its liabilities) is £10 million or more;

(b)

on behalf of which a trustee has signed a statement in the following terms:

  • “This trust is a high value trust. I understand that any Business Angel-led Enterprise Capital Fund (within the meaning of article 72F of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001), in which this trust participates, or any person who operates that Business Angel-led Enterprise Capital Fund, in which this trust participates, will not be authorised under the Financial Services and Markets Act 2000 (and so will not have to satisfy the threshold conditions set out in Part I of Schedule 6 to that Act and will not be subject to [F814Financial Conduct AuthorityF814] rules such as those on holding client money). I understand that this means that redress through the [F814Financial Conduct AuthorityF814], the Financial Ombudsman Scheme or the Financial Services Compensation Scheme will not be available. I also understand the risks associated in investing in a Business Angel-led Enterprise Capital Fund and am aware that it is open to the trust to seek advice from someone who is authorised under the Financial Services and Markets Act 2000 and who specialises in advising on this kind of investment.”;

“self-certified sophisticated investor” means an individual who—

(a)

is a “self-certified sophisticated investor” within the meaning of article 50A of the Financial Services and Markets Act 2000[F812(Financial Promotion) Order 2005F812];

(b)

has signed a statement in the following terms:

  • “I declare that I am a self-certified sophisticated investor within the meaning of article 50A of the Financial Services and Markets Act 2000[F812(Financial Promotion) Order 2005F812] and that I understand that any Business Angel-led Enterprise Capital Fund (within the meaning of article 72F of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001), in which I participate, or any person who operates that Business Angel-led Enterprise Capital Fund, in which I participate, will not be authorised under the Financial Services and Markets Act 2000 (and so will not have to satisfy the threshold conditions set out in Part I of Schedule 6 to that Act and will not be subject to [F814Financial Conduct AuthorityF814] rules such as those on holding client money). I understand that this means that redress through the [F814Financial Conduct AuthorityF814], the Financial Ombudsman Scheme or the Financial Services Compensation Scheme will not be available. I also understand the risks associated in investing in a Business Angel-led Enterprise Capital Fund and am aware that it is open to me to seek advice from someone who is authorised under the Financial Services and Markets Act 2000 and who specialises in advising on this kind of investment.”;

“sophisticated investor” means an individual who—

(a)

is a “certified sophisticated investor” within the meaning of article 50(1) of the Financial Services and Markets Act 2000[F812(Financial Promotion) Order 2005F812]; and

(b)

has signed a statement in the following terms:

  • “I declare that I am a certified sophisticated investor within the meaning of article 50(1) of the Financial Services and Markets Act 2000[F812(Financial Promotion) Order 2005F812] and that I understand that any Business Angel-led Enterprise Capital Fund (within the meaning of article 72F of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001), in which I participate, or any person who operates that Business Angel-led Enterprise Capital Fund, in which I participate, will not be authorised under the Financial Services and Markets Act 2000 (and so will not have to satisfy the threshold conditions set out in Part I of Schedule 6 to that Act and will not be subject to [F814Financial Conduct AuthorityF814] rules such as those on holding client money). I understand that this means that redress through the [F814Financial Conduct AuthorityF814], the Financial Ombudsman Scheme or the Financial Services Compensation Scheme will not be available. I also understand the risks associated in investing in a Business Angel-led Enterprise Capital Fund and am aware that it is open to me to seek advice from someone who is authorised under the Financial Services and Markets Act 2000 and who specialises in advising on this kind of investment.”;

“unlisted company” has the meaning given by article 3 of the Financial Services and Markets Act 2000[F812(Financial Promotion) Order 2005F812].

(2)References in this Article and in Article 72E to a participant in a Business Angel-led Enterprise Capital Fund, doing things on behalf of such a participant and property belonging to such a participant are, respectively, references to that participant in that capacity, to doing things on behalf of that participant in that capacity or to the property of that participant held in that capacity.F805]

[F816Local authorities

72G.—(1)There is excluded from article 5 any activity which is carried on by a local authority.

(2)There is excluded from articles 21, 25(1) and (2), 39A and 53 any activity carried on by a local authority which relates to a contract of insurance which is not a qualifying contract of insurance.

(3)There is excluded from articles [F81725A(1)(b), 25A(2)F817], 25B, 25C, 25E, 36A, 39D, 39E, 39F, 39G, F818... 53B, 53C, 53D, 60N, F818... 63B, 63F, 63J or 89A any activity which is carried on by a local authority.

[F819(3A)There is excluded from article 25A(1)(b) and (2) any activity which is carried on by a company which is a wholly-owned subsidiary of a local authority.

(3B)F820There is excluded from articles 25A(1)(a) and (2A), 53A, 53DA and 61 any activity which is carried on by a local authority, or a company which is a wholly-owned subsidiary of a local authority, in so far as the contract ...—

[F821(a)was entered into before 21st March 2016; or

(b)is entered into on or after 21st March 2016 and—

[F822(i)is an agreement to which section 423A(3) of the Act applies;F822]

(ii)is a bridging loan; or

(iii)is a restricted public loan in relation to which the requirements of paragraph (6) are met.F821,F819]]

[F823(3C)There is excluded from article 59(1) and (1A) any activity which is carried on by a local authority.F823]

[F824(4)There is excluded from article 60B—

[F825(a)any activity which is carried on by a local authority—

(i)in relation to a credit agreement which was entered into before 21st March 2016, or which is entered into on or after that date for a purpose other than acquiring or retaining property rights in land or in an existing or projected building; and

(ii)in so far as the activity is carried on in relation to a credit agreement[F826falling within paragraph (6A) or within section 423A(2)(a) or (b) or (3)(b), (d), (e) or (f) of the Act;F826,F825]]

(b)any activity which is carried on by a local authority[F827in relation to a credit agreement entered into on or after 21st March 2016F827], the purpose of which is to acquire or retain property rights in land or in an existing or projected building, in so far as the credit agreement meets one of the following conditions—

[F828(i)it is an agreement to which section 423A(3) of the Act applies;F828]

(ii)it is a bridging loan; or

(iii)it is a restricted public loan in relation to which the requirements of paragraph (6) are met.F824]

[F829(4A)A reference in paragraph (4) to any land or building—

(a)in relation to an agreement entered into before IP completion day, is a reference to any land or building in the United Kingdom or within the territory of an EEA State;

(b)in relation to an agreement entered into on or after IP completion day, is a reference to any land or building in the United Kingdom.F829]

(5)There is excluded from article 64 any agreement made by a local authority to carry on an activity of the kind excluded by paragraphs (2) to (4).

[F830(6)The requirements of this paragraph are that—

(a)the borrower receives timely information on the main features, risks and costs of the loan at the pre-contractual stage; and

(b)any advertising of the loan is fair, clear and not misleading.

[F831(6A)The following credit agreements fall within this paragraph—

(a)an agreement involving a total amount of credit of less than 200 euro;

(b)an agreement that involves a total amount of credit of more than 75,000 euro, other than an unsecured credit agreement the purpose of which is the renovation of a residential immovable property;

(c)a hiring or leasing agreement under which an obligation to purchase the object of the agreement is not laid down either by the agreement itself or by any separate agreement;

(d)an agreement under which the credit is granted free of interest and without any other charges;

(e)an agreement under which the credit has to be repaid within three months and only insignificant charges are payable;

(f)an agreement concluded with an investment firm or a credit institution for the purposes of allowing an investor to carry out a transaction relating to one or more of the instruments listed in Part 1 of Schedule 2, where the investment firm or credit institution granting the credit is involved in that transaction;

(g)an agreement under which the consumer's liability is strictly limited to an item that the consumer is requested to deposit, upon the conclusion of the agreement, as security in the creditor's safe-keeping;

(h)an agreement that relates to a restricted public loan.

(6B)For the purposes of subsection (6A)(c), an obligation to purchase the object of the agreement is deemed to exist if the creditor decides that it does.F831]

(7)In this article—

“bridging loan” has the meaning given by [F832article 60G(9)F832];

“borrower” means a person receiving credit;

[F833“consumer” means an individual who is acting for purposes outside those of any trade, business or profession carried on by the individual;F833]

F834...

“credit” includes a cash loan and any other form of financial accommodation;

“restricted public loan” means credit that is—

(a)

offered to a particular class of borrower and not offered to the public generally;

(b)

offered under an enactment with a general interest purpose; and

(c)

provided on terms which are more favourable to the borrower than those prevailing on the market, because the credit meets one of the following conditions—

(i)

it is interest free;

(ii)

the rate of interest is lower than that prevailing on the market; or

(iii)

the rate of interest is no higher than that prevailing on the market but the other terms on which the credit is provided are more favourable to the borrower; and

“wholly-owned subsidiary” has the same meaning as in section 1159 (meaning of “subsidiary” etc.) of the Companies Act 2006 and, for the purposes of this definition, a local authority is to be treated as a body corporate.F830]

Insolvency practitioners

72H.—(1)There is excluded from the provisions listed in paragraph (2) any activity carried on by a person acting as an insolvency practitioner.

(2)The provisions are—

(a)article 14 (dealing in investments as principal);

(b)article 21 (dealing in investments as agent);

(c)article 25 (arranging deals in investments);

(d)article 25D (operating a multilateral trading facility);

[F835(da)article 25DA (operating an organised trading facility);F835]

(e)article 37 (managing investments);

(f)article 39A (assisting in the administration and performance of a contract of insurance);

(g)article 39D (debt adjusting);

(h)article 39E (debt-counselling);

(i)article 39F (debt-collecting);

(j)article 39G (debt administration);

(k)article 40 (safeguarding and administering investments);

(l)article 45 (sending dematerialised instructions);

(m)article 51ZA (managing [F836a UK UCITSF836]);

(n)article 51ZB (acting as trustee or depositary of [F837a UK UCITSF837]);

(o)article 51ZC (managing an AIF);

(p)article 51ZD (acting as trustee or depositary of an AIF);

(q)article 51ZE (establishing etc. a collective investment scheme);

(r)article 52 (establishing etc. a pension scheme);

(s)article 53 (advising on investments);

[F838(sa)article 59(1A) (carrying out a funeral plan contract as provider);F838]

(t)article 89A (providing credit information services).

(3)There is excluded from articles 39D, 39E and 89A any activity carried on by a person acting in reasonable contemplation of that person’s appointment as an insolvency practitioner.

(4)There is excluded from article 64 any agreement made by a person acting as an insolvency practitioner to carry on an activity of the kind excluded by paragraph (1).

(5)There is excluded from article 64 any agreement made by a person acting in reasonable contemplation of that person’s appointment as an insolvency practitioner to carry on an activity of the kind excluded by paragraph (3).F816]

[F839Registered consumer buy-to-let mortgage firms

72I.—(1)There is excluded from articles 25A, 36A, 53A, 53DA, 60B and 61 any consumer buy-to-let mortgage business[F840which relates to an agreement entered into on or after 21st March 2016 and isF840] carried on by a registered consumer buy-to-let mortgage firm.

(2)In this article “consumer buy-to-let mortgage business” and “registered consumer buy-to-let mortgage firm” have the meanings given in article 4 of the Mortgage Credit Directive Order 2015(interpretation of Part 3).F839]

[F841Persons seeking to use the exemption under Article 2.1(j) of the markets in financial instruments directive

72J.—(1)An activity which falls within Article 2.1(j)(i) or (ii) (exemptions) of the markets in financial instruments directive (“an Article 2.1(j) activity”) is excluded from the activities specified by articles 14, 21 and 25 if during a calendar year the person carrying on the activity—

(a)cannot perform the market threshold calculation to establish if the Article 2.1(j) activity falls within the exemption under Article 2.1(j) of the markets in financial instruments directive because the relevant data is not publicly available from an official source;

(b)carries on the Article 2.1(j) activity during a period of 8 weeks beginning with the day after the day on which the relevant data is made publicly available from an official source; or

(c)has made an application to the appropriate regulator for a Part 4A permission to carry on a regulated activity specified by articles 14, 21 and 25 which constitutes the Article 2.1(j) activity and the application has not been determined or withdrawn.

(2)The exclusion in paragraph (1) does not apply to an Article 2.1(j) activity carried on by a person who is an authorised person in relation to an activity which constitutes the Article 2.1(j) activity.

(3)In this paragraph—

“market threshold calculation” means the calculation of the size of trading activities referred to in Article 2 of the delegated regulation that must be carried out annually in the first quarter of a calendar year under the procedure set out in Article 4 (procedure for calculation) of that delegated regulation;

“official source” means an EU institution or a regulator;

“relevant data” means any data or other information that enables a calculation to be made of the overall market trading activity in an asset class under the procedure in Article 2.3 (overall market threshold) of the delegated regulation;

“the appropriate regulator” in relation to an application for a Part 4A permission means the appropriate regulator in relation to that application for the purposes of section 55A (application for permission) of the Act; and

“the delegated regulation” means CommissionDelegated Regulation (EU) 2017/592 of 1 December 2016 supplementing Directive 2014/65/EU of the European Parliament and the Council with regard to regulatory technical standards for the criteria to establish when an activity is considered to be ancillary to the main business .F841]

PART III SPECIFIED INVESTMENTS

Investments: general

73. The following kinds of investment are specified for the purposes of section 22 of the Act.

Deposits

74. A deposit.

[F842Electronic money

74A.Electronic money.F842]

Contracts of insurance

75. Rights under a contract of insurance.

Shares etc.

76.—(1) Shares or stock in the share capital of—

(a)any body corporate (wherever incorporated), and

(b)any unincorporated body constituted under the law of a country or territory outside the United Kingdom.

(2) Paragraph (1) includes—

(a)any shares of a class defined as deferred shares for the purposes of section 119 of the Building Societies Act 1986M23[F843or section 31A of the Credit Unions Act 1979F843] ; and

(b)any transferable shares in a body incorporated under the law of, or any part of, the United Kingdom relating to [F844co-operative and community benefit societies,F844] industrial and provident societies or credit unions, or in a body constituted under the law of another EEA State for purposes equivalent to those of such a body.

(3) But subject to paragraph (2) there are excluded from paragraph (1) shares or stock in the share capital of—

(a)an open-ended investment company;

(b)a building society incorporated under the law of, or any part of, the United Kingdom;

(c)a body incorporated under the law of, or any part of, the United Kingdom relating to [F845co-operative and community benefit societies,F845] industrial and provident societies or credit unions;

(d)any body constituted under the law of an EEA State for purposes equivalent to those of a body falling within sub-paragraph (b) or (c).

Instruments creating or acknowledging indebtedness

77.—(1) Subject to paragraph (2), such of the following as do not fall within [F846article F847... 78F846] —

(a)debentures;

(b)debenture stock;

(c)loan stock;

(d)bonds;

(e)certificates of deposit;

(f)any other instrument creating or acknowledging indebtedness.

(2) If and to the extent that they would otherwise fall within paragraph (1), there are excluded from that paragraph—

(a)an instrument acknowledging or creating indebtedness for, or for money borrowed to defray, the consideration payable under a contract for the supply of goods or services;

(b)a cheque or other bill of exchange, a banker’s draft or a letter of credit (but not a bill of exchange accepted by a banker);

(c)a banknote, a statement showing a balance on a current, deposit or savings account, a lease or other disposition of property, or a heritable security; and

(d)a contract of insurance.

F848(e). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) An instrument excluded from paragraph (1) of article 78 by paragraph (2)(b) of that article is not thereby to be taken to fall within paragraph (1) of this article.

[F849Alternative finance investment bonds

77A.—(1)Rights under an alternative finance investment bond, to the extent that they do not fall within article [F85077 orF850] 78.

(2)For the purposes of this article, arrangements constitute an alternative finance investment bond if—

(a)the arrangements provide for a person (“the bond-holder”) to pay a sum of money (“the capital”) to another (“the bond-issuer”);

(b)the arrangements identify assets, or a class of assets, which the bond-issuer will acquire for the purpose of generating income or gains directly or indirectly (“the bond assets”);

(c)the arrangements specify a period at the end of which they cease to have effect (“the bond term”);

(d)the bond-issuer undertakes under the arrangements—

(i)to make a repayment in respect of the capital (“the redemption payment”) to the bond-holder during or at the end of the bond term (whether or not in instalments); and

(ii)to pay to the bond-holder other payments on one or more occasions during or at the end of the bond term (“the additional payments”);

(e)the amount of the additional payments does not exceed an amount which would, at the time at which the bond is issued, be a reasonable commercial return on a loan of the capital; and

[F851(f)the arrangements are—

(i)a security that is admitted to the official list in accordance with Part 6 of the Act,

(ii)a security that is admitted to an official list in the EEA (in accordance with the provisions of Directive 2001/34/EC of the European Parliament and of the Council on the admission of securities to official stock exchange listing and on information to be published on those securities) and has been so admitted since before IP completion day,

(iii)a security that is admitted to trading on a recognised investment exchange or a UK trading venue, or

(iv)a security that is admitted to trading on an EU trading venue and has been so admitted since before IP completion day.F851]

(3)For the purposes of paragraph (2)—

(a)the bond-issuer may acquire the bond assets before or after the arrangements take effect;

(b)the bond assets may be property of any kind, including rights in relation to property owned by someone other than the bond-issuer;

(c)the identification of the bond assets mentioned in paragraph (2)(b) and the undertakings mentioned in paragraph (2)(d) may (but need not) be described as, or accompanied by a document described as, a declaration of trust;

(d)the reference to a period in paragraph (2)(c) includes any period specified to end upon the redemption of the bond by the bond-issuer;

(e)the bond-holder may (but need not) be entitled under the arrangements to terminate them, or participate in terminating them, before the end of the bond term;

(f)the amount of the additional payments may be—

(i)fixed at the beginning of the bond term;

(ii)determined wholly or partly by reference to the value of or income generated by the bond assets; or

(iii)determined in some other way;

(g)if the amount of the additional payments is not fixed at the beginning of the bond term, the reference in paragraph (2)(e) to the amount of the additional payments is a reference to the maximum amount of the additional payments;

(h)the amount of the redemption payment may (but need not) be subject to reduction in the event of a fall in the value of the bond assets or in the rate of income generated by them; and

(i)entitlement to the redemption payment may (but need not) be capable of being satisfied (whether or not at the option of the bond-issuer or the bond-holder) by the issue or transfer of shares or other securities.

[F852(3A)In sub-paragraph (2)(f)—

“EU trading venue” has the meaning given by Article 2.1.16B of the markets in financial instruments regulation;

“UK trading venue” has the meaning given by Article 2.1.16A of that regulation.F852]

(4)An instrument excluded from paragraph (1) of article 78 by paragraph (2)(b) of that article is not thereby taken to fall within paragraph (1) of this article.F849]

Government and public securities

78.—(1) Subject to paragraph (2), loan stock, bonds and other instruments creating or acknowledging indebtedness, issued by or on behalf of any of the following—

(a)the government of the United Kingdom;

(b)the Scottish Administration;

(c)the Executive Committee of the Northern Ireland Assembly;

(d)the National Assembly for Wales;

(e)the government of any country or territory outside the United Kingdom;

(f)a local authority in the United Kingdom or elsewhere; or

(g)a body the members of which comprise—

(i)F853states including the United Kingdom ...; or

(ii)F854bodies whose members comprise states including the United Kingdom ....

(2)[F855Subject to paragraph (3),F855] there are excluded from paragraph (1)—

(a)so far as applicable, the instruments mentioned in article 77(2)(a) to (d);

(b)any instrument creating or acknowledging indebtedness in respect of—

(i)money received by the Director of Savings as deposits or otherwise in connection with the business of the National Savings Bank;

(ii)M24,M25money raised under the National Loans Act 1968 under the auspices of the Director of Savings or treated as so raised by virtue of section 11(3) of the National Debt Act 1972 .

[F856(3)Paragraph (2)(a) does not exclude an instrument which meets the requirements set out in sub-paragraphs (a) to (e) of article 77A(2).F856]

Instruments giving entitlements to investments

79.—(1) Warrants and other instruments entitling the holder to subscribe for any investment of the kind specified by article 76, 77 [F857, 77AF857] or 78.

(2) It is immaterial whether the investment to which the entitlement relates is in existence or identifiable.

(3) An investment of the kind specified by this article is not to be regarded as falling within article 83, 84 or 85.

Certificates representing certain securities

80.—(1) Subject to paragraph (2), certificates or other instruments which confer contractual or property rights (other than rights consisting of an investment of the kind specified by article 83)—

(a)in respect of any investment of the kind specified by any of articles 76 to 79, being an investment held by a person other than the person on whom the rights are conferred by the certificate or instrument; and

(b)the transfer of which may be effected without the consent of that person.

(2) There is excluded from paragraph (1) any certificate or other instrument which confers rights in respect of two or more investments issued by different persons, or in respect of two or more different investments of the kind specified by article 78 and issued by the same person.

Units in a collective investment scheme

81. Units in a collective investment scheme (within the meaning of Part XVII of the Act).

[F858Rights under a pension scheme

82.—(1)Rights under a stakeholder pension scheme.

(2)Rights under a personal pension scheme.

[F859(3)Rights or interests under a pension scheme which provides safeguarded benefits (within the meaning given in article 53E(2)).

(4)Paragraph (3) specifies a kind of investment in relation to the kind of activity specified in article 53E (advising on conversion or transfer of pension benefits), and not in relation to any other specified kind of activity.F859,F858]]

[F860Pensions in respect of which information is requested or provided using a pensions dashboard service

82ZA.—(1)Any pension in respect of which information is requested or provided using a pensions dashboard service as defined in article 89BA(3) (operating a pensions dashboard service).

(2)Paragraph (1) specifies a kind of investment in relation to the kind of activity specified in article 89BA, and not in relation to any other specified kind of activity.F860]

[F861Greenhouse gas emissions allowances

82A.Greenhouse gas emissions allowances which are auctioned as financial instruments or as two-day spots within the meaning of Article 3.3 of the emission allowance auctioning regulation[F862or regulation 2(1) of the UK auctioning regulationsF862].F861]

[F863Emission allowances

82B.—(1)Subject to paragraph (2)—

(a)emission allowances consisting of any units recognised for compliance (by an EEA State) with the requirements of the emission allowance trading directive; and

(b)allowances created under article 18 of the trading scheme order and transferable in accordance with that order.F864]

(2)Paragraph (1) only applies to emission allowances in relation to which—

[F865(a)an investment firm or qualifying credit institution is providing or performing investment services and activities on a professional basis,

(b)a management company which has a Part 4A permission to do so is providing the investment service specified in paragraph 4 or 5 of Part 3 of Schedule 2 or the ancillary service specified in paragraph 1 of Part 3A of that Schedule,

(c)a market operator is providing the investment service specified in paragraph 8 or 9 of Part 3 of that Schedule, or

(d)a full-scope UK AIFM which has a Part 4A permission to do so is providing the investment service specified in paragraph 1, 4 or 5 of Part 3 of that Schedule or the ancillary service specified in paragraph 1 of Part 3A of that Schedule.F865,F863]]

Options

83.[F866—(1)F866] Options to acquire or dispose of—

(a)a security or contractually based investment (other than one of a kind specified by this article);

(b)currency of the United Kingdom or any other country or territory;

(c)F867palladium, platinum, gold or silver; ...

(d)an option to acquire or dispose of an investment of the kind specified by this article by virtue of paragraph (a), (b) or (c) [F868;

(e)subject to paragraph (4), an option to acquire or dispose of an option to which [F869paragraph 5, 6, 7 or 10 of Part 1 of Schedule 2 (read with Articles 5, 6, 7, and 8 of the Commission Regulation) appliesF869,F868]] .

[F870(2)Subject to paragraph (4), options—

(a)to which paragraph (1) does not apply;

(b)which relate to commodities;

(c)which may be settled physically; and

(d)either—

(i)to which paragraph 5 or 6 of F871... Part 1 of Schedule 2 [F872(read with Articles 5 and 6 of the Commission Regulation)F872], applies, or

(ii)which in accordance with Article [F8737F873] of the Commission Regulation (the text of which is set out in Part 2 of Schedule 2) are to be considered as having the characteristics of other derivative financial instruments and not being for commercial purposes, and to which paragraph 7 of [F874Part 1 of that ScheduleF874] applies.

(3)Subject to paragraph (4), options—

(a)to which paragraph (1) does not apply;

(b)which may be settled physically; and

(c)to which paragraph 10 of [F875Part 1 of Schedule 2F875] (read with [F876Articles 7 and 8 ofF876] the Commission Regulation) applies.

(4)Paragraphs (1)(e), (2) and (3) only apply to options in relation to which—

[F877(a)an investment firm or qualifying credit institution is providing or performing investment services and activities on a professional basis,

(b)a management company which has a Part 4A permission to do so is providing the investment service specified in paragraph 4 or 5 of Part 3 of Schedule 2 or the ancillary service specified in paragraph 1 of Part 3A of that Schedule,

(c)a market operator is providing the investment service specified in paragraph 8 or 9 of Part 3 of that Schedule, or

(d)a full-scope UK AIFM which has a Part 4A permission to do so is providing the investment service specified in paragraph 1, 4 or 5 of Part 3 of that Schedule or the ancillary service specified in paragraph 1 of Part 3A of that Schedule.F877]

F878(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .F870]

Futurescross-notes

84.—(1) Subject to paragraph (2), rights under a contract for the sale of a commodity or property of any other description under which delivery is to be made at a future date and at a price agreed on when the contract is made.

[F879(1A)Subject to paragraph (1D), futures—

(a)to which paragraph (1) does not apply;

(b)which relate to commodities;

(c)which may be settled physically; and

(d)to which paragraph 5 or 6 of [F880Part 1 of Schedule 2F880][F881(read with Articles 5 and 6 of the Commission Regulation)F881] applies.

(1B)Subject to paragraph (1D), futures and forwards—

(a)to which paragraph (1) does not apply;

(b)which relate to commodities;

(c)which may be settled physically;

(d)which in accordance with Article [F8827F882] of the Commission Regulation (the text of which is set out in Part 2 of Schedule 2) are to be considered as having the characteristics of other derivative financial instruments and not being for commercial purposes; and

(e)to which paragraph 7 of [F883Part 1 of Schedule 2F883] applies.

(1C)Subject to paragraph (1D), futures—

(a)to which paragraph (1) does not apply;

(b)which may be settled physically; and

(c)to which paragraph 10 of [F884Part 1 of Schedule 2F884] (read with [F885Articles 7 and 8 ofF885] the Commission Regulation) applies.

[F886(1CA)Subject to paragraph (1D), any other derivative contract, relating to currencies to which paragraph 4 of [F887Part 1 of Schedule 2F887] directive read with Article 10 of the Commission Regulation ([F888the text of which is set out in Part 2 of Schedule 2F888]) applies.F886]

(1D)Paragraph (1A), (1B)[F889, (1C) and (1CA)F889] only apply to futures [F890, forwards or derivative contractsF890] in relation to which—

[F891(a)an investment firm or qualifying credit institution is providing or performing investment services and activities on a professional basis,

(b)a management company which has a Part 4A permission to do so is providing the investment service specified in paragraph 4 or 5 of Part 3 of Schedule 2 or the ancillary service specified in paragraph 1 of Part 3A of that Schedule,

(c)a market operator is providing the investment service specified in paragraph 8 or 9 of Part 3 of that Schedule, or

(d)a full-scope UK AIFM which has a Part 4A permission to do so is providing the investment service specified in paragraph 1, 4 or 5 of Part 3 of that Schedule or the ancillary service specified in paragraph 1 of Part 3A of that Schedule.F891]

F892(1E). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .F879]

(2) There are excluded from paragraph (1) rights under any contract which is made for commercial and not investment purposes.

(3) A contract is to be regarded as made for investment purposes if it is made or traded on a recognised investment exchange, or is made otherwise than on a recognised investment exchange but is expressed to be as traded on such an exchange or on the same terms as those on which an equivalent contract would be made on such an exchange.

(4) A contract not falling within paragraph (3) is to be regarded as made for commercial purposes if under the terms of the contract delivery is to be made within seven days, unless it can be shown that there existed an understanding that (notwithstanding the express terms of the contract) delivery would not be made within seven days.

(5) The following are indications that a contract not falling within paragraph (3) or (4) is made for commercial purposes and the absence of them is an indication that it is made for investment purposes—

(a)one or more of the parties is a producer of the commodity or other property, or uses it in his business;

(b)the seller delivers or intends to deliver the property or the purchaser takes or intends to take delivery of it.

(6) It is an indication that a contract is made for commercial purposes that the prices, the lot, the delivery date or other terms are determined by the parties for the purposes of the particular contract and not by reference (or not solely by reference) to regularly published prices, to standard lots or delivery dates or to standard terms.

(7) The following are indications that a contract is made for investment purposes—

(a)it is expressed to be as traded on an investment exchange;

(b)performance of the contract is ensured by an investment exchange or a clearing house;

(c)there are arrangements for the payment or provision of margin.

(8) For the purposes of paragraph (1), a price is to be taken to be agreed on when a contract is made—

(a)notwithstanding that it is left to be determined by reference to the price at which a contract is to be entered into on a market or exchange or could be entered into at a time and place specified in the contract; or

(b)in a case where the contract is expressed to be by reference to a standard lot and quality, notwithstanding that provision is made for a variation in the price to take account of any variation in quantity or quality on delivery.

Contracts for differences etc.

85.—(1) Subject to paragraph (2), rights under—

(a)a contract for differences; or

(b)any other contract the purpose or pretended purpose of which is to secure a profit or avoid a loss by reference to fluctuations in—

(i)the value or price of property of any description; or

(ii)an index or other factor designated for that purpose in the contract.

(2) There are excluded from paragraph (1)—

(a)rights under a contract if the parties intend that the profit is to be secured or the loss is to be avoided by one or more of the parties taking delivery of any property to which the contract relates;

(b)rights under a contract under which money is received by way of deposit on terms that any interest or other return to be paid on the sum deposited will be calculated by reference to fluctuations in an index or other factor;

(c)rights under any contract under which—

(i)money is received by the Director of Savings as deposits or otherwise in connection with the business of the National Savings Bank; or

(ii)money is raised under the National Loans Act 1968 under the auspices of the Director of Savings or treated as so raised by virtue of section 11(3) of the National Debt Act 1972;

(d)rights under a qualifying contract of insurance.

[F893(3)Subject to paragraph (4), derivative instruments for the transfer of credit risk—

(a)to which neither article 83 nor paragraph (1) applies; and

(b)to which paragraph 8 of [F894Part 1 of Schedule 2F894] applies.

(4)Paragraph (3) only applies to derivatives in relation to which—

[F895(a)an investment firm or qualifying credit institution is providing or performing investment services and activities on a professional basis,

(b)a management company which has a Part 4A permission to do so is providing the investment service specified in paragraph 4 or 5 of Part 3 of Schedule 2 or the ancillary service specified in paragraph 1 of Part 3A of that Schedule,

(c)a market operator is providing the investment service specified in paragraph 8 or 9 of Part 3 of that Schedule,

(d)a full-scope UK AIFM which has a Part 4A permission to do so is providing the investment service specified in paragraph 1, 4 or 5 of Part 3 of that Schedule or the ancillary service specified in paragraph 1 of Part 3A of that Schedule.F895]

[F896(4A)Subject to paragraph (4B), a derivative contract of a binary or other fixed outcomes nature—

(a)to which paragraph (1) does not apply;

(b)which is settled in cash; and

(c)which is a financial instrument to which paragraph 4, 5, 6, 7 or 10 of [F897Part 1 of Schedule 2F897] read with Articles 5 to 8 and 10 of the Commission Regulation ([F898the text of which is set out in Part 2 of Schedule 2F898]) applies.

(4B)Paragraph (4A) only applies to derivatives in relation to which—

[F899(a)an investment firm or qualifying credit institution is providing or performing investment services and activities on a professional basis,

(b)a management company which has a Part 4A permission to do so is providing the investment service specified in paragraph 4 or 5 of Part 3 of Schedule 2 or the ancillary service specified in paragraph 1 of Part 3A of that Schedule,

(c)a market operator is providing the investment service specified in paragraph 8 or 9 of Part 3 of that Schedule,

(d)a full-scope UK AIFM which has a Part 4A permission to do so is providing the investment service specified in paragraph 1, 4 or 5 of Part 3 of that Schedule or the ancillary service specified in paragraph 1 of Part 3A of that ScheduleF899],

(e)a person is carrying on the activity specified by article 25(2).F896]

F900(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .F893]

Lloyd’s syndicate capacity and syndicate membership

86.—(1) The underwriting capacity of a Lloyd’s syndicate.

(2) A person’s membership (or prospective membership) of a Lloyd’s syndicate.

Funeral plan contractsI5

87. Rights under a funeral plan contract.

Regulated mortgage contractsI6

88. Rights under a regulated mortgage contract.

[F901Regulated home reversion plans

88A.Rights under a regulated home reversion plan.F901]

[F901Regulated home purchase plans

88B.Rights under a regulated home purchase plan.F901]

[F902Regulated sale and rent back agreements

88C.Rights under a regulated sale and rent back agreement.F902]

[F903Credit agreement

88D.Rights under a credit agreement.

Consumer hire agreement

88E.Rights under a consumer hire agreement.F903]

Rights to or interests in investments

89.—(1) Subject to paragraphs (2) to (4), any right to or interest in anything which is specified by any other provision of this Part (other than [F904article 88, [F90588A, 88B or 88CF905,F904]] ).

(2) Paragraph (1) does not include interests under the trusts of an occupational pension scheme.

[F906(2A)Paragraph (2) does not apply where the kind of activity specified in article 53E (advising on conversion or transfer of pension benefits)[F907or article 89BA (operating a pensions dashboard service)F907] is carried on by way of business in relation to the interests under the trusts of an occupational pension scheme.F906]

[F908(3)Paragraph (1) does not include any right or interest acquired as a result of entering into a funeral plan contract.F908]

(4) Paragraph (1) does not include anything which is specified by any other provision of this Part.

[F909PART 3ASPECIFIED ACTIVITIES IN RELATION TO INFORMATION

The activities

Providing credit information services

89A.—(1)Taking any of the steps in paragraph (3) on behalf of an individual or relevant recipient of credit is a specified kind of activity.

(2)Giving advice to an individual or relevant recipient of credit in relation to the taking of any of the steps specified in paragraph (3) is a specified kind of activity.

(3)Subject to paragraph (4), the steps specified in this paragraph are steps taken with a view to—

(a)ascertaining whether a credit information agency holds information relevant to the financial standing of an individual or relevant recipient of credit;

(b)ascertaining the contents of such information;

(c)securing the correction of, the omission of anything from, or the making of any other kind of modification of, such information;

(d)securing that a credit information agency which holds such information—

(i)stops holding the information, or

(ii)does not provide it to any other person.

(4)Steps taken by a credit information agency in relation to information held by that agency are not steps specified in paragraph (3).

(5)Paragraphs (1) and (2) do not apply to an activity of the kind specified by article 36H (operating an electronic system in relation to lending).

(6)“Credit information agency” means a person who carries on by way of business an activity of the kind specified by any of the following—

(a)article 36A (credit broking);

(b)article 39D (debt adjusting);

(c)article 39E (debt-counselling);

(d)article 39F (debt-collecting);

(e)article 39G (debt administration);

(f)article 60B (regulated credit agreements) disregarding the effect of article 60F;

(g)article 60N (regulated consumer hire agreements) disregarding the effect of article 60P;

(h)article 89B (providing credit references).

Providing credit references

89B.—(1)Furnishing of persons with information relevant to the financial standing of individuals or relevant recipients of credit is a specified kind of activity if the person has collected the information for that purpose.

(2)There are excluded from paragraph (1) activities carried on in the course of a business which does not primarily consist of activities of the kind specified by paragraph (1).

(3)Paragraph (1) does not apply to an activity of the kind specified by article 36H (operating an electronic system in relation to lending).

[F910Operating a pensions dashboard service

89BA.—(1)Operating a pensions dashboard service which connects to the Money and Pensions Service dashboards digital architecture is a specified kind of activity.

(2)This article does not apply to the Money and Pensions Service.

(3)In this Order—

“connect to the Money and Pensions Service dashboards digital architecture” means connect to the information technology systems delivered by or on behalf of the Money and Pensions Service that enable the interconnected system comprised of the following elements to work—

(a)

the Money and Pensions Service dashboards digital architecture,

(b)

the pensions dashboard services that connect to the Money and Pensions Service dashboards digital architecture,

(c)

the interfaces of pension schemes that connect to the Money and Pensions Service dashboards digital architecture,

(d)

the interfaces of pension schemes that connect to pensions dashboard services, and

(e)

any other party or service that needs to be connected in order for the system to work;

“pensions dashboard service” has the same meaning as in section 238A(1) of the Pensions Act 2004.F910]

Exclusions

89C.—(1)There are excluded from articles 89A and 89B activities carried on by—

(a)a barrister or advocate acting in that capacity;

(b)a solicitor (within the meaning of the Solicitors Act 1974) in the course of providing advocacy services or litigation services;

(c)a solicitor (within the meaning of the Solicitors (Scotland) Act 1980) in the course of providing advocacy services or litigation services;

(d)a solicitor (within the meaning of the Solicitors (Northern Ireland) Order 1976) in the course of providing advocacy services or litigation services;

(e)a relevant person (other than a person falling within sub-paragraph (a) to (d)) in the course of providing advocacy services or litigation services.

(2)In paragraph (1)—

“advocacy services” means any services which it would be reasonable to expect a person who is exercising, or contemplating exercising, a right of audience in relation to any proceedings, or contemplated proceedings, to provide for the purpose of those proceedings or contemplated proceedings;

“litigation services” means any services which it would be reasonable to expect a person who is exercising, or contemplating exercising, a right to conduct litigation in relation to any proceedings, or contemplated proceedings, to provide for the purpose of those proceedings or contemplated proceedings;

“relevant person” means a person who, for the purposes of the Legal Services Act 2007, is an authorised person in relation to an activity which constitutes the exercise of a right of audience or the conduct of litigation (within the meaning of that Act).F911]

[F912Other exclusionsF912]

89D.F913—(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F914(2)Article 89A is F915... subject to the exclusions in articles 72G (local authorities) and 72H (insolvency practitioners).F914]

Supplemental

Meaning of “consumer” etc.

89E.—(1)For the purposes of sections 1G, 404E and 425A of the Act (meaning of “consumer”)—

(a)an individual or a relevant recipient of credit who is, may be, has been or may have been the subject of the information referred to in article 89A, and

(b)an individual or a relevant recipient of credit who is, may be, has been or may have been the subject of information furnished in the course of a person carrying on an activity of the kind specified by article 89B, [F916or article 64 (agreeing to carry on specified kinds of activity) in so far as that article relates to article 89B,F916]

is to be treated as a “consumer”.

(2)For the purposes of section 328(8) of the Act (meaning of “clients”)—

(a)an individual or a relevant recipient of credit who is, may be, has been or may have been the subject of the information referred to in article 89A, and

(b)an individual or a relevant recipient of credit who is, may be, has been or may have been the subject of information furnished in the course of a person carrying on an activity of the kind specified by article 89B, [F917or article 64 (agreeing to carry on specified kinds of activity) in so far as that article relates to article 89B,F917]

is to be treated as a “client”.F909]

[F918PART 3BCLAIMS MANAGEMENT ACTIVITIES IN GREAT BRITAIN

The activities

“89F.Specified kinds of claims management activity

(1)A claims management activity is a specified kind of activity when it is an activity specified in any of articles 89G to 89M.

(2)For the purposes of this Part—

(a)“claimant” includes, in civil proceedings in Scotland, a pursuer;

(b)“defendant” includes, in civil proceedings in Scotland, a defender;

(c)“personal injury claim” means a claim for personal injury within the meaning of the Civil Procedure Rules 1998 in England and Wales and an action for damages for, or arising from, personal injuries within the meaning set out in section 8(7) of the Civil Litigation (Expenses and Group Proceedings) (Scotland) Act 2018 in Scotland;

(d)“financial services or financial product claim” includes a claim made under section 75 of the Consumer Credit Act 1974;

(e)“housing disrepair claim” means a claim under section 11 of the Landlord and Tenant Act 1985 or section 4 of the Defective Premises Act 1972 in England and Wales or an application in respect of the repairing standard under section 22 of the Housing (Scotland) Act 2006, or claims in relation to the disrepair of premises under a term of a tenancy agreement or lease or under the common law relating to nuisance or negligence, but does not include claims for statutory nuisance under section 82 of the Environmental Protection Act 1990;

(f)“a claim for a specified benefit” means a claim for one of the following benefits—

(i)industrial injuries benefit, within the meaning given by section 94 of the Social Security Contributions and Benefits Act 1992;

(ii)any supplement or additional allowance, or increase of benefit or allowance to which a recipient of an industrial injuries benefit may be entitled under that Act or any other Act;

(iii)a benefit under a scheme referred to in paragraph 2 or 4 of Schedule 8 to that Act; or

(iv)a benefit under the Pneumoconiosis etc. (Workers’ Compensation) Act 1979.

(g)“criminal injury claim” means a claim under the Criminal Injuries Compensation Scheme established under the Criminal Injuries Compensation Act 1995;

(h)“employment related claim” includes a claim in relation to wages and salaries and other employment related payments and claims in relation to wrongful or unfair dismissal, redundancy, discrimination and harassment;

(i)“investigating” means carrying out an investigation into, or commissioning the investigation of, the circumstances, merits or foundation of a claim; and

(j)“representing” means representation in writing or orally, regardless of the tribunal, body or person before which or to whom the representation is made.

(3)A person is to be treated as carrying on a regulated claims management activity in Great Britain when the activity is carried on—

(a)by a person who is—

(i)an individual who is ordinarily resident in Great Britain; or

(ii)a person, other than an individual, who is constituted under the law of England and Wales or Scotland; or

(b)in respect of a claimant or potential claimant who is—

(i)an individual who is ordinarily resident in Great Britain; or

(ii)a person, other than an individual, who is constituted under the law of England and Wales or Scotland.

(4)For the purposes of this article—

(a)a person is “ordinarily resident” in Great Britain if that person satisfies the requirements of the Statutory Residence Test as set out in Schedule 45 to the Finance Act 2013 either—

(i)at the time of the facts giving rise to the claim or potential claim; or

(ii)at the time when the regulated claims management activity is carried out in respect of that claimant or potential claimant;

(b)the references to the “UK” in the Statutory Residence Test in Schedule 45 are to be read as if they were expressed as references to “Great Britain”.

“89G.Seeking out, referrals and identification of claims or potential claims

(1)Each of the following is a specified kind of activity when carried on in relation to a claim of a kind specified in paragraph (2)—

(a)seeking out persons who may have a claim, unless that activity constitutes the communication of an invitation or inducement to engagement in claims management activity within the meaning of section 21 (restrictions on financial promotion) of the Act;

(b)referring details of—

(i)a claim or potential claim; or

(ii)a claimant or potential claimant

to another person (including to a person having the right to conduct litigation); and

(c)identifying—

(i)a claim or potential claim; or

(ii)a claimant or potential claimant.

(2)The kinds of claim are—

(a)a personal injury claim;

(b)a financial services or financial product claim;

(c)a housing disrepair claim;

(d)a claim for a specified benefit;

(e)a criminal injury claim; and

(f)an employment related claim.

“89H.Advice, investigation or representation in relation to a personal injury claim

Each of the following activities is a specified kind of activity when carried on in relation to a personal injury claim—

(a)advising a claimant or potential claimant;

(b)investigating a claim; and

(c)representing a claimant.

“89I.Advice, investigation or representation in relation to a financial services or financial product claim

Each of the following activities is a specified kind of activity when carried on in relation to a financial services or financial product claim—

(a)advising a claimant or potential claimant;

(b)investigating a claim; and

(c)representing a claimant.

“89J.Advice, investigation or representation in relation to a housing disrepair claim

Each of the following activities is a specified kind of activity when carried on in relation to a housing disrepair claim—

(a)advising a claimant or potential claimant;

(b)investigating a claim; and

(c)representing a claimant.

“89K.Advice, investigation or representation in relation to a claim for a specified benefit

Each of the following activities is a specified kind of activity when carried on in relation to a claim for a specified benefit—

(a)advising a claimant or potential claimant;

(b)investigating a claim; and

(c)representing a claimant.

“89L.Advice, investigation or representation in relation to a criminal injury claim

Each of the following activities is a specified kind of activity when carried on in relation to a criminal injury claim—

(a)advising a claimant or potential claimant;

(b)investigating a claim; and

(c)representing a claimant.

“89M.Advice, investigation or representation in relation to an employment related claim

Each of the following activities is a specified kind of activity when carried on in relation to an employment related claim—

(a)advising a claimant or potential claimant;

(b)investigating a claim; and

(c)representing a claimant.

Exclusions

“89N.Claims management activity conducted by legal professionals

(1)There is excluded from articles 89G to 89M any activity which is carried on in England and Wales by—

(a)a legal practitioner;

(b)a firm, organisation or body corporate that carries on the claims management activity through a legal practitioner; or

(c)an individual who carries on the claims management activity at the direction of, and under the supervision of, a legal practitioner who is—

(i)that individual’s employer or fellow employee; or

(ii)a director of a company, or a member of a limited liability partnership, that provides the service and is that individual’s employer.

(2)For the purposes of paragraph (1) “legal practitioner” means—

(a)a solicitor or barrister of any part of England and Wales or Northern Ireland;

(b)a Fellow of the Chartered Institute of Legal Executives;

(c)a European lawyer, as defined in the European Communities (Services of Lawyers) Order 1978 or the European Communities (Lawyer’s Practice) Regulations 2000;

(d)a registered foreign lawyer, as defined in section 89(9) of the Courts and Legal Services Act 1990;

(e)any other member of a legal profession, of a jurisdiction other than England and Wales, that is recognised by the Law Society of England and Wales or the General Council of the Bar as a regulated legal profession.

(3)There is excluded from articles 89G to 89M any activity which is carried on in Scotland by—

(a)a legal practitioner;

(b)a firm, organisation or body corporate that carries on the claims management activity through or under the supervision of a legal practitioner where that firm, organisation or body corporate is—

(i)a firm of solicitors;

(ii)an incorporated practice; or

(iii)a licensed legal services provider and the activity is a legal service as defined within section 3 of the Legal Services (Scotland) Act 2010.

(4)For the purposes of paragraph (3) “legal practitioner” means—

(a)a person who is qualified to practise as a solicitor under section 4 of the Solicitors (Scotland) Act 1980;

(b)an advocate who is a member of the Faculty of Advocates;

(c)a European lawyer as defined in the European Communities (Services of Lawyers) Order 1978 or the European Communities (Lawyer’s Practice) (Scotland) Regulations 2000; or

(d)a registered foreign lawyer within the meaning of section 65 of the Solicitors (Scotland) Act 1980.

(5)But an activity mentioned in paragraph (1) or (3) is only excluded from articles 89G to 89M if the legal practitioner concerned carries on the claims management activity in the ordinary course of legal practice pursuant to the professional rules to which that legal practitioner is subject.

(6)The exclusions in this article are to be read as if they were expressed as exemptions for the purposes of the following provisions of the Financial Guidance and Claims Act 2018—

(a)section 32(5)(b) (PPI claims: interim restriction on charges imposed by legal practitioners after transfer of regulation to the FCA); and

(b)section 33(11) (legal services regulators’ rules: charges for claims management services).

“89O.Claims management activity conducted by a charity or not-for-profit agency

(1)There is excluded from articles 89G to 89M any activity carried on by a charity or a not-for-profit agency.

(2)In this article “charity” means—

(a)a charity as defined by section 1(1) of the Charities Act 2011 or the Charities and Trustee Investment (Scotland) Act 2005; or

(b)a body registered in the Scottish Charity Register.

(3)In this article “not-for-profit agency” means a body that by or under its constitution—

(a)is required to apply the whole of its net income, and any expendable capital, after payment of outgoings for charitable or public purposes; and

(b)is prohibited from distributing, directly or indirectly, any part of its net income by way of profits or its assets among any of its members.

(4)But a body is not prevented from being a not-for-profit agency for the purposes of paragraph (3) if its constitution permits—

(a)the payment, out of the body’s funds, of reasonable and proper remuneration for goods or services supplied to the body by a member; or

(b)in the case of a not-for-profit body that is a charity, the payment to a member to which the member is eligible because that member is a beneficiary of the charity; or

(c)the purchase, out of the body’s funds, of indemnity insurance for trustees of the body.

“89P.Claims management activity conducted by a person appointed by a statutory or other public body

There is excluded from articles 89G to 89M any activity carried on by—

(a)any person established or appointed by virtue of an enactment;

(b)an Independent Complaints Reviewer; or

(c)an Independent Case Examiner

in the course of carrying out that individual’s duties.

“89Q.Claims management activity conducted by the Motor Insurers’ Bureau

There is excluded from articles 89G to 89M any activity carried on by the Motor Insurers’ Bureau in the course of carrying on its functions (being the company limited by guarantee mentioned in section 95(2) (notification of refusal of insurance on grounds of health) of the Road Traffic Act 1988).

“89R.Claims management activity conducted by a medical defence union

There is excluded from articles 89G to 89M any activity carried on by—

(a)the Medical Protection Society Limited for its members;

(b)the Medical Defence Union Limited for its members; or

(c)the Medical and Dental Defence Union of Scotland Limited for its members.

“89S.Claims management activity conducted an independent trade union

(1)There is excluded from articles 89G to 89M any activity carried on by an independent trade union for –

(a)a member (including a retired member or a studentmember) of an independent trade union;

(b)a member of the family of a member referred to in sub-paragraph (a); or

(c)a former member of the trade union to whom the trade union may, under its rules, provide claims management services, or a member of the family of such a former member.

(2)In paragraph (1), “independent trade union” has the same meaning as in the Trade Union and Labour Relations (Consolidation) Act 1992.

(3)For the purposes of paragraph (1) –

(a)subject to sub-paragraph (b), whether a person is or has been a member (including a retired member or a studentmember) of a trade union is to be decided in accordance with the rules of that trade union;

(b)“member” of a trade union does not include a person who, under those rules, is a member only for the purpose of pursuing a claim or claims; and

(c)whether a person is a member of the family of a member of a trade union is to be decided in accordance with the rules of that trade union.

(4)An exemption of a trade union under this article is subject to compliance by the trade union with the condition that the trade union, in carrying on a regulated claims management activity, must act in accordance with the code of practice for the provision of regulated claims management activities by trade unions issued by the Treasury.

“89T.Claims management activity conducted by a students’ union

(1)There is excluded from articles 89G to 89M any activity carried on by a students’ union for a member of that students’ union or a member of a constituent or affiliated association or body.

(2)In this article “students’ union” has the meaning given by section 20 (meaning of “students’ union”) of the Education Act 1994.

Claims management activity conducted by an insurance intermediary

89U.There is excluded from articles 89G to 89M any regulated activity of the kind specified in article 21, 25, 39A, 53 or 64 carried on by a person who has permission to carry on that activity in relation to a contract of insurance.

“89V.Certain providers of referrals

(1)There is excluded from article 89G the activity of referring details of a potential claim or potential claimant to another person if—

(a)the person who refers those details (“the introducer”) carries on no other regulated claims management activity;

(b)the activity is incidental to the introducer’s main business;

(c)the details are only referred to authorised persons, legal practitioners, or a firm, organisation or body corporate that provides the service through legal practitioners;

(d)of the claims that the introducer refers to such persons, that introducer is paid, in money or money’s worth, for no more than 25 claims per calendar quarter; and

(e)the introducer, in obtaining and referring those details, has complied with the provisions of the Data Protection Act 2018, the Privacy and Electronic Communications (EC Directive) Regulations 2003, the General Data Protection Regulation (EU) of the European Parliament and of the Council 2016/679 and [F919Chapter 1 of Part 4 of the Digital Markets, Competition and Consumers Act 2024F919].

(2)Paragraph (1)(e) does not apply in the case of a referral to a legal practitioner or firm, organisation or body corporate that carries on the activity through legal practitioners.

(3)In this article “legal practitioner” has the meaning given by article 89N(2) or (4).

“89W.Services in connection with counterclaims and claims against third parties

There is excluded from articles 89G to 89M any activity carried on in circumstances where—

(a)a claim has been made by a person (“the claimant”) against another person (“the defendant”); and

(b)the activity being carried on consists of the provision of a service to the defendant in connection with—

(i)the making of a counterclaim against the claimant arising out of the same set of facts as the claim referred to in sub-paragraph (a); or

(ii)the making of a claim against a third party (whether for contribution, as a subrogated claim, or otherwise) which is incidental to, or consequent on, the claim referred to in sub-paragraph (a).F918]

PART IV CONSEQUENTIAL PROVISIONS

Regulated mortgage contracts: consequential provisions

Consequential amendments of the Consumer Credit Act 1974

F92090. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Consequential amendments of subordinate legislation under the Consumer Credit Act 1974

F92191. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F922PART VUNAUTHORISED PERSONS CARRYING ON INSURANCE [F923DISTRIBUTIONF923] ACTIVITIES

Interpretation

92.In this Part—

“designated professional body” means a body which is for the time being designated by the Treasury under section 326 of the Act (designation of professional bodies);

“insurance [F924distributionF924] activity” means any regulated activity of the kind specified by article 21, 25(1) or (2), 39A or 53, or, so far as relevant to any of those articles, article 64, which is carried on in relation to a contract of insurance;

“the record” means the record maintained by [F925the FCAF925] under section 347 of the Act (public record of authorised persons etc.);

“recorded insurance intermediary” has the meaning given by article 93(4);

“a relevant member”, in relation to a designated professional body, means a member (within the meaning of section 325(2) of the Act) of the profession in relation to which that designated professional body is established, or a person who is controlled or managed by one or more such members.

Duty to maintain a record of unauthorised persons carrying on insurance [F926distributionF926] activities

93.—(1)Subject to articles 95 and 96, [F927the FCAF927] must include in the record every person who—

(a)as a result of information obtained by virtue of its rules or by virtue of a direction given, or requirement imposed, under [F928section 55U(4)F928] of the Act (procedure for applications under Part IV), appears to [F927the FCAF927] to fall within paragraph (2); or

(b)as a result of information obtained by virtue of article 94, appears to [F927the FCAF927] to fall within paragraph (3).

(2)A person falls within this paragraph if he is, or has entered into a contract by virtue of which he will be, an appointed representative who carries on any insurance [F926distributionF926] activity.

(3)A person falls within this paragraph if—

(a)he is a relevant member of a designated professional body who carries on, or is proposing to carry on, any insurance [F926distributionF926] activity; and

(b)the general prohibition does not (or will not) apply to the carrying on of those activities by virtue of section 327 of the Act (exemption from the general prohibition).

[F929(3A)An application for inclusion in the record made by a person who falls within paragraph (2) or (3) must be determined by the FCA before the end of the period of 3 months beginning with the date on which it received the completed application.

(3B)A notification by a designated professional body in accordance with article 94 is to be treated as an application for inclusion in the record for the purposes of paragraph (3A).F929]

(4)In this Part, “recorded insurance intermediary” means a person who is included in the record by virtue of paragraph (1).

(5)The record must include—

(a)in the case of any recorded insurance intermediary, its address; and

(b)in the case of a recorded insurance intermediary which is not an individual, the name of the individuals who are responsible for the management of the business carried on by the intermediary, so far as it relates to insurance [F926distributionF926] activities.

Members of designated professional bodies

94.—(1)A designated professional body must, by notice in writing, inform [F930the FCAF930] of—

(a)the name,

(b)the address, and

(c)in the case of a relevant member which is not an individual, the name of the individuals who are responsible for the management of the business carried on by the member, so far as it relates to insurance [F931distributionF931] activities,

of any relevant member who falls within paragraph (2).

(2)A relevant member of a designated professional body falls within this paragraph if, in accordance with the rules of that body, he carries on, or proposes to carry on any insurance [F931distributionF931] activity but does not have, and does not propose to apply for, Part IV permission on the basis that the general prohibition does not (or will not) apply to the carrying on of that activity by virtue of section 327 of the Act.

(3)A designated professional body must also, by notice in writing, inform [F932the FCAF932] of any change in relation to the matters specified in sub-paragraphs (a) to (c) of paragraph (1).

(4)A designated professional body must inform [F932the FCAF932] when a relevant member to whom paragraph (2) applies ceases, for whatever reason, to carry on insurance [F931distributionF931] activities.

(5)[F932The FCAF932] may give directions to a designated professional body as to the manner in which the information referred to in paragraphs (1), (3) and (4) must be provided.

Exclusion from record where not fit and proper to carry on insurance [F933distributionF933] activities

95.—(1)If it appears to [F934the FCAF934] that a person who falls within article 93(2) (appointed representatives) (“AR”) is not a fit and proper person to carry on insurance [F935distributionF935] activities, it may decide not to include him in the record or, if that person is already included in the record, to remove him from the record.

F936(1A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2)Where [F934the FCAF934] proposes to make a determination under paragraph (1), it must give AR a warning notice.

(3)If [F934the FCAF934] makes a determination under paragraph (1), it must give AR a decision notice.

(4)If [F934the FCAF934] gives AR a decision notice under paragraph (3), AR may refer the matter to the Tribunal.

(5)[F934The FCAF934] may, on the application of AR, revoke a determination under paragraph (1).

(6)If [F934the FCAF934] decides to grant the application, it must give AR written notice of its decision.

(7)If [F934the FCAF934] proposes to refuse the application, it must give AR a warning notice.

(8)If [F934the FCAF934] decides to refuse the application, it must give AR a decision notice.

(9)If [F934the FCAF934] gives AR a decision notice under paragraph (8), AR may refer the matter to the Tribunal.

(10)Sections 393 and 394 of the Act (third party rights and access to [F937FCA or PRAF937] material) apply to a warning notice given in accordance with paragraph (2) or (7) and to a decision notice given in accordance with paragraph (3) or (8).

Exclusion from the record where [F938FCAF938] has exercised its powers under Part XX of the Act

96.—(1)If a person who appears to [F939the FCAF939] to fall within article 93(3) (member of a designated professional body) falls within paragraph (2) or (3), [F939the FCAF939] must not include him in the record or, if that person is already included in the record, must remove him from the record.

(2)A person falls within this paragraph if, by virtue of a direction given by [F939the FCAF939] under section 328(1) of the Act (directions in relation to the general prohibition), section 327(1) of the Act does not apply in relation to the carrying on by him of any insurance [F940distributionF940] activity.

(3)A person falls within this paragraph if [F939the FCAF939] has made an order under section 329(2) of the Act (orders in relation to the general prohibition) disapplying section 327(1) of the Act in relation to the carrying on by him of any insurance [F941distributionF941] activity.F922]

[F942PART 6MISCELLANEOUS

Disapplication of section 49(2) of the Act

97.In section 49 of the Act (persons connected with an applicant for Part 4 permission), after subsection (2) insert—

“(2A)But subsection (2) does not apply to the extent that the permission relates to—

(a)an insurance mediation activity (within the meaning given by paragraph 2(5) of Schedule 6); or

(b)a regulated activity involving a regulated mortgage contract.”.F942]

Greg Pope

Jim Dowd

Two of the Lords Commissioners of Her Majesty’s Treasury

Article 3(1)

SCHEDULE 1 CONTRACTS OF INSURANCEcross-notes

PART I CONTRACTS OF GENERAL INSURANCE

Accident

M26,M271. Contracts of insurance providing fixed pecuniary benefits or benefits in the nature of indemnity (or a combination of both) against risks of the person insured or, in the case of a contract made by virtue of section 140, 140A or 140B of the Local Government Act 1972 (or, in Scotland, section 86(1) of the Local Government (Scotland) Act 1973), a person for whose benefit the contract is made—

(a)sustaining injury as the result of an accident or of an accident of a specified class; or

(b)dying as a result of an accident or of an accident of a specified class; or

(c)becoming incapacitated in consequence of disease or of disease of a specified class,

including contracts relating to industrial injury and occupational disease but excluding contracts falling within paragraph 2 of Part I of, or paragraph IV of Part II of, this Schedule.

Sickness

2. Contracts of insurance providing fixed pecuniary benefits or benefits in the nature of indemnity (or a combination of both) against risks of loss to the persons insured attributable to sickness or infirmity but excluding contracts falling within paragraph IV of Part II of this Schedule.

Land vehicles

3. Contracts of insurance against loss of or damage to vehicles used on land, including motor vehicles but excluding railway rolling stock.

Railway rolling stock

4.Contract of insurance against loss of or damage to railway rolling stock.

Aircraft

5. Contracts of insurance upon aircraft or upon the machinery, tackle, furniture or equipment of aircraft.

Ships

6. Contracts of insurance upon vessels used on the sea or on inland water, or upon the machinery, tackle, furniture or equipment of such vessels.

Goods in transit

7. Contracts of insurance against loss of or damage to merchandise, baggage and all other goods in transit, irrespective of the form of transport.

Fire and natural forces

8. Contracts of insurance against loss of or damage to property (other than property to which paragraphs 3 to 7 relate) due to fire, explosion, storm, natural forces other than storm, nuclear energy or land subsidence.

Damage to property

9. Contracts of insurance against loss of or damage to property (other than property to which paragraphs 3 to 7 relate) due to hail or frost or any other event (such as theft) other than those mentioned in paragraph 8.

Motor vehicle liability

10. Contracts of insurance against damage arising out of or in connection with the use of motor vehicles on land, including third-party risks and carrier’s liability.

Aircraft liability

11. Contracts of insurance against damage arising out of or in connection with the use of aircraft, including third-party risks and carrier’s liability.

Liability of ships

12. Contracts of insurance against damage arising out of or in connection with the use of vessels on the sea or on inland water, including third party risks and carrier’s liability.

General liability

13. Contracts of insurance against risks of the persons insured incurring liabilities to third parties, the risks in question not being risks to which paragraph 10, 11 or 12 relates.

Credit

14. Contracts of insurance against risks of loss to the persons insured arising from the insolvency of debtors of theirs or from the failure (otherwise than through insolvency) of debtors of theirs to pay their debts when due.

Suretyship

15.—(1) Contracts of insurance against the risks of loss to the persons insured arising from their having to perform contracts of guarantee entered into by them.

(2) Fidelity bonds, performance bonds, administration bonds, bail bonds or customs bonds or similar contracts of guarantee, where these are—

(a)effected or carried out by a person not carrying on a banking business;

(b)not effected merely incidentally to some other business carried on by the person effecting them; and

(c)effected in return for the payment of one or more premiums.

Miscellaneous financial loss

16. Contracts of insurance against any of the following risks, namely—

(a)risks of loss to the persons insured attributable to interruptions of the carrying on of business carried on by them or to reduction of the scope of business so carried on;

(b)risks of loss to the persons insured attributable to their incurring unforeseen expense (other than loss such as is covered by contracts falling within paragraph 18);

(c)risks which do not fall within sub-paragraph (a) or (b) and which are not of a kind such that contracts of insurance against them fall within any other provision of this Schedule.

Assistance

18. Contracts of insurance providing either or both of the following benefits, namely—

(a)assistance (whether in cash or in kind) for persons who get into difficulties while travelling, while away from home or while away from their permanent residence; or

(b)assistance (whether in cash or in kind) for persons who get into difficulties otherwise than as mentioned in sub-paragraph (a).

PART II CONTRACTS OF LONG-TERM INSURANCE

Life and annuity

I. Contracts of insurance on human life or contracts to pay annuities on human life, but excluding (in each case) contracts within paragraph III.

Marriage and birth

II.Contract of insurance to provide a sum on marriage [F943or the formation of a civil partnershipF943] or on the birth of a child, being contracts expressed to be in effect for a period of more than one year.

Linked long term

III. Contracts of insurance on human life or contracts to pay annuities on human life where the benefits are wholly or party to be determined by references to the value of, or the income from, property of any description (whether or not specified in the contracts) or by reference to fluctuations in, or in an index of, the value of property of any description (whether or not so specified).

Permanent health

IV. Contracts of insurance providing specified benefits against risks of persons becoming incapacitated in consequence of sustaining injury as a result of an accident or of an accident of a specified class or of sickness or infirmity, being contracts that—

(a)are expressed to be in effect for a period of not less than five years, or until the normal retirement age for the persons concerned, or without limit of time; and

(b)either are not expressed to be terminable by the insurer, or are expressed to be so terminable only in special circumstances mentioned in the contract.

Tontines

V. Tontines.

Capital redemption contracts

VI. Capital redemption contracts, where effected or carried out by a person who does not carry on a banking business, and otherwise carries on a regulated activity of the kind specified by article 10(1) or (2).

Pension fund management

VII.

(a)Pension fund management contracts, and

(b)pension fund management contracts which are combined with contracts of insurance covering either conservation of capital or payment of a minimum interest,

where effected or carried out by a person who does not carry on a banking business, and otherwise carries on a regulated activity of the kind specified by article 10(1) or (2).

Collective insurance etc.

VIII. Contracts of a kind referred to in [F944Article 2(3)(b)(v) of the Solvency 2 DirectiveF944] .

Social insurance

IX. Contracts of a kind referred to in [F945Article 2(3)(c) of the Solvency 2 DirectiveF945] .

Article 3(1)

[F946SCHEDULE2[F947Financial Instruments and Investment services and activitiesF947]

PART1F948...

“Financial instruments

1.Transferable securities;

2.Money-market instruments;

3.Units in collective investment undertakings;

4.Options, futures, swaps, forward rate agreements and any other derivative contracts relating to securities, currencies, interest rates or yields, [F949emission allowancesF949] or other derivatives instruments, financial indices or financial measures which may be settled physically or in cash;

5.Options, futures, swaps, [F950forwardsF950] and any other derivative contracts relating to commodities that must be settled in cash or may be settled in cash at the option of one of the parties ([F951otherF951] than by reason of a default or other termination event);

6.Options, futures, swaps, and any other derivative [F952contractF952] relating to commodities that can be physically settled provided that they are traded on a [[F953,F954UK regulated market, a UK MTF or a UK OTF (as defined by Article 2(1)(13A), (14A) and (15A) respectively of the markets in financial instruments regulation)F954] except for wholesale energy products [F955traded on a UK OTFF955] that must be physically settledF953];

[F9567.Option, futures, swaps, forwards and any other derivative contracts relating to commodities, that can be physically settled not otherwise mentioned in point 6 of this Section and not being for commercial purposes [F957or wholesale energy products traded on an EU OTF (as defined by Article 2(1)(15B) of the markets in financial instruments regulation) that must be physically settledF957], which have the characteristics of other derivative financial instruments;F956]

8.Derivative instruments for the transfer of credit risk;

9.Financial contracts for differences;

[F95810.Options, futures, swaps, forward rate agreements and any other derivative contracts relating to climatic variables, freight rates or inflation rates or other official economic statistics that must be settled in cash or may be settled in cash at the option of one of the parties other than by reason of default or other termination event, as well as any other derivative contracts relating to assets, rights, obligations, indices and measures not otherwise mentioned in this Section, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are traded on [F959a UK regulated market, a UK OTF, or a UK MTF (as defined by Article 2(1)(13A), (15A) and (14A) respectively of the markets in financial instruments regulation);F959,F958]]

[F96011.Emission allowances consisting of any units recognised for compliance with the requirements of Directive 2003/87/EC (Emissions Trading Scheme) [F961or allowances created under article 18 of the trading scheme orderF961].F960]

[F962PART 2Articles 5 to 8, 10 and 11 of the Commission Regulation

Article 5Wholesale energy products that must be physically settled

1.For the purposes of [F963paragraphs 6 and 7 of Part 1 of Schedule 2 to this OrderF963], a wholesale energy product must be physically settled where all the following conditions are satisfied:

(a)it contains provisions which ensure that parties to the contract have proportionate arrangements in place to be able to make or take delivery of the underlying commodity; a balancing agreement with the Transmission System Operator in the area of electricity and gas shall be considered a proportionate arrangement where the parties to the agreement have to ensure physical delivery of electricity or gas.

(b)it establishes unconditional, unrestricted and enforceable obligations of the parties to the contract to deliver and take delivery of the underlying commodity;

(c)it does not allow either party to replace physical delivery with cash settlement;

(d)the obligations under the contract cannot be offset against obligations from other contracts between the parties concerned, without prejudice to the rights of the parties to the contract, to net their cash payment obligations.

For the purposes of point (d), operational netting in power and gas markets shall not be considered as offsetting of obligations under a contract against obligations from other contracts.

2.Operational netting shall be understood as any nomination of quantities of power and gas to be fed into a gridwork upon being so required by the rules or requests of a Transmission System Operator as defined in Article 2(4) of Directive 2009/72/EC of the European Parliament and of the Council for an entity performing an equivalent function to a Transmission System Operator at the national level. Any nomination of quantities based on operational netting shall not be at the discretion of the parties to the contract.

3.For the purposes of [F964paragraphs 6 and 7 of Part 1 of Schedule 2 to this OrderF964], force majeure shall include any exceptional event or a set of circumstances which are outside the control of the parties to the contract, which the parties to the contract could not have reasonably foreseen or avoided by the exercise of appropriate and reasonable due diligence and which prevent one or both parties to the contract from fulfilling their contractual obligations.

4.For the purposes of [F965paragraphs 6 and 7 of Part 1 of Schedule 2 to this OrderF965] bona fide inability to settle shall include any event or set of circumstances, not qualifying as force majeure as referred to in paragraph 3, which are objectively and expressly defined in the contract terms, for one or both parties to the contract, acting in good faith, not to fulfil their contractual obligations.

5.The existence of force majeure or bona fide inability to settle provisions shall not prevent a contract from being considered as ‘physically settled’ for the purposes of [F966paragraphs 6 and 7 of Part 1 of Schedule 2 to this OrderF966].

6.The existence of default clauses providing that a party is entitled to financial compensation in the case of non- or defective performance of the contract shall not prevent the contract from being considered as ‘physically settled’ within the meaning of [F967paragraphs 6 and 7 of Part 1 of Schedule 2 to this OrderF967].

7.The delivery methods for the contracts being considered as ‘physically settled’ within the meaning of [F968paragraphs 6 and 7 of Part 1 of Schedule 2 to this OrderF968] shall include at least:

(a)physical delivery of the relevant commodities themselves;

(b)delivery of a document giving rights of an ownership nature to the relevant commodities or the relevant quantity of the commodities concerned;

(c)other methods of bringing about the transfer of rights of an ownership nature in relation to the relevant quantity of goods without physically delivering them including notification, scheduling or nomination to the operator of an energy supply network, that entitles the recipient to the relevant quantity of the goods.

Article 6Energy derivative contracts relating to oil and coal and wholesale energy products

1.For the purposes of [F969paragraph 6 of Part 1 of Schedule 2 to this OrderF969], energy derivative contracts relating to oil shall be contracts with mineral oil, of any description and petroleum gases, whether in liquid or vapour form, including products, components and derivatives of oil and oil transport fuels, including those with biofuel additives, as an underlying.

2.For the purposes of [F970paragraph 6 of Part 1 of Schedule 2 to this OrderF970], energy derivative contracts relating to coal shall be contracts with coal, defined as a black or dark-brown combustible mineral substance consisting of carbonised vegetable matter, used as a fuel, as an underlying.

3.For the purposes of [F971paragraphs 6 and 7 of Schedule 2 to this OrderF971], energy derivative contracts that have the characteristics of wholesale energy products as defined in Article 2(4) of Regulation (EU) 1227/2011 of the European Parliament and Council shall be derivatives with electricity or natural gas as an underlying, in accordance with points (b) and (d) of Article 2(4) of that Regulation.

Article 7Other derivative financial instruments

1.For the purposes of [F972paragraph 7 of Part 1 of Schedule 2 to this OrderF972], a contract which is not a spot contract in accordance with paragraph 2 and which is not for commercial purposes as laid down in paragraph 4 shall be considered as having the characteristics of other derivative financial instruments where it satisfies the following conditions:

(a)it meets one of the following criteria:

[F973(i)it is traded on a third country trading venue which is a regulated market, an MTF or an OTF (as defined by Article 2(1)(13), (14) and (15) respectively of the markets in financial instruments regulation);F973]

(ii)it is expressly stated to be traded on, or is subject to the rules of, [F974a UK regulated market, a UK MTF, a UK OTF (as defined by Article 2(1)(13A), (14A) and (15A) respectively of the markets in financial instruments regulation);F974] or such a third country trading venue;

(iii)it is equivalent to a contract traded on [F975a UK regulated market, a UK MTF, a UK OTFF975] or such a third country trading venue, with regards to the price, the lot, the delivery date and other contractual terms;

(b)it is standardised so that the price, the lot, the delivery date and other terms are determined principally by reference to regularly published prices, standard lots or standard delivery dates.

2.A spot contract for the purposes of paragraph 1 shall be a contract for the sale of a commodity, asset or right, under the terms of which delivery is scheduled to be made within the longer of the following periods:

(a)2 trading days;

(b)the period generally accepted in the market for that commodity, asset or right as the standard delivery period.

A contract shall not be considered a spot contract where, irrespective of its explicit terms, there is an understanding between the parties to the contract that delivery of the underlying is to be postponed and not to be performed within the period referred to in paragraph 2.

3.For the purposes of [F976paragraph 10 of Part 1 of Schedule 2 to this OrderF976], a derivative contract relating to an underlying referred to in that Section or in Article 8 of this Regulation shall be considered to have the characteristics of other derivative financial instruments where one of the following conditions is satisfied:

(a)it is settled in cash or may be settled in cash at the option of one or more of the parties, otherwise than by reason of a default or other termination event;

(b)it is traded on a regulated market, an MTF, an OTFF977...;

(c)the conditions laid down in paragraph 1 are satisfied in relation to that contract.

4.A contract shall be considered to be for commercial purposes for the purposes of [F978paragraph 7 of Part 1 of Schedule 2 to this OrderF978], and as not having the characteristics of other derivative financial instruments for the purposes of [F979paragraphs 7 and 10 of Part 1 of Schedule 2 to this OrderF979], where the following conditions are both met:

(a)it is entered into with or by an operator or administrator of an energy transmission grid, energy balancing mechanism or pipeline network,

(b)it is necessary to keep in balance the supplies and uses of energy at a given time, including the case when the reserve capacity contracted by an electricity transmission system operator as defined in Article 2(4) of Directive 2009/72/EC is being transferred from one prequalified balancing service provider to another prequalified balancing service provider with the consent of the relevant transmission system operator.

Article 8Derivatives under [F980paragraph 10 of Part 1 of Schedule 2F980]

In addition to derivative contracts expressly referred to in [F981paragraph 10 of Part 1 of Schedule 2 to this OrderF981], a derivative contract shall be subject to the provisions in [F982that PartF982] where it meets the criteria set out in [F982that PartF982] and in Article 7(3) of this Regulation and it relates to any of the following:

(a)telecommunications bandwidth;

(b)commodity storage capacity;

(c)transmission or transportation capacity relating to commodities, whether cable, pipeline or other means with the exception of transmission rights related to electricity transmission cross zonal capacities when they are, on the primary market, entered into with or by a transmission system operator or any persons acting as service providers on their behalf and in order to allocate the transmission capacity;

(d)an allowance, credit, permit, right or similar asset which is directly linked to the supply, distribution or consumption of energy derived from renewable resources, except if the contract is already with the scope of [F983paragraph 4 of Part 1 of Schedule 2 to this OrderF983];

(e)a geological, environmental or other physical variable, except if the contract is relating to any [F984emission allowances referred to in paragraph 11 of Part 1 of Schedule 2 to this OrderF984];

(f)any other asset or right of a fungible nature, other than a right to receive a service, that is capable of being transferred;

(g)an index or measure related to the price or value of, or volume of transactions in any asset, right, service or obligation;

(h)an index or measure based on actuarial statistics.

Article 10Characteristics of other derivative contracts relating to currencies

1.For the purposes of [F985paragraph 4 of Part 1 of Schedule 2 to this OrderF985], other derivative contracts relating to a currency shall not be a financial instrument where the contract is one of the following:

(a)a spot contract within the meaning of paragraph 2 of this Article,

(b)a means of payment that:

(i)must be settled physically otherwise than by reason of a default or other termination event;

(ii)is entered into by at least a person which is not a financial counterparty within the meaning of Article 2(8) of Regulation (EU) No. 648/2012 of the European Parliament and of the Council;

(iii)is entered into in order to facilitate payment for identifiable goods, services or direct investment; and

(iv)is not traded on a trading venue.

2.A spot contract for the purposes of paragraph 1 shall be a contract for the exchange of one currency against another currency, under the terms of which delivery is scheduled to be made within the longer of the following periods:

(a)2 trading days in respect of any pair of the major currencies set out in paragraph 3;

(b)for any pair of currencies where at least one currency is not a major currency, the longer of 2 trading days or the period generally accepted in the market for that currency pair as the standard delivery period;

(c)where the contract for the exchange of those currencies is used for the main purpose of the sale or purchase of a transferable security or a unit in a collective investment undertaking, the period generally accepted in the market for the settlement of that transferable security or a unit in a collective investment undertaking as the standard delivery period or 5 trading days, whichever is shorter.

A contract shall not be considered a spot contract where, irrespective of its explicit terms, there is an understanding between the parties to the contract that delivery of the currency is to be postponed and not to be performed within the period set out in the first subparagraph.

3.The major currencies for the purposes of paragraph 2 shall only include the US dollar, Euro, Japanese yen, Pound sterling, Australian dollar, Swiss franc, Canadian dollar, Hong Kong dollar, Swedish krona, New Zealand dollar, Singapore dollar, Norwegian krone, Mexican peso, Croatian kuna, Bulgarian lev, Czech koruna, Danish krone, Hungarian forint, Polish złoty and Romanian leu.

4.For the purposes of paragraph 2, a trading day shall mean any day of normal trading in the jurisdiction of both the currencies that are exchanged pursuant to the contract for the exchange of those currencies and in the jurisdiction of a third currency where any of the following conditions are met:

(a)the exchange of those currencies involves converting them through that third currency for the purposes of liquidity;

(b)the standard delivery period for the exchange of those currencies references the jurisdiction of that third currency.

Article 11Money-market instruments

[F986(1)F986]Money-market instrumentsF987... shall include treasury bills, certificates of deposits, commercial papers and other instruments with substantively equivalent features where they have the following characteristics:

(a)they have a value that can be determined at any time;

(b)they are not derivatives;

(c)they have a maturity at issuance of 397 days or less.

[F988(2)For the purposes of this Article, “money market instruments” means those classes of instruments which are normally dealt with on the money market, such as treasury bills, certificates of deposit and commercial papers and excluding instruments of payment.F988,F962]]

PART 3SECTION A OF ANNEX I TO THE MARKETS IN FINANCIAL INSTRUMENTS DIRECTIVE

“Investment services and activities

1.Reception and transmission of orders in relation to one or more financial instruments.

2.Execution of orders on behalf of clients.

3.Dealing on own account.

4.Portfolio management.

5.Investment advice.

6.Underwriting of financial instruments and/or placing of financial instruments on a firm commitment basis.

7.Placing of financial instruments without a firm commitment basis.

8.Operation of [F989an MTFF989].

[F9909.Operation of an OTF.F990]”

[F991PART 3AANCILLARY SERVICES

2.Granting credits or loans to an investor to allow the investor to carry out a transaction in one or more financial instruments, where the firm granting the credit or loan is involved in the transaction.

4.Foreign exchange services where these are connected to the provision of investment services.

5.Investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments.

6.Services relating to underwriting.

[F992PART 4Article 9 of the Commission Regulation

Article 9Investment advice

[F993For the purposes of the list of investment services and activities in Part 3 of this Schedule, “investment advice” means the provision of personal recommendations to a client, either upon its request or at the initiative of the investment firm, in respect of one or more transactions relating to financial instruments. For these purposesF993], a personal recommendation shall be considered a recommendation that is made to a person in his capacity as an investor or potential investor, or in his capacity as an agent for an investor or potential investor.

That recommendation shall be presented as suitable for that person, or shall be based on a consideration of the circumstances of that person, and shall constitute a recommendation to take one of the following sets of steps:

(a)to buy, sell, subscribe for, exchange, redeem, hold or underwrite a particular financial instrument;

(b)to exercise or not to exercise any right conferred by a particular financial instrument to buy, sell, subscribe for, exchange, or redeem a financial instrument.

A recommendation shall not be considered a personal recommendation if it is issued exclusively to the public.F992,F946]]

[F994PART 5Interpretation

Any expression in this Schedule which is used in the markets in financial instruments regulation (as amended by the Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018) has the same meaning as in the Regulation.F994]

Article 3(1)

[F995SCHEDULE 3Exemptions from the definition of “investment firm”

PART 1

1.The following persons are excluded from the definition of “investment firm”—

(a)the society incorporated by Lloyd's Act 1871 M28 known by the name of Lloyd's;

(b)an authorised person with a Part 4A permission to carry on the regulated activity of—

(i)effecting or carrying out contracts of insurance under article 10;

(ii)insurance risk transformation under article 13A;

(iii)managing the underwriting capacity of a Lloyd's syndicate under article 57,

when carrying on those activities (and any other activities permitted by rules made by the FCA or the PRA under the Act);

F996(ba). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(c)a person (“P”) providing investment services exclusively for P's parent undertakings, for P's subsidiaries or for other subsidiaries of P's parent undertakings;

(d)a person providing an investment service where that service is provided in an incidental manner in the course of a professional activity and that activity is regulated by legal or regulatory provisions or a code of ethics governing the profession which do not exclude the provision of that service;

(e)a person dealing on own account in financial instruments other than commodity derivatives or emission allowances or derivatives thereof and not providing any other investment services or performing any other investment activities in financial instruments other than commodity derivatives or emission allowances or derivatives thereof unless such persons—

(i)are market makers;

(ii)are members of or participants in a regulated market or an MTF, on the one hand, or have direct electronic access to a trading venue, on the other hand, except for non-financial entities who execute transactions on a trading venue which are objectively measurable as reducing risks directly relating to the commercial activity or treasury financing activity of those non-financial entities or their groups;

(iii)apply a high-frequency algorithmic trading technique; or

(iv)deal on own account when executing client orders;

(f)an operator (within the meaning of regulation 3(2) of the Greenhouse Gas Emissions Trading Scheme Regulations 2012M29), subject to compliance obligations under those Regulations who, when dealing in emission allowances, does not execute client orders and does not provide any investment services or perform any investment activities other than dealing on own account, provided that the operator does not apply a high-frequency algorithmic trading technique;

(g)a person providing investment services consisting exclusively in the administration of employee-participation schemes;

(h)a person (“P”) providing investment services which only involve both the administration of employee-participation schemes and the provision of investment services exclusively for P's parent undertakings, for P's subsidiaries or for other subsidiaries of P's parent undertakings;

(i)the Treasury, the Bank of England and other public bodies charged with or intervening in the management of the public debt in the United Kingdom or members of the European System of Central Banks;

(j)a collective investment undertaking, pension fund or a depositary or manager of such an undertaking or fund;

(k)a person (“P”)—

(i)dealing on own account, including a market maker, in commodity derivatives or emission allowances or derivatives thereof, excluding a person who deals on own account when executing client orders; or

(ii)providing investment services, other than dealing on own account, in commodity derivatives or emission allowances or derivatives thereof to the customers or suppliers of P's main business,

provided that in each case the activity in (i) or (ii), considered both individually and on an aggregate basis, is an ancillary activity to P's main business, when considered on a group basis, and where paragraph 2 applies;

(l)a person who provides investment advice in the course of providing another professional activity which is not an investment service or activity provided that the provision of such advice is not specifically remunerated;

(m)associations set up by Danish and Finnish pension funds with the sole aim of managing the assets of pension funds that are members of those associations;

(n)agenti di cambio whose activities and functions are governed by Article 201 of Italian Legislative Decree No 58 of 24 February 1998;

(o)subject to paragraph 3, transmission system operators within the meaning of Article 2(4) of Directive 2009/72/EC and Article 2(4) of Directive 2009/73/EC when carrying out their tasks under the law of the United Kingdom or part of the United Kingdom relied on by the United Kingdom immediately before IP completion day to implement Directive 2009/72/EC or 2009/73/EC, under Regulation (EC) No 714/2009, under Regulation (EC) No 715/2009 or under network codes or guidelines adopted pursuant to those Regulations, any persons acting as service providers on their behalf to carry out their task under those legislative acts or under network codes or guidelines adopted pursuant to those Regulations, and any operator or administrator of an energy balancing mechanism, pipeline network or system to keep in balance the supplies and uses of energy when carrying out such tasks;

(p)central securities depositories as defined in point (1) of Article 2(1) of Regulation (EU) 909/2014 on the European Parliament and of the Council on improving securities settlement in the European Union and on central securities depositories, except as provided for in Article 73 of that Regulation.

2.This paragraph applies if—

(a)P's main business is not—

(i)the provision of investment services;

(ii)banking activities requiring permission under Part 4A of the Act (or banking activities which would require such permission if they were carried on in the United Kingdom); or

(iii)acting as a market-maker in relation to commodity derivatives;

(b)P does not apply a high-frequency algorithmic trading technique; and

(c)[F997P reports to the FCA under regulation 47 of the Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017F997], upon request, the basis on which P considers that P's activity under points (i) and (ii) is ancillary to P's main business.

3.The exemption in paragraph 1(p)—

(a)only applies to the persons engaged in the activities set out in that sub-paragraph where they perform investment activities or provide investment services relating to commodity derivatives in order to carry out those activities;

(b)does not apply with regard to the operation of a secondary market, including a platform for secondary trading in financial transmission rights.

4.References in this Schedule to “regulated markets”, “MTFs” and “trading venues” are to “UK regulated markets”, “UK MTFs” and “UK trading venues” within the meaning of Article 2(1)(13A), (14A) and (16A) respectively of the markets in financial instruments regulation.

5.Any expression used in this Part of this Schedule which is used in the markets in financial instruments regulation (as amended by the Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018) has the same meaning as in the regulation.

PART 2Provision of investment service in an incidental manner

6.For the purpose of the exemption in paragraph 1(d), an investment service shall be deemed to be provided in an incidental manner in the course of a professional activity where the following conditions are satisfied—

(a)a close and factual connection exists between the professional activity and the provision of the investment service to the same client, such that the investment service can be regarded as accessory to the main professional activity;

(b)the provision of investment services to the clients of the main professional activity does not aim to provide a systematic source of income to the person providing the professional activity; and

(c)the persons providing the professional activity do not market or otherwise promote their ability to provide investment services, except where these are disclosed to clients as being accessory to the main professional activity.F995]

Article 4

F998SCHEDULE 4Relevant Text of the Insurance Distribution Directive

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Article 60LB

[F999SCHEDULE 4AMEANING OF “BORROWER” IN RELATION TO GREEN DEAL CREDIT AGREEMENTS

Article of this OrderReferences to “borrower” are to be read as references to the—
Article 36Bimprover
Article 36Himprover
Article 36Jimprover
Article 39D

current bill payer

previous bill payer

Article 39E

current bill payer

previous bill payer

Article 39M

current bill payer

previous bill payer

Article 60Cimprover
Article 60Himprover
Article 60L, so far as relating to definitions of “deposit” and “security”improver
Article 60LA

improver

first bill payer

current bill payer

previous bill payer

Article 60M

improver

first bill payer

current bill payer

previous bill payerF999]

Article 63R

F1000SCHEDULE 5SPECIFIED BENCHMARKS

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Article 51ZA

F1001SCHEDULE 6FUNCTIONS INCLUDED IN THE ACTIVITY OF MANAGING A UCITS: ANNEX II TO THE UCITS DIRECTIVE

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Article 51ZC

[F1002SCHEDULE 7ADDITIONAL ACTIVITIES INCLUDED IN THE ACTIVITY OF MANAGING AN AIF LISTED IN PARAGRAPH 2 OF ANNEX I TO THE ALTERNATIVE INVESTMENT FUND MANAGERS DIRECTIVE

(a)Administration—

(i)legal and fund management accounting services;

(ii)customer inquiries;

(iii)valuation and pricing, including tax returns;

(iv)regulatory compliance monitoring;

(v)maintenance of unit-/shareholder register;

(vi)distribution of income;

(vii)unit/shares issues and redemptions;

(viii)contract settlements, including certificate dispatch;

(ix)record keeping:

(b)Marketing;

(c)Activities related to the assets of AIFs, namely services necessary to meet the fiduciary duties of the AIFM, facilities management, real estate administration activities, advice to undertakings on capital structure, industrial strategy and related matters, advice and services related to mergers and the purchase of undertakings and other services connected to the management of the AIF and the companies and other assets in which it has invested.

Article 51ZF

SCHEDULE 8PERSONS EXCLUDED FROM REGULATED ACTIVITY OF MANAGING AN AIF

Interpretation of this Schedule

1.Any expression used in this Schedule which is used in the alternative investment fund managers directive[F1003, and not referred to in paragraph 1B,F1003] has the same meaning as in that directive.

[F10041A.For the purposes of paragraph 1, in Article 4(1)(o) of the alternative investment fund managers directive (definition of “holding company”) the reference to the Union is to be read as a reference to the United Kingdom.F1004]

[F10041B.In this Schedule—

“parent undertaking” has the meaning given by section 1162 of the Companies Act 2006M30 (read with Schedule 7 to that Act);

“subsidiary” has the meaning given to “subsidiary undertaking” by that section (read with that Schedule).F1004]

Persons excluded

2.A small registered UKAIFM, in respect of the AIFs managed by it by virtue of which it is entitled to be registered as a small registered UKAIFM (but not in respect of any other AIFs managed by it).

3.An AIFM in so far as it manages one or more AIFs whose only investors are—

(a)the AIFM,

(b)the parent undertakings of the AIFM,

(c)the subsidiaries of the AIFM, or

(d)other subsidiaries of those parent undertakings,

provided that none of the investors is an AIF.

[F10054.The trustees and managers of an occupational pension scheme within the meaning of section 1(1) of the Pension Schemes Act 1993F1006.F1005]

5.F1007... The European Investment Bank, the European Investment Fund, a bilateral development bank, the World Bank, the International Monetary Fund [F1008or any otherF1008] supranational institution or similar international organisation, F1009... in the event that such institution or organisation manages AIFs and in so far as those AIFsact in the public interest.

6.A national central bank.

7.A national, regional or local government or body or other institution which manages funds supporting social security and pension systems.

8.A holding company.

9.An employee participation scheme or employee savings scheme.

10.A securitisation special purpose entity.

[F101011.An AIFM, the registered office of which is not in [F1011the United KingdomF1011][F1012, that is registered in the United Kingdom in accordance with [F1013Part 3 of the Alternative Investment Fund Managers Regulations 2013F1013,F1012]].F1010,F1002]]

Status: There are currently no known outstanding effects for The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001.
The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (2001/544)

Displaying information

Status of this instrument

footnotecommentarytransitional and savingsin force statusrelated provisionsgeo extentinsert/omitsource countin force adj
C1Art. 3 applied (21.5.2003) by The Financial Services and Markets Act 2000 (Collective Investment Schemes) (Designated Countries and Territories) Order 2003 (S.I. 2003/1181), arts. 1, 3(2)(a)
C2Art. 7(1) applied (with modifications) (E.W.S.) (23.12.2011) by The Legal Services Act 2007 (Designation as a Licensing Authority) (No. 2) Order 2011 (S.I. 2011/2866), arts. 1(2), 8(3), Sch. 3
C3Art. 22 modified (31.10.2001) by The Financial Services and Markets Act 2000 (Interim Permissions) Order 2001 (S.I. 2001/3374), art. 1, Sch. para. 10 (with Sch. para. 4)
C4Art. 22 modified (31.10.2004) by The Financial Services and Markets Act 2000 (Transitional Provisions) (Mortgages) Order 2004 (S.I. 2004/2615), art. 1(2)(b), Sch. para. 11 (with Sch. para. 4)
C5Art. 22 modified (14.1.2005) by The Financial Services and Markets Act 2000 (Transitional Provisions) (General Insurance Intermediaries) Order 2004 (S.I. 2004/3351), art. 1(2)(b), Sch. para. 10(1) (with Sch. para. 4)
C6Art. 22 modified (6.4.2007) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2006 (S.I. 2006/1969), art. 1(3), Sch. para. 11 (with Sch. para. 4)
C7Art. 29 modified (31.10.2001) by The Financial Services and Markets Act 2000 (Interim Permissions) Order 2001 (S.I. 2001/3374), art. 1, Sch. para. 11 (with Sch. para. 4)
C8Art. 29 modified (31.10.2004) by The Financial Services and Markets Act 2000 (Transitional Provisions) (Mortgages) Order 2004 (S.I. 2004/2615), art. 1(2)(b), Sch. para. 11 (with Sch. para. 4)
C9Art. 29 modified (14.1.2005) by The Financial Services and Markets Act 2000 (Transitional Provisions) (General Insurance Intermediaries) Order 2004 (S.I. 2004/3351), art. 1(2)(b), Sch. para. 10(2) (with Sch. para. 4)
C10Art. 29 modified (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), art. 1(2), Sch. para. 9
C11Art. 29 modified (6.4.2007) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2006 (S.I. 2006/1969), art. 1(3), Sch. para. 12 (with Sch. para. 4)
C12Art. 29 modified (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), art. 1(2), Sch. para. 8
C13Art. 29A(2)(a) applied (with modifications) (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), art. 1(2), Sch. para. 10
C14Art. 29A(3)(a) applied (with modifications) (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), art. 1(2), Sch. para. 10
C15Art. 29A(4)(a) modified (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), art. 1(2), Sch. para. 9
C16Art. 35 extended (1.12.2001) by The Financial Services and Markets Act 2000 (Transitional Provisions) (Authorised Persons etc.) Order 2001 (S.I. 2001/2636), arts. 1(2)(b), 2(1), 80; S.I. 2001/3538, art. 2(1)
C17Art. 42A applied (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), regs. 1, 76(6)
C18Art. 60C(2)(c) applied (with modifications) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910), art. 31A(3) (as inserted (17.3.2016 for specified purposes, 21.3.2016 in so far as not already in force) by S.I. 2016/392, art. 1(2)(3)(c), 8(6) (with Pt. 5))
C19Art. 60C(5)(6) applied by S.I. 2005/1529, Sch. 1 para. 4C(7) (as 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), art. 1(2)(6), 17(6)(a))
C20Art. 60C(5)(6) applied by 1974 c. 39, s. 55C(5) (as 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), 20(23))
C21Art. 60C(5)(6) applied by 1974 c. 39, s. 60(6) (as 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), art. 1(2)(6), 20(24))
C22Art. 60C(5)(6) applied by 1974 c. 39, s. 61A(7) (as 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), art. 1(2)(6), 20(25))
C23Art. 60C(5)(6) applied by 1974 c. 39, s. 75A(7) (as 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), 20(28))
C24Art. 60C(5)(6) applied by 1974 c. 39, s. 77B(10) (as 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), 20(29))
C25Art. 60C(5)(6) applied by S.I. 1983/1553, reg. 8(1B) (as 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), art. 1(2)(6), 23(4))
C26Art. 60C(5)(6) applied by S.I. 2010/1013, reg. 2(6) (as 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), art. 1(2)(6), 26(4))
C27Art. 60C(5)(6) applied by S.I. 2010/1013, reg. 6(3) (as 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), art. 1(2)(6), 26(6))
C28Art. 60C(5)(6) applied by S.I. 2010/1014, reg. 2(6) (as 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), art. 1(2)(6), 27(4))
C29Art. 72 modified in part (31.10.2001) by The Financial Services and Markets Act 2000 (Interim Permissions) Order 2001 (S.I. 2001/3374), art. 1, Sch. para. 12 (with Sch. para. 4)
C30Art. 72 modified in part (31.10.2004) by The Financial Services and Markets Act 2000 (Transitional Provisions) (Mortgages) Order 2004 (S.I. 2004/2615), art. 1(2)(b), Sch. para. 12 (with Sch. para. 4)
C31Art. 72 modified in part (14.1.2005) by The Financial Services and Markets Act 2000 (Transitional Provisions) (General Insurance Intermediaries) Order 2004 (S.I. 2004/3351), art. 1(2)(b), Sch. para. 11 (with Sch. para. 4)
C32Art. 72 modified in part (6.4.2007) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2006 (S.I. 2006/1969), art. 1(3), Sch. para. 13 (with Sch. para. 4)
C33Art. 72AA excluded by S.I. 2013/1773, reg. 74(4) (as substituted (16.6.2014) by The Alternative Investment Fund Managers Order 2014 (S.I. 2014/1292), arts. 1(2), 4(6)(b) (as amended by S.I. 2014/1313, arts. 1, 2(a)))
C34Art. 72AA excluded by S.I. 2013/1773, reg. 75(2A) (as inserted (16.6.2014) by The Alternative Investment Fund Managers Order 2014 (S.I. 2014/1292), arts. 1(2), 4(7)(b) (as amended by S.I. 2014/1313, arts. 1, 2(a)))
C35Art. 84 applied (1.12.2001) by The Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (S.I. 2001/1335), reg. 1(2), Sch. 1 para. 22(3); S.I. 2001/3538, art. 2(1)
C36Sch. 1 applied in part (1.12.2001) by The Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (S.I. 2001/1335), art. 25(2), reg. 1(2); S.I. 2001/3538, art. 2(1)
C37Sch. 1 applied in part (1.12.2001) by The Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (S.I. 2001/1335), art. 10(2), reg. 1(2); S.I. 2001/3538, art. 2(1)
F1Words in art. 2(2)(b) substituted (30.8.2002) by The Financial Services and Markets Act 2000 (Commencement of Mortgage Regulation) (Amendment) Order 2002 (S.I. 2002/1777), arts. 1, 2(2)substituted
F2Art. 2(3) inserted (30.8.2002) by The Financial Services and Markets Act 2000 (Commencement of Mortgage Regulation) (Amendment) Order 2002 (S.I. 2002/1777), arts. 1, 2(3)inserted
F3Words in art. 3(1) 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), art. 1(3)(4), 2(2)(a)inserted
F4Words in art. 3(1) inserted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 3(1)(a)inserted
F5Words in art. 3(1) inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(2)(b)inserted
F6Words in art. 3(1) substituted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 3(2)(b)substituted
F7Words in art. 3(1) 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), arts. 1(2), 2(12)inserted
F8Words in art. 3(1) 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), art. 1(2)(6), 3(1)inserted
F9Words in art. 3(1) inserted (20.7.2012) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2012 (S.I. 2012/1906), arts. 1, 2(2)(b)inserted
F10Words in art. 3(1) inserted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 3(2)(c)inserted
F11Word in art. 3(1) substituted (E.W.S.) (15.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 3(2)(a)(i) (with art. 1(3))this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary.substituted: England, Wales and Scotlandsubstituted
F12Words in art. 3(1) inserted (E.W.S.) (15.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 3(2)(a)(ii) (with art. 1(3))this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted: England, Wales and Scotlandinserted
F13Words in art. 3(1) substituted (17.3.2016) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(a), 2(2)(a) (with Pt. 5)substituted
F14Words in art. 3(1) inserted (E.W.S.) (15.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 3(2)(b) (with art. 1(3))this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted: England, Wales and Scotlandinserted
F15Words in art. 3(1) inserted (5.12.2005) by The Civil Partnership Act 2004 (Amendments to Subordinate Legislation) Order 2005 (S.I. 2005/2114), reg. 1, Sch. 16 para. 1(2)inserted
F16Words in art. 3(1) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 3(b)inserted
F17Words in art. 3(1) substituted (1.4.2017 for specified purposes, 3.1.2018 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2017 (S.I. 2017/488), arts. 1(2), 2(2)substituted
F18Words in art. 3(1) substituted (1.1.2016) by The Solvency 2 Regulations 2015 (S.I. 2015/575), reg. 1(2), Sch. 2 para. 11(2)(a)substituted
F19Words in art. 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), 121(3) (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
F20Words in art. 3 omitted (28.1.2021 for specified purposes, 30.7.2022 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2021 (S.I. 2021/90), arts. 1(2)(3), 2(2)omitted
F21Words in art. 3(1) substituted (E.W.S.) (15.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 3(3) (with art. 1(3))this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary.substituted: England, Wales and Scotlandsubstituted
F22Words in art. 3(1) 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), 121(2) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/1212, regs. 1(3), 22(3) and S.I. 2020/1385, regs. 1(4), 57(2)); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.omitted
F23Words in art. 3 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), art. 1(2)(6), 3(2)inserted
F24Words in art. 3(1) omitted (21.7.2022) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2022 (S.I. 2022/726), arts. 1(2), 2(2)omitted
F25Words in art. 3(1) substituted (9.2.2011 for specified purposes, 30.4.2011 in so far as not already in force) by The Electronic Money Regulations 2011 (S.I. 2011/99), reg. 1(2), Sch. 4 para. 12(a)(ii) (with reg. 3)this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary.substituted
F26Words in art. 3(1) omitted (1.11.2024) by virtue of The Securitisation (Amendment) Regulations 2024 (S.I. 2024/705), reg. 1(3), Sch. 2 para. 3(2)(a)omitted
F27Words in art. 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), 121(4) (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
F28Words in art. 3(1) 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), arts. 1(2), 2(4)substituted
F29Words in art. 3(1) inserted (E.W.S.) (15.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 3(4) (with art. 1(3))this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted: England, Wales and Scotlandinserted
F30Words in art. 3(1) inserted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 3(2)(d)inserted
F31Words in art. 3(1) 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), 121(5) (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
F32Words in art. 3(1) 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), 3(1)(a)inserted
F33Words in art. 3(1) inserted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 121(5) (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.inserted
F34Words in art. 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), 121(6) (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
F35Word in art. 3(1) substituted (E.W.S.) (15.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 3(5)(a)(i) (with art. 1(3))this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary.substituted: England, Wales and Scotlandsubstituted
F36Words in art. 3(1) inserted (E.W.S.) (15.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 3(5)(a)(ii) (with art. 1(3))this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted: England, Wales and Scotlandinserted
F37Words in art. 3(1) substituted (17.3.2016) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(a), 2(2)(b) (with Pt. 5)substituted
F38Words in art. 3(1) inserted (E.W.S.) (15.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 3(5)(b) (with art. 1(3))this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted: England, Wales and Scotlandinserted
F39Words in art. 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), 121(7) (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
F40Words in art. 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), 121(8) (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 art. 3(1) inserted (31.12.2020 immediately before IP completion day) by The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 (S.I. 2020/1385), regs. 1(4), 40(3)inserted
F42Word in art. 3(1) substituted (27.2.2025) by The Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendments) Regulations 2025 (S.I. 2025/82), reg. 1(2), Sch. 9 para. 1(a)(ii)substituted
F43Words in art. 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), 121(9) (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
F44Words in art. 3(1) substituted (1.10.2006 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) Order 2006 (S.I. 2006/1969), arts. 1(2), 2(2)(a)substituted
F45Words in art. 3(1) substituted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 3(2)(e)substituted
F46Words in art. 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), 121(10) (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
F47Word in art. 3(1) 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), 3(a)inserted
F48Words in art. 3(1) 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), 3(1)(b)(i)inserted
F49Word in art. 3(1) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 3(a)inserted
F50Words in art. 3(1) 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), arts. 1(2), 2(10)inserted
F51Word in art. 3(1) inserted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 3(1)(c)(i)inserted
F52Word in art. 3(1) 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), 3(1)(a)inserted
F53Words in art. 3(1) substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(2)(a)substituted
F54Words in art. 3(1) substituted (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), 3(b)substituted
F55Words in art. 3(1) 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), 3(1)(b)(ii)substituted
F56Word in art. 3(1) inserted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 3(1)(c)(ii)inserted
F57Words in art. 3(1) substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 3(1)(c)(iii)substituted
F58Words in art. 3(1) substituted (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), arts. 1(2), 13(2)substituted
F59Words in art. 3(1) 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), art. 1(3)(4), 2(2)(b)inserted
F60Words in art. 3(1) inserted (1.10.2006 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) Order 2006 (S.I. 2006/1969), arts. 1(2), 2(2)(b)inserted
F61Words in art. 3(1) 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), 3(1)(c)inserted
F62Words in art. 3(1) inserted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 121(11) (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.inserted
F63Words in art. 3(1) omitted (6.6.2007) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2007 (S.I. 2007/1339), arts. 1, 3omitted
F64Words in art. 3(1) inserted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 3(2)(f)inserted
F65Words in art. 3(1) 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), 3(1)(d)inserted
F66Words in art. 3(1) inserted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 3(1)(b)inserted
F67Words in art. 3(1) 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), 3(1)(b)inserted
F68Words in art. 3(1) 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), 3(1)(e)inserted
F69Words in art. 3 inserted (1.1.2019) by The Securitisation Regulations 2018 (S.I. 2018/1288), reg. 1, Sch. 2 para. 2(2)inserted
F70Words in art. 3(1) substituted (1.11.2024) by The Securitisation (Amendment) Regulations 2024 (S.I. 2024/705), reg. 1(3), Sch. 2 para. 3(2)(b)substituted
F71Words in art. 3(1) 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), arts. 1(2), 2(11)inserted
F72Words in art. 3(1) inserted (6.4.2005) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2005 (S.I. 2005/593), arts. 1, 2(2)(b)inserted
F73Words in art. 3(1) substituted (13.7.2016) by The Financial Services and Markets Act 2000 (Transparency of Securities Financing Transactions and of Reuse) Regulations 2016 (S.I. 2016/715), reg. 1(2), Sch. 2 para. 1(2)substituted
F74Words in art. 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), 121(12) (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
F75Words in art. 3(1) inserted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 3(2)(a)inserted
F76Words in art. 3(1) inserted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 121(13) (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.inserted
F77Art. 3(1A) inserted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 121(14) (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.inserted
F78Words in art. 3(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), 3(2)inserted
F79Words in art. 3(2) substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 3(2)substituted
F80Art. 3(4) inserted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 121(15) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/1212, regs. 1(3), 22(3) and S.I. 2020/1301, regs. 1, 3, Sch. para. 33(l)); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.inserted
F81Words in art. 4(1) 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), art. 1(2)(6), 3(3)(a)substituted
F82Words in art. 4(2) substituted (13.7.2009) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2009 (S.I. 2009/1389), arts. 1, 3substituted
F83Words in art. 4(2) substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(3)substituted
F84Art. 4(2A) 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), art. 1(2)(6), 3(3)(b)inserted
F85Art. 4(2B) inserted (E.W.S.) (29.11.2018 for specified purposes, 1.4.2019 in so far as not already in force) by The Financial Services and Markets Act 2000 (Claims Management Activity) Order 2018 (S.I. 2018/1253), art. 1(2)(3), 4inserted: England, Wales and Scotlandinserted
F86Art. 4(4) substituted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 4(a)substituted
F87Words in art. 4(4) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 122(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.substituted
F88Word in art. 4(4)(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), arts. 1(2), 12(2)(a)inserted
F89Word in art. 4(4)(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), arts. 1(2), 12(2)(b)inserted
F90Art. 4(4A) substituted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 3(a)substituted
F91Words in art. 4(4A) omitted (1.1.2025) by virtue of The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Regulations 2024 (S.I. 2024/1239), regs. 1(2), 5(2)(a)omitted
F92Words in art. 4(4A)(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), 122(3) (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
F93Art. 4(4AA) inserted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 122(4) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/1212, regs. 1(3), 22(3) and S.I. 2020/1301, regs. 1, 3, Sch. para. 33(m)(i)); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.inserted
F94Art. 4(4B) 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. 4(3) (with Pt. 4)inserted
F95Words in art. 4(4B)(b) inserted (17.3.2016 for specified purposes, 21.3.2016 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), art. 1(2)(3)(c), 2(3) (with Pt. 5)inserted
F96Words in art. 4(4B) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 122(5) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/1212, regs. 1(3), 22(3) and S.I. 2020/1301, regs. 1, 3, Sch. para. 33(m)(ii)); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F97Art. 4(5) substituted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 3(b)substituted
F98Words in art. 4(5) omitted (1.1.2025) by virtue of The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Regulations 2024 (S.I. 2024/1239), regs. 1(2), 5(2)(b)(i)omitted
F99Words in art. 4(5) substituted (1.1.2025) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Regulations 2024 (S.I. 2024/1239), regs. 1(2), 5(2)(b)(ii)substituted
F100Words in art. 4(5) substituted (1.1.2025) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Regulations 2024 (S.I. 2024/1239), regs. 1(2), 5(2)(b)(iii)substituted
F101Words in art. 5(2) substituted (27.4.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2002 (S.I. 2002/682), arts. 1(2)(b), 3(1)substituted
F102Words in art. 6(1)(a)(i) 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), 123(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
F103Art. 6(1)(a)(iii) omitted (31.12.2020) by virtue of The EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018 (S.I. 2018/1149), reg. 1(3), Sch. para. 49(2) (with reg. 4); 2020 c. 1, Sch. 5 para. 1(1)this amendment (text omitted) should be read in conjunction with other related provisions, see the commentary.omitted
F104Art. 6(1)(a)(iv) substituted (29.12.2020) by The Financial Holding Companies (Approval etc.) and Capital Requirements (Capital Buffers and Macro-prudential Measures) (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1406), regs. 1(4), 3 (with reg. 5)this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary.substituted
F105Art. 6(1)(a)(x) 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), 123(3) (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
F106Art. 6(1)(a)(xx) substituted (5.6.2002) by The Financial Services and Markets Act 2000 (Financial Promotion and Miscellaneous Amendments) Order 2002 (S.I. 2002/1310), arts. 1, 4(1)substituted
F107Word in art. 7(2)(c) inserted (31.12.2020) by S.I. 2019/710, reg. 6(a)(i) (as substituted by The Services of Lawyers and Lawyer’s Practice (Revocation etc.) (EU Exit) Regulations 2020 (S.I. 2020/1342), reg. 1(3), Sch. para. 19 (with Sch. para. 13))this amendment (text inserted, substituted) should be read in conjunction with other related provisions, see the commentary.inserted, substituted
F108Words in art. 7(2)(d) substituted (31.12.2020) by S.I. 2019/710, reg. 6(a)(ii) (as substituted by The Services of Lawyers and Lawyer’s Practice (Revocation etc.) (EU Exit) Regulations 2020 (S.I. 2020/1342), reg. 1(3), Sch. para. 19 (with Sch. para. 13))this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary.substituted
F109Art. 7(2)(e) and word omitted (31.12.2020) by virtue of S.I. 2019/710, reg. 6(a)(iii) (as substituted by The Services of Lawyers and Lawyer’s Practice (Revocation etc.) (EU Exit) Regulations 2020 (S.I. 2020/1342), reg. 1(3), Sch. para. 19 (with Sch. para. 13))this amendment (text omitted, substituted) should be read in conjunction with other related provisions, see the commentary.omitted, substituted
F110Word in art. 7(3)(c) omitted (31.12.2020) by virtue of S.I. 2019/710, reg. 6(b)(i) (as substituted by The Services of Lawyers and Lawyer’s Practice (Revocation etc.) (EU Exit) Regulations 2020 (S.I. 2020/1342), reg. 1(3), Sch. para. 19 (with Sch. para. 13))this amendment (text omitted, substituted) should be read in conjunction with other related provisions, see the commentary.omitted, substituted
F111S.I. 2000/1119.
F112Scottish Statutory Instruments 2000 No. 121.
F113Word in art. 7(3)(d) inserted (31.12.2020) by S.I. 2019/710, reg. 6(b)(ii) (as substituted by The Services of Lawyers and Lawyer’s Practice (Revocation etc.) (EU Exit) Regulations 2020 (S.I. 2020/1342), reg. 1(3), Sch. para. 19 (with Sch. para. 13))this amendment (text inserted, substituted) should be read in conjunction with other related provisions, see the commentary.inserted, substituted
F114Art. 7(3)(e) inserted by S.I. 2019/710, reg. 6(b)(iii) (as substituted by The Services of Lawyers and Lawyer’s Practice (Revocation etc.) (EU Exit) Regulations 2020 (S.I. 2020/1342), reg. 1(3), Sch. para. 19 (with Sch. para. 13))this amendment (text inserted, substituted) should be read in conjunction with other related provisions, see the commentary.inserted, substituted
F115Words in art. 8(a) substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(3)substituted
F116Words in art. 8 substituted (1.12.2001) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2001 (S.I. 2001/3544), arts. 1(a), 3substituted
F117Art. 9(3) substituted (27.4.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2002 (S.I. 2002/682), arts. 1(2)(b), 12substituted
F118Art. 9A inserted (27.4.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2002 (S.I. 2002/682), arts. 1(2)(b), 3(2)inserted
F119Art. 9AA inserted (21.8.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2002 (S.I. 2002/1776), arts. 1, 3(2)inserted
F120Words in art. 9AA heading omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(a)(iii) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F121Words in art. 9AA heading inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(4)(a)inserted
F122Word in art. 9AA substituted (31.12.2020) by The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(a)(i) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)substituted
F123Words in art. 9AA omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(a)(ii) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F124Words in art. 9AA inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(4)(c)inserted
F125Words in art. 9AA substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 148(2)(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
F126Art. 9AB inserted (1.11.2009) by The Payment Services Regulations 2009 (S.I. 2009/209), reg. 1(2)(c), Sch. 6 para. 4(a)inserted
F127Words in art. 9AB(1) substituted (9.2.2011 for specified purposes, 30.4.2011 in so far as not already in force) by The Electronic Money Regulations 2011 (S.I. 2011/99), reg. 1(2), Sch. 4 para. 12(b)(i) (with reg. 3)this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary.substituted
F128Word in art. 9AB(2) substituted (13.1.2018) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(6), Sch. 8 para. 8(a) (with reg. 3)this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary.substituted
F129Words in art. 9AB(2) inserted (9.2.2011 for specified purposes, 30.4.2011 in so far as not already in force) by The Electronic Money Regulations 2011 (S.I. 2011/99), reg. 1(2), Sch. 4 para. 12(b)(ii) (with reg. 3)this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted
F130Art. 9AC 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), art. 1(3)(4), 2(3)inserted
F131Pt. 2 Ch. 2A inserted (11.4.2002 for specified purposes, 27.4.2002 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2002 (S.I. 2002/682), arts. 1(2), 4 (with arts. 9, 10)this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted
F132Art. 9B(a)(b) and word inserted (9.2.2011 for specified purposes, 30.4.2011 in so far as not already in force) by The Electronic Money Regulations 2011 (S.I. 2011/99), reg. 1(2), Sch. 4 para. 12(c) (with reg. 3)this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted
F133Words in art. 9B(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), 124 (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
F134Art. 9BA inserted (9.2.2011 for specified purposes, 30.4.2011 in so far as not already in force) by The Electronic Money Regulations 2011 (S.I. 2011/99), reg. 1(2), Sch. 4 para. 12(d) (with reg. 3)this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted
F135Words in art. 9C(1) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(a)substituted
F136Words in art. 9C(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), 125 (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
F137Words in art. 9C(3) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(b)substituted
F138Words in art. 9C(3) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(a)substituted
F139Words in art. 9D substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(a)substituted
F140Art. 9D(a)-(d) substituted for art. 9D(a)-(c) (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(c)substituted
F141Word in art. 9E heading substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(d)(i)substituted
F142Words in art. 9E(1) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(a)substituted
F143Words in art. 9E(3) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(d)(ii)(aa)substituted
F144Words in art. 9E(3) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(d)(ii)(bb)substituted
F145Words in art. 9F substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(a)substituted
F146Words in art. 9G(1) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(a)substituted
F147Words in art. 9G(2) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(e)(i)substituted
F148Words in art. 9G(3) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(e)(ii)substituted
F149Words in art. 9G(4) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(a)substituted
F150Words in art. 9G(6) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(e)(iii)substituted
F151Art. 9G(7)(a) omitted (1.4.2013) by virtue of The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(e)(iv)omitted
F152Words in art. 9G(8) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(a)substituted
F153Words in art. 9H(1) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(a)substituted
F154Words in art. 9H(2) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(f)substituted
F155Words in art. 9K substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(a)substituted
F156Art. 9L omitted (9.2.2011 for specified purposes, 30.4.2011 in so far as not already in force) by virtue of The Electronic Money Regulations 2011 (S.I. 2011/99), reg. 1(2), Sch. 4 para. 12(e) (with reg. 3)this amendment (text omitted) should be read in conjunction with other related provisions, see the commentary.omitted
F157Art. 11 omitted (31.12.2020) by virtue of The EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018 (S.I. 2018/1149), reg. 1(3), Sch. para. 49(3) (with reg. 4); 2020 c. 1, Sch. 5 para. 1(1)this amendment (text omitted) should be read in conjunction with other related provisions, see the commentary.omitted
F158Art. 12A and words inserted (21.8.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2002 (S.I. 2002/1776), arts. 1, 3(3)inserted
F159Words in art. 12A heading omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(b)(iii) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F160Words in art. 12A heading inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(5)(a)inserted
F161Word in art. 12A substituted (31.12.2020) by The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(b)(i) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)substituted
F162Words in art. 12A omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(b)(ii) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F163Words in art. 12A inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(5)(c)inserted
F164Words in art. 12A substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 148(2)(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
F165Art. 12B inserted (8.12.2017) by The Risk Transformation Regulations 2017 (S.I. 2017/1212), regs. 1(2), 5(2)inserted
F166Pt. II Ch. 3A inserted (8.12.2017) by The Risk Transformation Regulations 2017 (S.I. 2017/1212), regs. 1(2), 5(3)inserted
F167Art. 14(1): art. 14 renumbered as art. 14(1) (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 5(a)renumbered
F168Art. 14(2) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 5(b)inserted
F169Words in art. 14(2) 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), arts. 1(2), 12(3)inserted
F170Words in art. 15(2)(g) substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(3)substituted
F171Art. 15(4) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 6inserted
F172Art. 16(1): art. 16 renumbered as art. 16(1) (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 7(a)renumbered
F173Words in art. 16(1)(b) substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(3)substituted
F174Art. 16(2) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 7(b)inserted
F175Words in art. 18(2)(b) substituted (24.2.2010) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2010 (S.I. 2010/86), art. 1(2), Sch. para. 5(a)substituted
F176Words in art. 18(2)(c) substituted (1.12.2001) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2001 (S.I. 2001/3544), arts. 1(a), 4substituted
F177Art. 18(3) 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), arts. 1(2), 12(4)inserted
F178Art. 18A inserted (1.12.2003) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 3) Order 2003 (S.I. 2003/2822), arts. 1, 3inserted
F179Words in art. 18A(1) substituted (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), arts. 1(2), 13(3)(a)substituted
F180Words in art. 18A(2) substituted (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), arts. 1(2), 13(3)(b)substituted
F181Art. 19(3) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 8inserted
F182Art. 19A inserted (8.12.2017) by The Risk Transformation Regulations 2017 (S.I. 2017/1212), regs. 1(2), 5(4)inserted
F183Words in art. 20 substituted (21.8.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2002 (S.I. 2002/1776), arts. 1, 3(4)substituted
F184Words in art. 20 substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(6)substituted
F185Words in art. 20 omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(c) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F186Words in art. 20 substituted (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), art. 1(3)(4), 2(4)substituted
F187Words in art. 20 substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 148(2)(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
F188Art. 21(1): art. 21 renumbered as art. 21(1) (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 9(a)renumbered
F189Words in art. 21(1) 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), arts. 1(2), 4(1)inserted
F190Words in art. 21 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), 4(1)substituted
F191Words in art. 21(1) omitted (28.1.2021 for specified purposes, 30.7.2022 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2021 (S.I. 2021/90), arts. 1(2)(3), 2(3)omitted
F192Art. 21(2) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 9(b)inserted
F193Words in art. 21(2) 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), arts. 1(2), 12(3)inserted
F194Art. 22(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), 4(2)substituted
F195Art. 22(3) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 10inserted
F196Art. 23(3) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 11inserted
F197Words in art. 24 substituted (21.8.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2002 (S.I. 2002/1776), arts. 1, 3(5)substituted
F198Words in art. 24 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), 4(3)substituted
F199Words in art. 24 omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(c) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F200Words in art. 24 substituted (22.7.2013) by virtue of The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(7)substituted
F201Words in art. 24 substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 148(2)(d) (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
F202Words in art. 24 substituted (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), art. 1(3)(4), 2(5)substituted
F203Words in art. 24 substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 149(5)(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
F204Pt. 2 Ch. 5A inserted (20.7.2012) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2012 (S.I. 2012/1906), arts. 1, 2(3)inserted
F205Words in art. 24A(1)(a) inserted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 3(3)(a)inserted
F206Word in art. 24A(1)(b) substituted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 3(3)(b)(i)substituted
F207Words in art. 24A(1)(b) inserted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 3(3)(b)(ii)inserted
F208Words in art. 24B(1)(a) substituted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 3(4)(a)(i)substituted
F209Words in art. 24B(1)(c) inserted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 3(4)(a)(ii)inserted
F210Art. 24B(2) omitted (22.4.2021) by virtue of The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 3(4)(b)omitted
F211Words in art. 24B(3) substituted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 3(4)(c)(i)substituted
F212Words in art. 24B(3) substituted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 3(4)(c)(ii)substituted
F213Words in art. 25(1) 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), 5(1)substituted
F214Word in art. 25(1)(b) omitted (1.4.2017 for specified purposes, 3.1.2018 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2017 (S.I. 2017/488), arts. 1(2), 4(2)(a)(i)omitted
F215Art. 25(1)(d) and preceding word 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), arts. 1(2), 4(2)(a)(ii)inserted
F216Words in art. 25(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), arts. 1(2), 4(2)(b)substituted
F217Art. 25(3) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 12inserted
F218Words in art. 25(3) substituted (30.1.2024 for specified purposes and otherwise on the day on which EUR 2017/1129 is revoked by 2023 c. 29, s. 1(1), Sch. 1) by The Public Offers and Admissions to Trading Regulations 2024 (S.I. 2024/105), regs. 2(2)(3), 46(2) (with regs. 48-50)text substituted for certain specified purposes only, see the commentary. Note: in some cases two versions of the measure may be present: the original version and substituted version.this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary.substitutedcheck commentary
F219Art. 25A 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), 4inserted
F220Words in art. 25A(1)(b) inserted (17.3.2016 for specified purposes, 21.3.2016 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), art. 1(2)(3)(c), 2(4)(a)(i) (with Pt. 5)inserted
F221Words in art. 25A(1)(b) omitted (17.3.2016 for specified purposes, 21.3.2016 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(c), 2(4)(a)(ii) (with Pt. 5)omitted
F222Art. 25A(1A) inserted (17.3.2016 for specified purposes, 21.3.2016 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), art. 1(2)(3)(c), 2(4)(b) (with Pt. 5)inserted
F223Art. 25A(2A) 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. 4(4)(a) (with Pt. 4)inserted
F224Words in art. 25A(3) substituted (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. 4(4)(b) (with Pt. 4)substituted
F225Arts. 25B, 25C 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), 4inserted
F225Arts. 25B, 25C 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), 4inserted
F226Art. 25D inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 13inserted
F227Art. 25D(1A) inserted (30.1.2024 for specified purposes and otherwise on the day on which EUR 2017/1129 is revoked by 2023 c. 29, s. 1(1), Sch. 1) by The Public Offers and Admissions to Trading Regulations 2024 (S.I. 2024/105), regs. 2(2)(3), 46(3) (with regs. 48-50)text inserted for certain specified purposes only, see the commentary.this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.insertedcheck commentary
F228Word in art. 25D(2)(a) inserted (24.2.2010) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2010 (S.I. 2010/86), art. 1(2), Sch. para. 5(b)inserted
F229Word in art. 25D(2)(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), arts. 1(2), 12(5)inserted
F230Art. 25DA 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), arts. 1(2), 3inserted
F231Art. 25DA(1A) inserted (30.1.2024 for specified purposes and otherwise on the day on which EUR 2017/1129 is revoked by 2023 c. 29, s. 1(1), Sch. 1) by The Public Offers and Admissions to Trading Regulations 2024 (S.I. 2024/105), regs. 2(2)(3), 46(4) (with regs. 48-50)text inserted for certain specified purposes only, see the commentary.this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.insertedcheck commentary
F232Art. 25DB inserted (30.1.2024 for specified purposes and otherwise on the day on which EUR 2017/1129 is revoked by 2023 c. 29, s. 1(1), Sch. 1) by The Public Offers and Admissions to Trading Regulations 2024 (S.I. 2024/105), regs. 2(2)(3), 46(5) (with regs. 48-50)text inserted for certain specified purposes only, see the commentary.this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.insertedcheck commentary
F233Art. 25E inserted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 4inserted
F234Words in art. 26 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), 5substituted
F235Words in art. 26 substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 5substituted
F236Art. 27 renumbered as art. 27(1) (30.1.2024 for specified purposes and otherwise on the day on which EUR 2017/1129 is revoked by 2023 c. 29, s. 1(1), Sch. 1) by The Public Offers and Admissions to Trading Regulations 2024 (S.I. 2024/105), regs. 2(2)(3), 46(6)(a) (with regs. 48-50)text renumbered for certain specified purposes only, see the commentary.this amendment (text renumbered) should be read in conjunction with other related provisions, see the commentary.renumberedcheck commentary
F237Words in art. 27 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), 6substituted
F238Words in art. 27 substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 6substituted
F239Art. 27(2) inserted (30.1.2024 for specified purposes and otherwise on the day on which EUR 2017/1129 is revoked by 2023 c. 29, s. 1(1), Sch. 1) by The Public Offers and Admissions to Trading Regulations 2024 (S.I. 2024/105), regs. 2(2)(3), 46(6)(b) (with regs. 48-50)text inserted for certain specified purposes only, see the commentary.this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.insertedcheck commentary
F240Art. 28(3) 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), 5(2)inserted
F241Art. 28A 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), 7inserted
F242Words in art. 28A title substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 7(1)substituted
F243Words in art. 28A(1) 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), 7(2)(a)(i)substituted
F244Words in art. 28A(1) substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 7(2)(a)(i)substituted
F245Words in art. 28A(1) 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), 7(2)(a)(ii)substituted
F246Words in art. 28A(1) substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 7(2)(a)(ii)substituted
F247Words in art. 28A(2) 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), 7(2)(b)(i)substituted
F248Words in art. 28A(2) substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 7(2)(b)(i)substituted
F249Words in art. 28A(2) substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 7(2)(b)(ii)substituted
F250Words in art. 29(1) 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), 8(a)substituted
F251Words in art. 29(1) substituted (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. 4(5)(a) (with Pt. 4)substituted
F252Words in art. 29(1) substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 8(a)substituted
F253Words in art. 29(1)(b) substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 8(b)substituted
F254Art. 29(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), 5(3)substituted
F255Art. 29(3) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 14inserted
F256Words in art. 29(3) 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. 4(5)(b) (with Pt. 4)inserted
F257Art. 29A 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), 9inserted
F258Art. 29A(1): art. 29A renumbered as art. 29A(1) (6.11.2006 for specified purposes, 6.4.2007 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2006 (S.I. 2006/2383), arts. 1(2), 9(a)renumbered
F259Art. 29A(2)(3) 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), 9(b)inserted
F260Art. 29A(4) inserted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 9inserted
F261Art. 30(1)(a) substituted (1.12.2001) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2001 (S.I. 2001/3544), arts. 1(a), 5substituted
F262Words in art. 30(2)(a) substituted (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), arts. 1(2), 13(4)substituted
F263Words in art. 30(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), 5(4)(a)substituted
F264Words in art. 30(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), 5(4)(b)substituted
F265Art. 30(3) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 15inserted
F266Words in art. 33 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), 10(a)substituted
F267Words in art. 33 substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 10(a)substituted
F268Words in art. 33(b)(iii) 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), 10(b)(i)inserted
F269Words in art. 33(b)(iii) 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), 10(b)(i)inserted
F270Word in art. 33(b)(iii) inserted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 10(b)(i)inserted
F271Word in art. 33(b)(iii) 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), 5(5)(a)inserted
F272Words in art. 33(b)(iii) substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(3)substituted
F273Words in art. 33(b)(iii) substituted (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), 10(b)(ii)substituted
F274Words in art. 33(b)(iii) 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), 10(b)(ii)substituted
F275Words in art. 33(b)(iii) substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 10(b)(ii)substituted
F276Word in art. 33(b)(iii) omitted (31.10.2004 for specified purposes, 14.1.2005 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2003 (S.I. 2003/1476), arts. 1(3), 5(5)(b)omitted
F277Art. 33(d) and preceding word 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), 5(5)(c)inserted
F278Art. 33(d) substituted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 4substituted
F279Art. 33A 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), 11inserted
F280Art. 33A(1A)(1B) 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), 11(a)inserted
F281Art. 33A(1C) inserted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 11(a)inserted
F282Art. 33A(4) 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), 11(b)substituted
F283Art. 33A(4)(d) inserted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 11(b)inserted
F284Art. 33B inserted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 5inserted
F285Words in art. 33B(4) substituted (1.1.2025) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Regulations 2024 (S.I. 2024/1239), regs. 1(2), 5(3)(a)substituted
F286Words in art. 33B(4) substituted (1.1.2025) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Regulations 2024 (S.I. 2024/1239), regs. 1(2), 5(3)(b)substituted
F287Art. 33B(5) inserted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 128(3) (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.inserted
F288Art. 34(3) 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), arts. 1(2), 12(6)inserted
F289Art. 35(3)(ba) inserted (1.4.2013) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) Regulations 2013 (S.I. 2013/504), regs. 1(2), 33(3) (with regs. 52-58)this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted
F290Words in art. 35(3)(ba) 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), 129(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
F291Art. 35(3)(bb) inserted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), reg. 1, Sch. para. 23(2) (with regs. 7(4), 9(1))this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted
F292Words in art. 35(3)(bb) 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), 129(3) (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
F293Words in art. 35(3)(c)(d) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(g)substituted
F294Words in art. 35(4)(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), 5(6)substituted
F295Art. 35A inserted (1.4.2013) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) Regulations 2013 (S.I. 2013/504), regs. 1(2), 33(4) (with regs. 52-58)this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted
F296Art. 35A renumbered as art. 35A(1) (23.3.2019) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(2)(e), 130renumbered
F297Art. 35A(a) formed from art. 35A (13.7.2016) by virtue of The Financial Services and Markets Act 2000 (Transparency of Securities Financing Transactions and of Reuse) Regulations 2016 (S.I. 2016/715), reg. 1(2), Sch. 2 para. 1(3)(a)
F298Art. 35A(b) and preceding word inserted (13.7.2016) by The Financial Services and Markets Act 2000 (Transparency of Securities Financing Transactions and of Reuse) Regulations 2016 (S.I. 2016/715), reg. 1(2), Sch. 2 para. 1(3)(b)inserted
F299Art. 35A(2) inserted (23.3.2019) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(2)(e), 130inserted
F300Words in art. 35A substituted (31.12.2020 immediately before IP completion day) by The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 (S.I. 2020/1385), reg. 1(4), Sch. para. 1(1), (2)(a)substituted
F301Word in art. 35A(2) substituted (27.2.2025) by The Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendments) Regulations 2025 (S.I. 2025/82), reg. 1(2), Sch. 9 para. 1(b)substituted
F302Art. 35AB inserted (1.1.2019) by The Securitisation Regulations 2018 (S.I. 2018/1288), reg. 1, Sch. 2 para. 2(3)inserted
F303Words in art. 35AB substituted (1.11.2024) by The Securitisation (Amendment) Regulations 2024 (S.I. 2024/705), reg. 1(3), Sch. 2 para. 3(3)substituted
F304Words in art. 35B heading omitted (21.7.2022) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2022 (S.I. 2022/726), arts. 1(2), 2(3)(a)omitted
F305Words in art. 35B(1) omitted (21.7.2022) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2022 (S.I. 2022/726), arts. 1(2), 2(3)(b)omitted
F306Art. 35B(2) substituted (21.7.2022) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2022 (S.I. 2022/726), arts. 1(2), 2(3)(c)substituted
F307Art. 36(1): art. 36 renumbered as art. 36(1) (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), 12(a)renumbered
F308Words in art. 36 substituted (21.8.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2002 (S.I. 2002/1776), arts. 1, 3(6)substituted
F309Words in art. 36(1) 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), 5(7)substituted
F310Words in art. 36(1) omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(c) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F311Words in art. 36(1) substituted (22.7.2013) by virtue of The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(7)substituted
F312Words in art. 36(1)(2)(3) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 148(2)(e) (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
F313Words in art. 36(1) substituted (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), art. 1(3)(4), 2(6)(a)substituted
F314Words in art. 36(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), 149(5)(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
F315Art. 36(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), 12(b)inserted
F316Words in art. 36(2) 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), 12substituted
F317Words in art. 36(2) substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 12substituted
F318Words in art. 36(2) substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(6)substituted
F319Words in art. 36(2) omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(c) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F320Words in art. 36(2) substituted (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), art. 1(3)(4), 2(6)(b)substituted
F321Art. 36(2A) 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. 4(6) (with Pt. 4)inserted
F322Art. 36(3) inserted (1.4.2007 for specified purposes) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 16text inserted for certain specified purposes only, see the commentary.insertedcheck commentary
F323Words in art. 36(3) substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(8)substituted
F324Words in art. 36(3) substituted (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), art. 1(3)(4), 2(6)(c)substituted
F325Pt. II Ch. 6A, 6B 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), art. 1(2)(6), 4inserted
F326Words in art. 36A(4)(c) inserted (27.6.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2014 (S.I. 2014/1448), arts. 1(2), 2inserted
F327Art. 36E substituted (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. 4(7) (with Pt. 4)substituted
F328Art. 36F substituted (24.3.2015) by The Financial Services and Markets Act 2000 (Miscellaneous Provisions) Order 2015 (S.I. 2015/853), arts. 1(2), 3(2)substituted
F329Art. 36FA inserted (23.7.2019) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2019 (S.I. 2019/1067), arts. 1(2), 2(2)inserted
F330Art. 36G heading substituted (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), art. 1(3)(4), 2(7)substituted
F331Words in art. 36G substituted (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. 4(8) (with Pt. 4)substituted
F332Words in art. 36G omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(c) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F333Words in art. 36H(1) substituted (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), art. 1(3)(4), 2(9)(a)substituted
F334Words in art. 36H(2) 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), art. 1(3)(4), 2(9)(b)inserted
F335Arts. 36H(2A)-(2C) 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), art. 1(3)(4), 2(9)(c)inserted
F336Words in art. 36H(2A)(a) substituted (17.3.2016) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(a), 2(5)(a) (with Pt. 5)substituted
F337Words in art. 36H(2A)(b) substituted (17.3.2016) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(a), 2(5)(a) (with Pt. 5)substituted
F338Art. 36H(2D) inserted (17.3.2016) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(a), 2(5)(b) (with Pt. 5)inserted
F339Words in art. 36H(3) inserted (17.3.2016) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(a), 2(5)(c)(i) (with Pt. 5)inserted
F340Words in art. 36H(3)(a) substituted (17.3.2016) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(a), 2(5)(c)(ii)(aa) (with Pt. 5)substituted
F341Word in art. 36H(3)(a) substituted (17.3.2016) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(a), 2(5)(c)(ii)(bb) (with Pt. 5)substituted
F342Words in art. 36H(3)(d) substituted (17.3.2016) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(a), 2(5)(c)(iii) (with Pt. 5)substituted
F343Words in art. 36H(3)(e) inserted (17.3.2016) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(a), 2(5)(c)(iv) (with Pt. 5)inserted
F344Words in art. 36H(3)(f) inserted (17.3.2016) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(a), 2(5)(c)(iv) (with Pt. 5)inserted
F345Words in art. 36H(3)(g) inserted (17.3.2016) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(a), 2(5)(c)(iv) (with Pt. 5)inserted
F346Word in art. 36H(3)(g) revoked (17.3.2016) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(a), 2(5)(c)(v) (with Pt. 5)
F347Words in art. 36H(3)(h) inserted (17.3.2016) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(a), 2(5)(c)(iv) (with Pt. 5)inserted
F348Art. 36H(3)(i) and word inserted (17.3.2016) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(a), 2(5)(c)(vi) (with Pt. 5)inserted
F349Art. 36H(4)(4A) substituted for art. 36H(4) (17.3.2016) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(a), 2(5)(d) (with Pt. 5)substituted
F350Words in art. 36H(4) inserted (4.5.2020) by The Financial Services and Markets Act 2000 (Regulated Activities) (Coronavirus) (Amendment) Order 2020 (S.I. 2020/480), arts. 1(2), 2(2) (with art. 3)this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted
F351Art. 36H(9) substituted (17.3.2016) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(d), 2(5)(e) (with Pt. 5)substituted
F352Art. 36H(10) 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), art. 1(3)(4), 2(9)(d)inserted
F353Word in art. 36H(10) substituted (17.3.2016) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(d), 2(5)(f) (with Pt. 5)substituted
F354Art. 36I omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(d) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F355Art. 36IA 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), art. 1(3)(4), 2(10)inserted
F356Words in art. 37(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), arts. 1(2), 4(3)inserted
F357Art. 38(1): art. 38 renumbered as art. 38(1) (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 17(a)renumbered
F358Word in art. 38(b) omitted (1.12.2001) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2001 (S.I. 2001/3544), arts. 1(a), 6(a)omitted
F359Art. 38(b)(iii) and word inserted (1.12.2001) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2001 (S.I. 2001/3544), arts. 1(a), 6(b)inserted
F360Art. 38(2) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 17(b)inserted
F361Words in art. 39 substituted (21.8.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2002 (S.I. 2002/1776), arts. 1, 3(7)substituted
F362Words in art. 39 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), 6substituted
F363Words in art. 39 omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(c) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F364Words in art. 39 substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(9)substituted
F365Words in art. 39 substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 148(2)(f) (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
F366Words in art. 39 substituted (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), art. 1(3)(4), 2(11)substituted
F367Pt. 2 Ch. 7A 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), 7inserted
F368Art. 39B(2)(a)(iii) omitted (31.12.2020) by virtue of The EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018 (S.I. 2018/1149), reg. 1(3), Sch. para. 49(4)(a) (with reg. 4); 2020 c. 1, Sch. 5 para. 1(1)this amendment (text omitted) should be read in conjunction with other related provisions, see the commentary.omitted
F369Word in art. 39B(2)(b)(i) omitted (10.12.2007) by The Financial Services and Markets Act 2000 (Reinsurance Directive) Order 2007 (S.I. 2007/3254), arts. 1, 2(2)(a)omitted
F370Art. 39B(2)(b)(ii)(iii) substituted for art. 39B(2)(b)(ii) (10.12.2007) by The Financial Services and Markets Act 2000 (Reinsurance Directive) Order 2007 (S.I. 2007/3254), arts. 1, 2(2)(b)substituted
F371Art. 39B(2)(b)(ii) omitted (31.12.2020) by virtue of The EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018 (S.I. 2018/1149), reg. 1(3), Sch. para. 49(4)(a) (with reg. 4); 2020 c. 1, Sch. 5 para. 1(1)this amendment (text omitted) should be read in conjunction with other related provisions, see the commentary.omitted
F372Words in art. 39B(2)(b)(iii) omitted (31.12.2020) by virtue of The EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018 (S.I. 2018/1149), reg. 1(3), Sch. para. 49(4)(c) (with reg. 4); 2020 c. 1, Sch. 5 para. 1(1)this amendment (text omitted) should be read in conjunction with other related provisions, see the commentary.omitted
F373Words in art. 39C omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(c) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F374Words in art. 39C substituted (22.7.2013) by virtue of The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(7)substituted
F375Words in art. 39C substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 148(2)(g) (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
F376Words in art. 39C substituted (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), art. 1(3)(4), 2(12)substituted
F377Words in art. 39C substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 149(5)(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
F378Pt. II Ch. 7B 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), art. 1(2)(6), 5inserted
F379Art. 39H(1A) inserted (4.5.2020) by The Financial Services and Markets Act 2000 (Regulated Activities) (Coronavirus) (Amendment) Order 2020 (S.I. 2020/480), arts. 1(2), 2(3) (with art. 3)this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted
F380Word in art. 39H(3) substituted (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), art. 1(3)(4), 2(13)substituted
F381Word in art. 39H(4) substituted (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), art. 1(3)(4), 2(13)substituted
F382Art. 39I(3)(a) omitted (E.W.S.) (15.7.2014) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 4(a) (with art. 1(3))this amendment (text omitted) should be read in conjunction with other related provisions, see the commentary.omitted: England, Wales and Scotlandomitted
F383Words in art. 39I(3)(b) substituted (E.W.S.) (15.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 4(b) (with art. 1(3))this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary.substituted: England, Wales and Scotlandsubstituted
F384Word in art. 39J substituted (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), art. 1(3)(4), 2(14)(a)substituted
F385Words in art. 39J substituted (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), art. 1(3)(4), 2(14)(b)substituted
F386Words in art. 39J 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), art. 1(3)(4), 2(14)(c)inserted
F387Art. 39K substituted (24.3.2015) by The Financial Services and Markets Act 2000 (Miscellaneous Provisions) Order 2015 (S.I. 2015/853), arts. 1(2), 3(3)substituted
F388Words in art. 39KA heading omitted (21.7.2022) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2022 (S.I. 2022/726), arts. 1(2), 2(4)(a)omitted
F389Words in art. 39KA(1) omitted (21.7.2022) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2022 (S.I. 2022/726), arts. 1(2), 2(4)(b)omitted
F390Art. 39KA(2) substituted (21.7.2022) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2022 (S.I. 2022/726), arts. 1(2), 2(4)(c)substituted
F391Art. 39L heading substituted (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), art. 1(3)(4), 2(15)substituted
F392Word in art. 39L substituted (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), art. 1(3)(4), 2(16)(a)substituted
F393Words in art. 39L omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(e) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F394Words in art. 39L 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), art. 1(3)(4), 2(16)(b)inserted
F395Art. 42A inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(10)inserted
F396Words in art. 42A heading substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 131(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.substituted
F397Words in art. 42A(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), 131(3) (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
F398Words in art. 44 substituted (21.8.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2002 (S.I. 2002/1776), arts. 1, 3(8)substituted
F399Words in art. 44 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), 8substituted
F400Words in art. 44 omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(c) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F401Words in art. 44 substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(9)substituted
F402Words in art. 44 substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 148(2)(h) (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
F403Words in art. 44 substituted (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), art. 1(3)(4), 2(17)substituted
F404Words in art. 45(1) inserted (27.4.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2002 (S.I. 2002/682), arts. 1(2)(b), 13(1)(a)inserted
F405Words in art. 45(1) substituted (27.3.2019) by The Uncertificated Securities (Amendment and EU Exit) Regulations 2019 (S.I. 2019/679), regs. 1(2), 6(a) (with regs. 10-12)this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary.substituted
F406Words in art. 45(2) inserted (27.4.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2002 (S.I. 2002/682), arts. 1(2)(b), 13(2)inserted
F407Words in art. 45(2) inserted (1.12.2001) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2001 (S.I. 2001/3544), arts. 1(a), 7inserted
F408Art. 45(3)(a) substituted (27.4.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2002 (S.I. 2002/682), arts. 1(2)(b), 13(3)(a)substituted
F409Word in art. 45(3)(b) omitted (27.3.2019) by virtue of The Uncertificated Securities (Amendment and EU Exit) Regulations 2019 (S.I. 2019/679), regs. 1(2), 6(b) (with regs. 10-12)this amendment (text omitted) should be read in conjunction with other related provisions, see the commentary.omitted
F410Word in art. 45(3)(b) substituted (27.4.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2002 (S.I. 2002/682), arts. 1(2)(b), 13(3)(b)substituted
F411Word in art. 46 substituted (27.4.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2002 (S.I. 2002/682), arts. 1(2)(b), 13(4)substituted
F412Words in art. 48(2)(b) substituted (6.4.2007) by The Companies Act 2006 (Commencement No. 2, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/1093), art. 1(3), Sch. 3 para. 8(2)substituted
F413Words in art. 48(2)(b) substituted (6.4.2007) by The Companies Act 2006 (Commencement No. 2, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/1093), art. 1(3), Sch. 3 para. 8(3)substituted
F414Words in art. 48(2)(b) substituted (6.4.2007) by The Companies Act 2006 (Commencement No. 2, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/1093), art. 1(3), Sch. 3 para. 8(4)substituted
F415Word in art. 49 substituted (27.4.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2002 (S.I. 2002/682), arts. 1(2)(b), 13(4)substituted
F416Words in art. 50 substituted (21.8.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2002 (S.I. 2002/1776), arts. 1, 3(9)substituted
F417Words in art. 50 substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(6)substituted
F418Words in art. 50 omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(c) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F419Words in art. 50 substituted (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), art. 1(3)(4), 2(18)substituted
F420Words in art. 50 substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 148(2)(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.substituted
F421Word in Pt. 2 Ch. 10 heading omitted (22.7.2013) by virtue of The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(11)omitted
F422Arts. 51ZA-51ZG substituted for arts. 51 and cross-heading (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(12)substituted
F422Arts. 51ZA-51ZG substituted for arts. 51 and cross-heading (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(12)substituted
F422Arts. 51ZA-51ZG substituted for arts. 51 and cross-heading (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(12)substituted
F422Arts. 51ZA-51ZG substituted for arts. 51 and cross-heading (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(12)substituted
F422Arts. 51ZA-51ZG substituted for arts. 51 and cross-heading (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(12)substituted
F422Arts. 51ZA-51ZG substituted for arts. 51 and cross-heading (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(12)substituted
F423Words in art. 51ZA heading substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 132(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.substituted
F424Words in art. 51ZA(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), 132(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.substituted
F425Art. 51ZA(2)(2A) substituted for art. 51ZA(2) (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 132(3) (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
F426Words in art. 51ZA(3) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 132(4) (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
F427Words in art. 51ZB heading substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 133(1) (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
F428Words in art. 51ZB(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), 133(1) (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
F429Art. 51ZD(2)(b) and word 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), 134(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
F430Art. 51ZD(3)(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), 134(3) (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
F431Words in art. 51ZG heading substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 135(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.substituted
F432Words in art. 51ZG(1)(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), 135(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.substituted
F433Words in art. 51ZG(2)(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), 135(3) (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
F434Words in art. 51ZG(2)(c) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 135(3) (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
F435Art. 51A and cross-heading inserted (21.8.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2002 (S.I. 2002/1776), arts. 1, 3(10)inserted
F436Art. 51A heading substituted (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), art. 1(3)(4), 2(19)substituted
F437Words in art. 51A substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(13)substituted
F438Word in art. 51A substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(4)(b)substituted
F439Word in art. 51A substituted (31.12.2020) by The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(f) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)substituted
F440Words in art. 51A substituted (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), art. 1(3)(4), 2(20)substituted
F441Words in art. 51A substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 148(2)(j) (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
F442Word in Pt. 2 Ch. 11 title omitted (1.10.2006 for specified purposes, 6.4.2007 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2006 (S.I. 2006/1969), arts. 1(2), 2(3)omitted
F443Art. 52 substituted (1.10.2006 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) Order 2006 (S.I. 2006/1969), arts. 1(2), 2(4)substituted
F444Art. 52A and cross-heading inserted (21.8.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2002 (S.I. 2002/1776), arts. 1, 3(11)inserted
F445Art. 52A heading substituted (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), art. 1(3)(4), 2(21)substituted
F446Word in art. 52A substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(4)(b)substituted
F447Word in art. 52A substituted (31.12.2020) by The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(f) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)substituted
F448Words in art. 52A substituted (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), art. 1(3)(4), 2(22)substituted
F449Words in art. 52A substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 148(2)(k) (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
F450Pt. 2 Ch. 11A 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), 3inserted
F451Words in art. 52B(3) substituted (6.4.2005) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2005 (S.I. 2005/593), arts. 1, 2(3)substituted
F452Art. 52C and cross-heading inserted (26.3.2015) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (Pensions Guidance Exclusions) Order 2015 (S.I. 2015/489), arts. 1, 2(5)inserted
F453Words in art. 52C heading omitted (21.7.2022) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2022 (S.I. 2022/726), arts. 1(2), 2(5)(a)omitted
F454Words in art. 52C(1) omitted (21.7.2022) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2022 (S.I. 2022/726), arts. 1(2), 2(5)(b)omitted
F455Art. 52C(2) substituted (21.7.2022) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2022 (S.I. 2022/726), arts. 1(2), 2(5)(c)substituted
F456Art. 53(1): art. 53 renumbered as art. 53(1) (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), art. 1(2)(3)(d), 2(6)(a) (with Pt. 5)renumbered
F457Words in art. 53(1)(b)(i) inserted (3.1.2018) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2017 (S.I. 2017/500), arts. 1(1), 2(2)inserted
F458Words in art. 53(1)(b)(i) 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), arts. 1(2), 4(4)inserted
F459Words in art. 53(b)(i) 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), 9(1)substituted
F460Words in art. 53(1)(b)(ii) inserted (3.1.2018) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2017 (S.I. 2017/500), arts. 1(1), 2(3)(a)inserted
F461Words in art. 53(1)(b)(ii) substituted (3.1.2018) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2017 (S.I. 2017/500), arts. 1(1), 2(3)(b)substituted
F462Art. 53(1A)-(1D) inserted (3.1.2018) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2017 (S.I. 2017/500), arts. 1(1), 2(4)inserted
F463Words in art. 53(1C)(b)(i) inserted (3.1.2018) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(6), Sch. 3 para. 2 (with reg. 7)this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted
F464Art. 53(2)-(5) 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), art. 1(2)(3)(d), 2(6)(b) (with Pt. 5)inserted
F465Art. 53A 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), 13inserted
F466Words in art. 53A(1)(b)(ii) inserted (17.3.2016 for specified purposes, 21.3.2016 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), art. 1(2)(3)(c), 2(7)(a)(i) (with Pt. 5)inserted
F467Words in art. 53A(1)(b)(ii) omitted (17.3.2016 for specified purposes, 21.3.2016 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(c), 2(7)(a)(ii) (with Pt. 5)omitted
F468Art. 53A(1A) inserted (17.3.2016 for specified purposes, 21.3.2016 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), art. 1(2)(3)(c), 2(7)(b) (with Pt. 5)inserted
F469Arts. 53B, 53C 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), 13inserted
F469Arts. 53B, 53C 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), 13inserted
F470Art. 53D inserted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 13inserted
F471Art. 53DA 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. 4(9) (with Pt. 4)inserted
F472Words in art. 53DA(1)(c) inserted (17.3.2016 for specified purposes, 21.3.2016 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), art. 1(2)(3)(c), 2(8) (with Pt. 5)inserted
F473Art. 53DA(2) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 136 (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/1212, regs. 1(3), 22(3) and S.I. 2020/1301, regs. 1, 3, Sch. para. 33(n)); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F474Art. 53E inserted (6.4.2015) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2015 (S.I. 2015/731), arts. 1, 2(2)inserted
F475Words in art. 54(1) 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), 14(a)(i)substituted
F476Words in art. 54(1) substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 14(a)substituted
F477Words in art. 54(1) substituted (6.4.2015) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2015 (S.I. 2015/731), arts. 1, 2(3)(a)(i)substituted
F478Word in art. 54 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. 4(10)(a) (with Pt. 4)inserted
F479Words in art. 54(1)(a) 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), 14(a)(ii)substituted
F480Words in art. 54(1)(a) substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 14(b)substituted
F481Words in art. 54(1)(a) substituted (6.4.2015) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2015 (S.I. 2015/731), arts. 1, 2(3)(a)(ii)substituted
F482Art. 54(1)(b) substituted (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), 14(4)substituted
F483Words in art. 54(1)(b)(i) inserted (3.1.2018) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) (No.2) Regulations 2017 (S.I. 2017/1255), regs. 2(b), 4(2)inserted
F484Words in art. 54(1)(b) 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), 9(2)substituted
F485Art. 54(1)(b)(ia) 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), art. 1(2)(3)(d), 2(9) (with Pt. 5)inserted
F486Art. 54(1)(b)(iii)(iv) 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), 14(a)(iii)inserted
F487Art. 54(1)(b)(v) inserted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 14(c)inserted
F488Art. 54(1)(b)(va) 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. 4(10)(b) (with Pt. 4)inserted
F489Words in art. 54(1)(b)(va) inserted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 137(1) (with reg. 137(2)) (as amended by S.I. 2020/1031, regs. 1, 3, Sch. para. 33(o) and 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 (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted
F490Art. 54(1)(b)(vi) inserted (6.4.2015) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2015 (S.I. 2015/731), arts. 1, 2(3)(a)(iii)inserted
F491Words in art. 54(2) 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), 14(b)substituted
F492Words in art. 54(2) substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 14(d)substituted
F493Words in art. 54(2) substituted (6.4.2015) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2015 (S.I. 2015/731), arts. 1, 2(3)(b)substituted
F494Art. 54(2A) inserted (3.1.2018) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2017 (S.I. 2017/500), arts. 1(1), 3(2)inserted
F495Words in art. 54(3) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(a)substituted
F496Art. 54A 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), 15inserted
F497Art. 54A(1): art. 54A renumbered as art. 54A(1) (6.11.2006 for specified purposes, 6.4.2007 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2006 (S.I. 2006/2383), arts. 1(2), 15(a)renumbered
F498Art. 54A(2)(3) 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), 15(b)inserted
F499Art. 54A(4) inserted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 15inserted
F500Art. 54A(5) 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. 4(11) (with Pt. 4)inserted
F501Words in art. 54B heading omitted (21.7.2022) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2022 (S.I. 2022/726), arts. 1(2), 2(6)(a)omitted
F502Words in art. 54B(1) omitted (21.7.2022) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2022 (S.I. 2022/726), arts. 1(2), 2(6)(b)omitted
F503Art. 54B(2) substituted (21.7.2022) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2022 (S.I. 2022/726), arts. 1(2), 2(6)(c)substituted
F504Art. 55(1): art. 55 renumbered as art. 55(1) (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), 16(a)renumbered
F505Words in art. 55 substituted (21.8.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2002 (S.I. 2002/1776), arts. 1, 3(12)substituted
F506Words in art. 55(1) 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), 9(3)substituted
F507Words in art. 55(1) omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(c) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F508Words in art. 55(1) substituted (22.7.2013) by virtue of The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(7)substituted
F509Words in art. 55(1)(2) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 148(2)(l) (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
F510Words in art. 55(1) substituted (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), art. 1(3)(4), 2(23)(a)substituted
F511Words in art. 55(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), 149(5)(d) (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
F512Art. 55(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), 16(b)inserted
F513Words in art. 55(2) 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), 16substituted
F514Words in art. 55(2) substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 16substituted
F515Words in art. 55(2) substituted (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. 4(12)(a) (with Pt. 4)substituted
F516Words in art. 55(2) substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(6)substituted
F517Words in art. 55(2) omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(c) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F518Words in art. 55(2) substituted (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), art. 1(3)(4), 2(23)(b)substituted
F519Words in art. 55(2) substituted (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. 4(12)(b) (with Pt. 4)substituted
F520Art. 58A and cross-heading inserted (21.8.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2002 (S.I. 2002/1776), arts. 1, 3(13)inserted
F521Words in art. 58A heading omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(a)(iii) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F522Words in art. 58A heading inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(4)(a)inserted
F523Word in art. 58A substituted (31.12.2020) by The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(a)(i) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)substituted
F524Words in art. 58A omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(a)(ii) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F525Words in art. 58A inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(4)(c)inserted
F526Words in art. 58A substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 148(2)(m) (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
F527Art. 59(1A) 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), 2(4)(a)inserted
F528Words in art. 59(2) omitted (28.1.2021 for specified purposes, 30.7.2022 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2021 (S.I. 2021/90), arts. 1(2)(3), 2(4)(b)omitted
F529Art. 59(2A) 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), 2(4)(c)inserted
F530Art. 59(3)-(6) inserted (16.5.2022 for specified purposes, 29.7.2022 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2022 (S.I. 2022/466), arts. 1(3), 2(2)inserted
F531Art. 60 cross-heading substituted (21.8.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2002 (S.I. 2002/1776), arts. 1, 3(14)substituted
F532Art. 60 omitted (28.1.2021 for specified purposes, 30.7.2022 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2021 (S.I. 2021/90), arts. 1(2)(3), 2(5)omitted
F533Art. 60ZA 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), 2(6)inserted
F534Words in art. 60A heading omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(a)(iii) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F535Art. 60A inserted (21.8.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2002 (S.I. 2002/1776), arts. 1, 3(15)inserted
F536Words in art. 60A heading inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(4)(a)inserted
F537Word in art. 60A substituted (31.12.2020) by The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(a)(i) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)substituted
F538Words in art. 60A omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(a)(ii) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F539Words in art. 60A inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(4)(c)inserted
F540Words in art. 60A substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 148(2)(n) (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
F541Art. 60AA inserted (16.5.2022 for specified purposes, 29.7.2022 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2022 (S.I. 2022/466), arts. 1(3), 2(3)inserted
F542Pt. II Ch. 14A, 14B 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), art. 1(2)(6), 6inserted
F543Words in art. 60B(3) substituted (E.W.S.) (15.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 5 (with art. 1(3))this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary.substituted: England, Wales and Scotlandsubstituted
F544Words in art. 60B(3) substituted (24.3.2015) by The Financial Services and Markets Act 2000 (Miscellaneous Provisions) Order 2015 (S.I. 2015/853), arts. 1(2), 3(4)substituted
F545Words in art. 60B(3) substituted (17.3.2016 for specified purposes, 20.3.2016 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), art. 1(2)(3)(b), 2(10)(a) (with Pt. 5)substituted
F546Words in art. 60B(3) substituted (17.3.2016 for specified purposes, 21.3.2016 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), art. 1(2)(3)(c), 2(10)(b) (with Pt. 5)substituted
F547Art. 60C(2) substituted (5.11.2015 for specified purposes, 1.1.2016 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 3) Order 2015 (S.I. 2015/1863), art. 1(2)(b)(3), 2(2)substituted
F548Word in art. 60C(2) omitted (5.11.2015 for specified purposes, 21.3.2016 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 3) Order 2015 (S.I. 2015/1863), art. 1(2)(b)(4), 2(3)(a)omitted
F549Art. 60C(2)(c) and word inserted (5.11.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 3) Order 2015 (S.I. 2015/1863), art. 1(2)(b)(4), 2(3)(b)inserted
F550Words in art. 60C(2)(c) omitted (17.3.2016 for specified purposes, 21.3.2016 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(c), 2(11) (with Pt. 5)omitted
F551Art. 60C(4)(c) substituted (E.W.S.) (15.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 6 (with art. 1(3))this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary.substituted: England, Wales and Scotlandsubstituted
F552Arts. 60C(4A)-(4C) inserted (4.5.2020) by The Financial Services and Markets Act 2000 (Regulated Activities) (Coronavirus) (Amendment) Order 2020 (S.I. 2020/480), arts. 1(2), 2(4) (with art. 3)this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted
F553Words in art. 60C(8)(b) 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), art. 1(3)(4), 2(24)inserted
F554Words in art. 60D(1) 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), art. 1(3)(4), 2(25)inserted
F555Art. 60D(4)(5) substituted for art. 60D(4) (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 138 (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/1212, regs. 1(3), 22(3) and S.I. 2020/1301, regs. 1, 3, Sch. para. 33(p)); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F556Words in art. 60E(2) substituted (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. 4(15)(a) (with Pt. 4)substituted
F557Words in art. 60E(5) substituted (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. 4(15)(b) (with Pt. 4)substituted
F558Words in art. 60E(5)(a) 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), art. 1(3)(4), 2(26)inserted
F559Words in art. 60E(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), 139 (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
F560Words in art. 60E(7) inserted (28.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 3) Order 2014 (S.I. 2014/1740), arts. 1(2), 2(a)inserted
F561Words in art. 60E(7) inserted (17.3.2016 for specified purposes, 20.3.2016 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), art. 1(2)(3)(b), 2(13)(a) (with Pt. 5)inserted
F562Words in art. 60E(7) inserted (17.3.2016 for specified purposes, 20.3.2016 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), art. 1(2)(3)(b), 2(13)(b) (with Pt. 5)inserted
F563Words in art. 60E(7) 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), art. 1(3)(4), 2(26)inserted
F564Art. 60E(7A)(7B) inserted (28.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 3) Order 2014 (S.I. 2014/1740), arts. 1(2), 2(b)inserted
F565Words in art. 60F(2)(a) inserted (E.W.S.) (15.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 7 (with art. 1(3))this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted: England, Wales and Scotlandinserted
F566Word in art. 60F(2)(b) substituted (18.3.2015) by The Financial Services and Markets Act 2000 (Miscellaneous Provisions) (No. 2) Order 2015 (S.I. 2015/352), arts. 1, 2(a)substituted
F567Word in art. 60F(2) 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), art. 1(3)(4), 2(27)(a)omitted
F568Words in art. 60F(4) substituted (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. 4(16) (with Pt. 4)substituted
F569Words in art. 60F(5)(c) 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), art. 1(3)(4), 2(27)(b)inserted
F570Words in art. 60F(6)(b) 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), art. 1(3)(4), 2(27)(b)inserted
F571Art. 60F(8) substituted (24.3.2015) by The Financial Services and Markets Act 2000 (Miscellaneous Provisions) Order 2015 (S.I. 2015/853), arts. 1(2), 3(5)substituted
F572Word in art. 60G(2) 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. 4(17)(a)(i) (with Pt. 4)omitted
F573Art. 60G(2)(c) and word 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. 4(17)(a)(ii) (with Pt. 4)inserted
F574Art. 60G(2A) 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. 4(17)(b) (with Pt. 4)inserted
F575Words in art. 60G(2A)(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), 140(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.substituted
F576Word in art. 60G(2A) omitted (17.3.2016 for specified purposes, 21.3.2016 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(c), 2(14)(a)(i) (with Pt. 5)omitted
F577Words in art. 60G(2A)(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), 140(3)(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
F578Words in art. 60G(2A)(b)(i) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 140(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
F579Words in art. 60G(2A)(b)(ii) 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), 140(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.omitted
F580Art. 60G(2A)(c) and word inserted (17.3.2016 for specified purposes, 21.3.2016 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), art. 1(2)(3)(c), 2(14)(a)(ii) (with Pt. 5)inserted
F581Words in art. 60G(3) substituted (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. 4(17)(c) (with Pt. 4)substituted
F582Words in art. 60G(4) substituted (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. 4(17)(d) (with Pt. 4)substituted
F583Art. 60G(5)(b) substituted (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), art. 1(3)(4), 2(28)substituted
F584Art. 60G(5)(b)(i)(bb) substituted (18.3.2015) by The Financial Services and Markets Act 2000 (Miscellaneous Provisions) (No. 2) Order 2015 (S.I. 2015/352), arts. 1, 2(b)substituted
F585Words in art. 60G(6) substituted (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. 4(17)(e) (with Pt. 4)substituted
F586Art. 60G(8) 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. 4(17)(f) (with Pt. 4)inserted
F587Words in art. 60G(8) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 140(4) (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
F588Words in art. 60G(8) inserted (17.3.2016 for specified purposes, 21.3.2016 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), art. 1(2)(3)(c), 2(14)(b) (with Pt. 5)inserted
F589Art. 60G(9) inserted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 140(5) (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.inserted
F590Art. 60H(1): art. 60H renumbered as art. 60H(1) (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. 4(18)(a) (with Pt. 4)renumbered
F591Words in art. 60H(1) substituted (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. 4(18)(b)(i) (with Pt. 4)substituted
F592Word in art. 60H(1) substituted (21.7.2022) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2022 (S.I. 2022/726), arts. 1(2), 2(7)(a)substituted
F593Art. 60H(1)(b)(ii) substituted (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. 4(18)(b)(ii) (with Pt. 4)substituted
F594Words in art. 60H(1)(b)(ii) inserted (17.3.2016 for specified purposes, 21.3.2016 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), art. 1(2)(3)(c), 2(15) (with Pt. 5)inserted
F595Art. 60H(1)(b)(ii)(bb) and word 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), 141(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
F596Art. 60H(1A)-(1F) inserted (21.7.2022) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2022 (S.I. 2022/726), arts. 1(2), 2(7)(b)inserted
F597Art. 60H(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), 141(3) (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
F598Art. 60HA 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. 4(19) (with Pt. 4)inserted
F599Words in art. 60HA heading substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 142(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.substituted
F600Words in art. 60HA heading substituted (21.7.2022) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2022 (S.I. 2022/726), arts. 1(2), 2(8)substituted
F601Words in art. 60HA(1) inserted (17.3.2016 for specified purposes, 21.3.2016 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), art. 1(2)(3)(c), 2(16) (with Pt. 5)inserted
F602Words in art. 60HA(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), 142(3) (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
F603Words in art. 60HA(2) inserted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 142(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.inserted
F604Art. 60HA(2)(a) 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), 142(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
F605Words in art. 60HA(2)(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), 142(4)(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
F606Art. 60JA 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), 143(1) (with reg. 143(2)(2A)) (with savings in S.I. 2019/680, reg. 11 and as amended by S.I. 2019/1212, regs. 1(3), 8, 22(3)); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.this amendment (text omitted) should be read in conjunction with other related provisions, see the commentary.omitted
F607Art. 60JB 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), 144(1) (with reg. 144(2)(2A)) (with savings in S.I. 2019/680, reg. 11 and as amended by S.I. 2019/1212, regs. 1(3), 8, 22(3)); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.this amendment (text omitted) should be read in conjunction with other related provisions, see the commentary.omitted
F608Art. 60K heading substituted (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), art. 1(3)(4), 2(30)substituted
F609Words in art. 60K substituted (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. 4(20) (with Pt. 4)substituted
F610Words in art. 60K omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(c) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F611Words in art. 60L(1) inserted (E.W.S.) (15.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 8(2)(a) (with art. 1(3))this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted: England, Wales and Scotlandinserted
F612Words in art. 60L(1) substituted (E.W.S.) (15.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 8(2)(b) (with art. 1(3))this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary.substituted: England, Wales and Scotlandsubstituted
F613Words in art. 60L(1) 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), art. 1(3)(4), 2(32)(a)(i)inserted
F614Words in art. 60L(1) 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), art. 1(3)(4), 2(32)(a)(ii)inserted
F615Words in art. 60L(1) inserted (E.W.S.) (15.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 8(2)(c) (with art. 1(3))this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted: England, Wales and Scotlandinserted
F616Art. 60L(1A) inserted (E.W.S.) (15.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 8(3) (with art. 1(3))this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted: England, Wales and Scotlandinserted
F617Words in art. 60L(3) 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), art. 1(3)(4), 2(32)(b)inserted
F618Words in art. 60L(4) 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), art. 1(3)(4), 2(32)(b)inserted
F619Art. 60L(10)(11) added (24.3.2015) by The Financial Services and Markets Act 2000 (Miscellaneous Provisions) Order 2015 (S.I. 2015/853), arts. 1(2), 3(6)added
F620Art. 60LA 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), art. 1(3)(4), 2(33)inserted
F621Words in art. 60LA(3) inserted (E.W.S.) (15.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 9 (with art. 1(3))this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted: England, Wales and Scotlandinserted
F622Art. 60LB inserted (E.W.S.) (15.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 10 (with art. 1(3))this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted: England, Wales and Scotlandinserted
F623Word in art. 60N(3) 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), art. 1(3)(4), 2(34)omitted
F624Words in art. 60N(3) substituted (17.3.2016 for specified purposes, 20.3.2016 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), art. 1(2)(3)(b), 2(17) (with Pt. 5)substituted
F625Art. 60R heading substituted (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), art. 1(3)(4), 2(35)substituted
F626Words in art. 60R omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(g) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F627Words in art. 60R 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), art. 1(3)(4), 2(36)inserted
F628Art. 60S and cross-heading 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), art. 1(3)(4), 2(37)inserted
F629Words in art. 61(2) substituted (5.11.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 3) Order 2015 (S.I. 2015/1863), art. 1(2)(b)(4), 2(4)substituted
F630Art. 61(3)(a) substituted (31.10.2004) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2001 (S.I. 2001/3544), arts. 1(1)(b), 8(b)substituted
F631Words in art. 61(3)(a) inserted (17.3.2016 for specified purposes, 21.3.2016 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), art. 1(2)(3)(c), 2(18)(a) (with Pt. 5)inserted
F632Art. 61(3)(a)(i)-(iii) substituted (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. 4(21)(a)(i) (with Pt. 4)substituted
F633Words in art. 61(3)(a)(ii) 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), 145(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
F634Words in art. 61(3)(a) 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), 17inserted
F635Words in art. 61(3)(a) substituted (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. 4(21)(a)(ii) (with Pt. 4)substituted
F636Words in art. 61(4) substituted (31.10.2004) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2001 (S.I. 2001/3544), arts. 1(1)(b), 8(c)substituted
F637Art. 61(4)(a) substituted (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. 4(21)(b) (with Pt. 4)substituted
F638Art. 61(4)(aa) inserted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 145(3) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/1212, regs. 1(3), 22(3) and S.I. 2020/1301, regs. 1, 3, Sch. para. 33(q)); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.inserted
F639Words in art. 61(4)(c)(i) inserted (5.12.2005) by The Civil Partnership Act 2004 (Amendments to Subordinate Legislation) Order 2005 (S.I. 2005/2114), reg. 1, Sch. 16 para. 1(3)inserted
F640Word in art. 61(4) 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. 4(21)(c)(i) (with Pt. 4)omitted
F641Art. 61(4)(d) 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. 4(21)(c)(ii) (with Pt. 4)omitted
F642Art. 61(5) inserted (17.3.2016 for specified purposes, 21.3.2016 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), art. 1(2)(3)(c), 2(18)(b) (with Pt. 5)inserted
F643Art. 61A 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. 4(22) (with Pt. 4)inserted
F644Word in art. 61A(1) omitted (5.11.2015 for specified purposes, 21.3.2016 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 3) Order 2015 (S.I. 2015/1863), art. 1(2)(b)(4), 2(5)(a)(i)omitted
F645Art. 61A(1)(f) and preceding word inserted (5.11.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 3) Order 2015 (S.I. 2015/1863), art. 1(2)(b)(4), 2(5)(a)(ii)inserted
F646Word in art. 61A(1) omitted (17.3.2016 for specified purposes, 21.3.2016 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(c), 2(19)(a)(i) (with Pt. 5)omitted
F647Art. 61A(1)(g) and preceding word inserted (17.3.2016 for specified purposes, 21.3.2016 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), art. 1(2)(3)(c), 2(19)(a)(ii) (with Pt. 5)inserted
F648Words in art. 61A(6) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 146(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.substituted
F649Words in art. 61A(6) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 146(3) (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
F650Words in art. 61A(6) inserted (5.11.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 3) Order 2015 (S.I. 2015/1863), art. 1(2)(b)(4), 2(5)(b)inserted
F651Words in art. 61A(6) inserted (17.3.2016 for specified purposes, 21.3.2016 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), art. 1(2)(3)(c), 2(19)(b) (with Pt. 5)inserted
F652Words in art. 61A(6) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 146(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
F653Words in art. 61A(6) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 146(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.substituted
F654Art. 63A substituted (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), 17substituted
F655Words in art. 63A substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(6)substituted
F656Words in art. 63A omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(c) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F657Words in art. 63A substituted (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), art. 1(3)(4), 2(38)substituted
F658Words in art. 63A substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 148(2)(o) (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
F659Words in art. 63A substituted (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. 4(23) (with Pt. 4)substituted
F660Pt. 2 Chs. 15A, 15B 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), 18inserted
F661Words in art. 63B(6)(a) omitted (2.4.2018) by virtue of The Alternative Investment Fund Managers (Amendment) Regulations 2018 (S.I. 2018/134), regs. 1(3), 4(a)omitted
F662Art. 63B(6)(aa) inserted (2.4.2018) by The Alternative Investment Fund Managers (Amendment) Regulations 2018 (S.I. 2018/134), regs. 1(3), 4(b)inserted
F663Words in art. 63B(6)(b) substituted (28.10.2011) by The Public Services Reform (Scotland) Act 2010 (Consequential Modifications of Enactments) Order 2011 (S.I. 2011/2581), art. 1(2)(b), Sch. 2 para. 32substituted
F664Words in art. 63E substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(6)substituted
F665Words in art. 63E omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(c) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F666Words in art. 63E substituted (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), art. 1(3)(4), 2(39)substituted
F667Words in art. 63E substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 148(2)(p) (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
F668Words in art. 63I substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(6)substituted
F669Words in art. 63I omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(c) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F670Words in art. 63I substituted (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), art. 1(3)(4), 2(40)substituted
F671Words in art. 63I substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 148(2)(q) (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
F672Pt. 2 Ch. 15C inserted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 17inserted
F673Art. 63J(4)(b) substituted (23.2.2011) by The Timeshare, Holiday Products, Resale and Exchange Contracts Regulations 2010 (S.I. 2010/2960), reg. 1(2), Sch. 6 para. 7(3) (with Sch. 7 para. 4)this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary.substituted
F674Words in art. 63M substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(6)substituted
F675Words in art. 63M omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(c) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F676Words in art. 63M substituted (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), art. 1(3)(4), 2(41)substituted
F677Words in art. 63M substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 148(2)(r) (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
F678Pt. 2 Ch. 15D inserted (13.7.2009) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2009 (S.I. 2009/1389), arts. 1, 4inserted
F679Word in art. 63N(1)(b) substituted (6.6.2022) by Dormant Assets Act 2022 (c. 5), s. 34(3), Sch. 1 para. 3(2)(a); S.I. 2022/582, reg. 2substituted
F680Art. 63N(1)(c) inserted (6.6.2022) by Dormant Assets Act 2022 (c. 5), s. 34(3), Sch. 1 para. 3(2)(b); S.I. 2022/582, reg. 2inserted
F681Words in art. 63N(2) omitted (6.6.2022) by virtue of Dormant Assets Act 2022 (c. 5), s. 34(3), Sch. 1 para. 3(3)(a); S.I. 2022/582, reg. 2omitted
F682Words in art. 63N(2) inserted (6.6.2022) by Dormant Assets Act 2022 (c. 5), s. 34(3), Sch. 1 para. 3(3)(b); S.I. 2022/582, reg. 2inserted
F683Words in art. 63N(2) substituted (6.6.2022) by Dormant Assets Act 2022 (c. 5), s. 34(3), Sch. 1 para. 3(3)(c); S.I. 2022/582, reg. 2substituted
F684Words in art. 63N(2) substituted (6.6.2022) by Dormant Assets Act 2022 (c. 5), s. 34(3), Sch. 1 para. 3(3)(d); S.I. 2022/582, reg. 2substituted
F685Words in art. 63N(2) substituted (6.6.2022) by Dormant Assets Act 2022 (c. 5), s. 34(3), Sch. 1 para. 3(3)(d); S.I. 2022/582, reg. 2substituted
F686Words in art. 63N(2) inserted (6.6.2022) by Dormant Assets Act 2022 (c. 5), s. 34(3), Sch. 1 para. 3(3)(e); S.I. 2022/582, reg. 2inserted
F687Pt. 2 Ch. 15E inserted (2.4.2013) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2013 (S.I. 2013/655), arts. 1, 5inserted
F688Art. 63O revoked (1.5.2020) by The Financial Services and Markets Act 2000 (Benchmarks) Regulations 2018 (S.I. 2018/135), regs. 1(2)(b), 53(a) (with Pt. 7)
F689Art. 63P revoked (1.5.2020) by The Financial Services and Markets Act 2000 (Benchmarks) Regulations 2018 (S.I. 2018/135), regs. 1(2)(b), 53(b) (with Pt. 7)
F690Art. 63Q revoked (1.5.2020) by The Financial Services and Markets Act 2000 (Benchmarks) Regulations 2018 (S.I. 2018/135), regs. 1(2)(b), 53(c) (with Pt. 7)
F691Art. 63R revoked (1.5.2020) by The Financial Services and Markets Act 2000 (Benchmarks) Regulations 2018 (S.I. 2018/135), regs. 1(2)(b), 53(d) (with Pt. 7)
F692Arts. 63S, 63T inserted (27.2.2018) by The Financial Services and Markets Act 2000 (Benchmarks) Regulations 2018 (S.I. 2018/135), regs. 1(2), 51 (with Pt. 7)inserted
F692Arts. 63S, 63T inserted (27.2.2018) by The Financial Services and Markets Act 2000 (Benchmarks) Regulations 2018 (S.I. 2018/135), regs. 1(2), 51 (with Pt. 7)inserted
F693Words in art. 64 substituted (E.W.S.) (29.11.2018 for specified purposes, 1.4.2019 in so far as not already in force) by The Financial Services and Markets Act 2000 (Claims Management Activity) Order 2018 (S.I. 2018/1253), art. 1(2)(3), 5substituted: England, Wales and Scotlandsubstituted
F694Word in art. 64 inserted (27.4.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2002 (S.I. 2002/682), arts. 1(2)(b), 5inserted
F695Word in art. 64 inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 18inserted
F696Word in art. 64 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), arts. 1(2), 12(7)inserted
F697Words in art. 64 substituted (13.7.2009) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2009 (S.I. 2009/1389), arts. 1, 5substituted
F698Words in art. 64 substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(14)substituted
F699Comma in art. 64 substituted (27.2.2018) by virtue of The Financial Services and Markets Act 2000 (Benchmarks) Regulations 2018 (S.I. 2018/135), regs. 1(2), 52(a) (with Pt. 7)substituted
F700Words in art. 64 inserted (27.2.2018) by The Financial Services and Markets Act 2000 (Benchmarks) Regulations 2018 (S.I. 2018/135), regs. 1(2), 52(b) (with Pt. 7)inserted
F701Art. 65 and cross-heading substituted (21.8.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2002 (S.I. 2002/1776), arts. 1, 3(17)substituted
F702Words in art. 65 substituted (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), art. 1(3)(4), 2(42)substituted
F703Words in art. 65 omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(c) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F704Words in art. 66(2) substituted (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), 18(a)substituted
F705Words in art. 66(2) 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), 19(a)substituted
F706Words in art. 66(2) substituted (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. 4(24)(a) (with Pt. 4)substituted
F707Words in art. 66(2) substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 18(a)substituted
F708Art. 66(3A) 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), 10(1)(a)inserted
F709Art. 66(4A) inserted (6.4.2005) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2005 (S.I. 2005/593), arts. 1, 2(4)inserted
F710Words in art. 66(6) substituted (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), 18(b)substituted
F711Words in art. 66(6) 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), 19(b)substituted
F712Words in art. 66(6) substituted (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. 4(24)(b) (with Pt. 4)substituted
F713Art. 66(6A) 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), 18(c)inserted
F714Art. 66(6B)(6C) 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), 19(c)inserted
F715Art. 66(6D) inserted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 18(c)inserted
F716Word in art. 66(7) 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), 10(1)(b)inserted
F717Words in art. 66(7) substituted (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), 18(d)substituted
F718Words in art. 66(7) 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), 19(d)inserted
F719Words in art. 66(7) substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 18(d)substituted
F720Art. 66(8) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 19inserted
F721Words in art. 66(8) 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. 4(24)(c) (with Pt. 4)inserted
F722Word in art. 67(1) 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), 19(a)inserted
F723Words in art. 67(1) 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), 20(a)inserted
F724Word in art. 67(1) inserted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 19(a)inserted
F725Words in art. 67 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), 10(2)substituted
F726Words in art. 67(1) substituted (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), 19(b)substituted
F727Words in art. 67(1) 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), 20(b)substituted
F728Words in art. 67(1) substituted (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. 4(25)(a) (with Pt. 4)substituted
F729Words in art. 67(1)(a) substituted (1.12.2001) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2001 (S.I. 2001/3544), arts. 1(a), 9substituted
F730Art. 67(3) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 20inserted
F731Words in art. 67(3) substituted (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. 4(25)(b) (with Pt. 4)substituted
F732Word in art. 68(1) 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), 10(3)(a)inserted
F733Words in art. 68(1) substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(14)substituted
F734Words in art. 68(3) substituted (1.12.2001) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2001 (S.I. 2001/3544), arts. 1(a), 10substituted
F735Words in art. 68(3)(b)(ii) substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(14)substituted
F736Words in art. 68(9) 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), 10(3)(b)substituted
F737Words in art. 68(11) 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), 10(3)(c)substituted
F738Art. 68(12) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 21inserted
F739Words in art. 69(2)(b)(ii) substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(14)substituted
F740Word in art. 69(8) substituted (27.4.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2002 (S.I. 2002/682), arts. 1(2)(b), 13(4)substituted
F741Art. 69(10)-(12) 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), 10(4)inserted
F742Art. 69(13) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 22inserted
F743Art. 70(7) 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), 10(5)inserted
F744Art. 70(8) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 23inserted
F745Words in art. 71(2)(b) inserted (5.12.2005) by The Civil Partnership Act 2004 (Amendments to Subordinate Legislation) Order 2005 (S.I. 2005/2114), reg. 1, Sch. 16 para. 1(4)inserted
F746Words in art. 71(6)(a)(i) substituted (24.2.2010) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2010 (S.I. 2010/86), art. 1(2), Sch. para. 5(c)substituted
F747Words in art. 71(6)(a)(ii) substituted (24.2.2010) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2010 (S.I. 2010/86), art. 1(2), Sch. para. 5(d)substituted
F748Words in art. 72(1) 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), arts. 1(2), 5(2)substituted
F749Words in art. 72(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), arts. 1(2), 5(2)substituted
F750Words in art. 72(3) 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), arts. 1(2), 5(2)substituted
F751Words in art. 72(4) 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), arts. 1(2), 5(2)substituted
F752Art. 72(5A)-(5F) 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), 21substituted
F753Word in art. 72(5A) 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. 4(26)(a) (with Pt. 4)inserted
F754Words in art. 72(5A) substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 20(a)substituted
F755Words in art. 72(5B) substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 20(b)substituted
F756Words in art. 72(5C) substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 20(c)substituted
F757Words in art. 72(5D) substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 20(d)substituted
F758Words in art. 72(5E) substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 20(e)substituted
F759Art. 72(5F)(b)(iv) inserted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 20(f)inserted
F760Art. 72(5F)(c)(iv) inserted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 20(g)inserted
F761Art. 72(5F)(d)(iv) and semi-colon inserted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 20(h)inserted
F762Word in art. 72(6) 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), 10(6)inserted
F763Art. 72(8) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 24(e)inserted
F764Words in art. 72(8) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 147(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.substituted
F765Word in art. 72(8)(b) 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), 147(3) (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
F766Art. 72(9) inserted (1.4.2013) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) Regulations 2013 (S.I. 2013/504), regs. 1(2), 33(5) (with regs. 52-58)this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted
F767Art. 72(9A) inserted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), reg. 1, Sch. para. 23(3) (with regs. 7(4), 8(4), 9(1))this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted
F768Words in art. 72(9A)(a) 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), 147(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.omitted
F769Art. 72(9A)(b) and word 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), 147(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
F770Art. 72(10) 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. 4(26)(b) (with Pt. 4)inserted
F771Word in art. 72(10) 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), 147(3) (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
F772Art. 72(10A) inserted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 147(5) (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.inserted
F773Art. 72(11)(12) 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), arts. 1(2), 5(3)inserted
F774Words in art. 72(11) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 147(6) (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
F775Art. 72(11A) inserted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 147(7) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/1212, regs. 1(3), 22(3); S.I. 2019/710, regs. 1(2), 19(2)(a)(b)); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.inserted
F776Words in art. 72(12) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 147(8)(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
F777Words in art. 72(12)(a) inserted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 147(8)(b)(i) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/1212, regs. 1(3), 22(3) and S.I. 2020/1301, regs. 1, 3, Sch. para. 33(r)); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.inserted
F778Word in art. 72(12)(a) 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), 147(8)(b)(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.omitted
F779Art. 72(12)(c)(d)(e) inserted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 147(8)(c) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/1212, regs. 1(3), 22(3); S.I. 2019/710, regs. 1(2), 19(3)(a)(b)); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.inserted
F780Art. 72A omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(2) (with regs. 11-28) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)this amendment (text omitted) should be read in conjunction with other related provisions, see the commentary.omitted
F781Art. 72AA inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(16)inserted
F782Words in art. 72AA heading substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 148(1)(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
F783Words in art. 72AA(2) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 148(1)(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
F784Arts. 72B-72D 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), 11inserted
F784Arts. 72B-72D 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), 11inserted
F784Arts. 72B-72D 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), 11inserted
F785Words in art. 72B(1) omitted (1.10.2018) by virtue of The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 6(a)(i)omitted
F786Words in art. 72B(1) substituted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 6(a)(ii)substituted
F787Sum in art. 72B(1) substituted (1.1.2025) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Regulations 2024 (S.I. 2024/1239), regs. 1(2), 5(4)(a)substituted
F788Sum in art. 72B(1) substituted (1.1.2025) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Regulations 2024 (S.I. 2024/1239), regs. 1(2), 5(4)(b)substituted
F789Words in art. 72B(1) omitted (1.1.2025) by virtue of The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Regulations 2024 (S.I. 2024/1239), regs. 1(2), 5(4)(c)omitted
F790Word in art. 72B(1) omitted (1.10.2018) by virtue of The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 6(a)(iii)omitted
F791Words in art. 72B(1) inserted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 6(a)(iv)inserted
F792Words in art. 72B(1) substituted (30.6.2008 for specified purposes, 1.1.2009 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2007 (S.I. 2007/3510), arts. 1(2), 2(2) (with regs. 3-9)this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary.substituted
F793Word in art. 72B(1) added (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 6(a)(v)added
F794Words in art. 72B(1) omitted (1.10.2018) by virtue of The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 6(a)(vi)omitted
F795Words in art. 72B(1) substituted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 6(b)substituted
F796Words in art. 72B(1) inserted (30.6.2008 for specified purposes, 1.1.2009 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2007 (S.I. 2007/3510), arts. 1(2), 2(3) (with regs. 3-9)this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted
F797Words in art. 72B(1) 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), art. 1(2)(6), 9(1)omitted
F798Words in art. 72B(1) substituted (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), arts. 1(2), 13(5)substituted
F799Words in art. 72D heading substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 149(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.substituted
F800Words in art. 72D(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), 149(3) (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
F801Words in art. 72D(3)(a) substituted (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), arts. 1(2), 13(6)(a)substituted
F802Words in art. 72D(3)(b) substituted (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), arts. 1(2), 13(6)(b)substituted
F803Words in art. 72D(3)(c) substituted (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), arts. 1(2), 13(6)(c)substituted
F804Words in art. 72D(4) 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), 149(4) (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
F805Arts. 72E, 72F inserted (1.10.2005) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2005 (S.I. 2005/1518), arts. 1, 2(3)inserted
F805Arts. 72E, 72F inserted (1.10.2005) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2005 (S.I. 2005/1518), arts. 1, 2(3)inserted
F806Words in art. 72E(5) substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(15)substituted
F807Words in art. 72E(8) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 150(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
F808Words in art. 72E(8) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 150(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
F809Words in art. 72E(9) substituted (26.6.2017) by The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (S.I. 2017/692), reg. 1(2), Sch. 7 para. 17 (with regs. 8, 15)this amendment (text substituted) should be read in conjunction with other related provisions, see the commentary.substituted
F810Art. 72E(11) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 25inserted
F811Words in art. 72F(1) inserted (24.2.2010) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2010 (S.I. 2010/86), art. 1(2), Sch. para. 5(e)inserted
F812Words in art. 72F(1) substituted (31.1.2024) by The Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) (No. 2) Order 2023 (S.I. 2023/1411), arts. 1(2), 18(2)substituted
F813Words in art. 72F(1) 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), 22substituted
F814Words in art. 72F(1) substituted (31.1.2024) by The Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) (No. 2) Order 2023 (S.I. 2023/1411), arts. 1(2), 18(3)substituted
F815Words in art. 72F(1) omitted (31.1.2024) by virtue of The Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) (No. 2) Order 2023 (S.I. 2023/1411), arts. 1(2), 18(4)omitted
F816Arts. 72G, 72H 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), art. 1(3)(4), 2(43)inserted
F816Arts. 72G, 72H 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), art. 1(3)(4), 2(43)inserted
F817Words in art. 72G(3) substituted (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. 4(27)(a)(i) (with Pt. 4)substituted
F818Words in art. 72G(3) 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. 4(27)(a)(ii) (with Pt. 4)omitted
F819Art. 72G(3A)(3B) 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. 4(27)(b) (with Pt. 4)inserted
F820Word in art. 72G(3B) omitted (17.3.2016 for specified purposes, 21.3.2016 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2016 (S.I. 2016/392), art. 1(2)(3)(c), 2(20)(a)(i) (with Pt. 5)omitted
F821Art. 72G(3B)(a)(b) substituted for arts. 72G(3B)(a)-(c) (17.3.2016 for specified purposes, 21.3.2016 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), art. 1(2)(3)(c), 2(20)(a)(ii) (with Pt. 5)substituted
F822Art. 72G(3B)(b)(i) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 151(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.substituted
F823Art. 72G(3C) 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), 2(7)inserted
F824Art. 72G(4) substituted (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. 4(27)(c) (with Pt. 4)substituted
F825Art. 72G(4)(a) substituted (17.3.2016 for specified purposes, 21.3.2016 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), art. 1(2)(3)(c), 2(20)(b)(i) (with Pt. 5)substituted
F826Words in art. 72G(4)(a)(ii) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 151(3) (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
F827Words in art. 72G(4)(b) inserted (17.3.2016 for specified purposes, 21.3.2016 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), art. 1(2)(3)(c), 2(20)(b)(ii) (with Pt. 5)inserted
F828Art. 72G(4)(b)(i) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 151(4) (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
F829Art. 72G(4A) inserted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 151(5) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/1212, regs. 1(3), 22(3) and S.I. 2020/1301, regs. 1, 3, Sch. para. 33(s)); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.inserted
F830Art. 72G(6)(7) 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. 4(27)(d) (with Pt. 4)inserted
F831Art. 72G(6A)(6B) inserted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 151(6) (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.inserted
F832Words in art. 72G(7) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 151(7)(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
F833Words in art. 72G(7) inserted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 151(7)(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.inserted
F834Words in art. 72G(7) 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), 151(7)(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.omitted
F835Art. 72H(2)(da) 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), arts. 1(2), 12(8)inserted
F836Words in art. 72H(2)(m) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 132(5)(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
F837Words in art. 72H(2)(n) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 133(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.substituted
F838Art. 72H(2)(sa) inserted (16.5.2022 for specified purposes, 29.7.2022 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2022 (S.I. 2022/466), arts. 1(3), 2(4)inserted
F839Art. 72I 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. 4(28) (with Pt. 4)inserted
F840Words in art. 72I(1) inserted (17.3.2016 for specified purposes, 21.3.2016 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), art. 1(2)(3)(c), 2(21) (with Pt. 5)inserted
F841Art. 72J inserted (3.1.2018) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) (No.2) Regulations 2017 (S.I. 2017/1255), regs. 2(b), 4(3)inserted
F842Art. 74A inserted (27.4.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2002 (S.I. 2002/682), arts. 1(2)(b), 6inserted
F843Words in art. 76 inserted (8.1.2012) by The Legislative Reform (Industrial and Provident Societies and Credit Unions) Order 2011 (S.I. 2011/2687), arts. 1(1)(b), 22inserted
F844Words in art. 76(2)(b) inserted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions Act 2010 (Consequential Amendments) Regulations 2014 (S.I. 2014/1815), reg. 1(2), Sch. para. 8inserted
F845Words in art. 76(3)(c) inserted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions Act 2010 (Consequential Amendments) Regulations 2014 (S.I. 2014/1815), reg. 1(2), Sch. para. 8inserted
F846Words in art. 77(1) substituted (24.2.2010) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2010 (S.I. 2010/86), arts. 1(2), 2(2)(a)substituted
F847Words in art. 77(1) omitted (16.2.2011) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2011 (S.I. 2011/133), arts. 1(2), 2(2)(a) (with art. 4)this amendment (text omitted) should be read in conjunction with other related provisions, see the commentary.omitted
F848Art. 77(2)(e) omitted (16.2.2011) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2011 (S.I. 2011/133), arts. 1(2), 2(2)(b) (with art. 4)this amendment (text omitted) should be read in conjunction with other related provisions, see the commentary.omitted
F849Art. 77A inserted (24.2.2010) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2010 (S.I. 2010/86), arts. 1(2), 2(3)inserted
F850Words in art. 77A(1) inserted (16.2.2011) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2011 (S.I. 2011/133), arts. 1(2), 2(3) (with art. 4)this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted
F851Art. 77A(2)(f) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 152(2) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/1212, regs. 1(3), 22(3) and S.I. 2020/1301, regs. 1, 3, Sch. para. 33(t)); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F852Art. 77A(3A) inserted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 152(3) (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.inserted
F853Words in art. 78(1)(g)(i) 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), 153 (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
F854Words in art. 78(1)(g)(ii) 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), 153 (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
F855Words in art. 78(2) inserted (24.2.2010) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2010 (S.I. 2010/86), arts. 1(2), 2(4)inserted
F856Art. 78(3) inserted (24.2.2010) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2010 (S.I. 2010/86), arts. 1(2), 2(5)inserted
F857Word in art. 79(1) inserted (24.2.2010) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2010 (S.I. 2010/86), art. 1(2), Sch. para. 5(f)inserted
F858Art. 82 substituted (1.10.2006 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) Order 2006 (S.I. 2006/1969), arts. 1(2), 2(5)substituted
F859Art. 82(3)(4) inserted (6.4.2015) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2015 (S.I. 2015/731), arts. 1, 2(4)inserted
F860Art. 82ZA inserted (11.3.2024) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2024 (S.I. 2024/169), arts. 1(2), 2(2)inserted
F861Art. 82A inserted (20.7.2012) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2012 (S.I. 2012/1906), arts. 1, 2(4)inserted
F862Words in art. 82A inserted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 3(5)inserted
F863Art. 82B 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), arts. 1(2), 6inserted
F864Art. 82B(1) substituted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 3(6)substituted
F865Art. 82B(2)(a)-(d) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 155(3) (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
F866Art. 83(1): art. 83 renumbered as art. 83(1) (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 26(a)renumbered
F867Word in art. 83(1)(c) omitted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 26(b)(i)omitted
F868Art. 83(1)(e) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 26(b)(ii)inserted
F869Words in art. 83(1)(e) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 156(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.substituted
F870Art. 83(2)-(5) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 26(c)inserted
F871Words in art. 83(2)(d)(i) 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), 156(3)(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.omitted
F872Words in art. 83(2)(d)(i) 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), arts. 1(2), 7(3)(a)inserted
F873Word in art. 83(2)(d)(ii) 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), arts. 1(2), 7(3)(b)substituted
F874Words in art. 83(2)(d)(ii) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 156(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
F875Words in art. 83(3)(c) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 156(4) (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
F876Words in art. 83(3)(c) 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), arts. 1(2), 7(4)inserted
F877Art. 83(4)(a)-(d) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 156(5) (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
F878Art. 83(5) 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), 156(6) (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
F879Art. 84(1A)-(1E) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 27inserted
F880Words in art. 84(1A)(d) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 157(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.substituted
F881Words in art. 84(1A)(d) 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), arts. 1(2), 8(2)inserted
F882Word in art. 84(1B)(d) 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), arts. 1(2), 8(3)substituted
F883Words in art. 84(1B)(e) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 157(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.substituted
F884Words in art. 84(1C)(c) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 157(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.substituted
F885Words in art. 84(1C)(c) 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), arts. 1(2), 8(4)inserted
F886Art. 84(1CA) 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), arts. 1(2), 8(5)inserted
F887Words in art. 84(1CA) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 157(3)(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
F888Words in art. 84(1CA) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 157(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
F889Words in art. 84(1D) 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), arts. 1(2), 8(6)(a)substituted
F890Words in art. 84(1D) 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), arts. 1(2), 8(6)(b)substituted
F891Art. 84(1D)(a)-(d) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 157(4) (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
F892Art. 84(1E) 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), 157(5) (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
F893Art. 85(3)-(5) inserted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 28inserted
F894Words in art. 85(3)(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), 158(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.substituted
F895Art. 85(4)(a)-(d) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 158(3) (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
F896Art. 85(4A)(4B) 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), arts. 1(2), 9(3)inserted
F897Words in art. 85(4A)(c) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 158(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
F898Words in art. 85(4A)(c) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 158(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.substituted
F899Art. 85(4B)(a)-(d) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 158(3) (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
F900Art. 85(5) 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), 158(5) (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
F901Arts. 88A, 88B 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), 23inserted
F901Arts. 88A, 88B 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), 23inserted
F902Art. 88C inserted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 21inserted
F903Arts. 88D, 88E 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), art. 1(2)(6), 7inserted
F903Arts. 88D, 88E 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), art. 1(2)(6), 7inserted
F904Words in art. 89(1) 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), 24substituted
F905Words in art. 89(1) substituted (1.7.2009 for specified purposes, 30.6.2010 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2009 (S.I. 2009/1342), arts. 1(2), 22substituted
F906Art. 89(2A) inserted (6.4.2015) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2015 (S.I. 2015/731), arts. 1, 2(5)inserted
F907Words in art. 89(2A) inserted (11.3.2024) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2024 (S.I. 2024/169), arts. 1(2), 2(3)inserted
F908Art. 89(3) 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), 2(8)substituted
F909Pt. 3A 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), art. 1(2)(6), 8(2)inserted
F910Art. 89BA inserted (11.3.2024) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2024 (S.I. 2024/169), arts. 1(2), 2(4)inserted
F911Art. 89C substituted (24.3.2015) by The Financial Services and Markets Act 2000 (Miscellaneous Provisions) Order 2015 (S.I. 2015/853), arts. 1(2), 3(7)substituted
F912Art. 89D heading substituted (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), art. 1(3)(4), 2(44)substituted
F913Art. 89D(1) omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(h) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F914Art. 89D(2) 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), art. 1(3)(4), 2(45)(b)inserted
F915Word in art. 89D(2) omitted (31.12.2020) by virtue of The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 5(3)(h) (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)omitted
F916Words in art. 89E(1)(b) 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), art. 1(3)(4), 2(46)inserted
F917Words in art. 89E(2)(b) 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), art. 1(3)(4), 2(46)inserted
F918Pt. 3B inserted (E.W.S.) (29.11.2018 for specified purposes, 1.4.2019 in so far as not already in force) by The Financial Services and Markets Act 2000 (Claims Management Activity) Order 2018 (S.I. 2018/1253), art. 1(2)(3), 7inserted: England, Wales and Scotlandinserted
F919Words in art. 89V(1)(e) substituted (6.4.2025) by The Digital Markets, Competition and Consumers Act 2024 (Consequential Amendments) Regulations 2025 (S.I. 2025/381), reg. 1(2), Sch. para. 24substituted
F920Art. 90 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), art. 1(2)(6), 9(2)omitted
F921Art. 91 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), art. 1(2)(6), 9(3)omitted
F922Pt. 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), 13inserted
F923Word in Pt. V heading substituted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 7(2)substituted
F924Word in art. 92 substituted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 7(3)substituted
F925Words in art. 92 substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(a)substituted
F926Word in art. 93 substituted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 7(4)(a)substituted
F927Words in art. 93(1) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(a)substituted
F928Words in art. 93(1)(a) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(h)substituted
F929Art. 93(3A)(3B) inserted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 7(4)(b)inserted
F930Words in art. 94(1) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(a)substituted
F931Word in art. 94 substituted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 7(5)substituted
F932Words in art. 94(3)(4)(5) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(a)substituted
F933Word in art. 95(1) heading substituted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 7(6)(a)substituted
F934Words in art. 95(1)-(9) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(a)substituted
F935Word in art. 95(1) substituted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 7(6)(a)substituted
F936Art. 95(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), 159 (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
F937Words in art. 95(10) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(i)substituted
F938Word in art. 96 heading substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(j)substituted
F939Words in art. 96 substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 35(a)substituted
F940Word in art. 96(2) substituted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 7(7)substituted
F941Word in art. 96(3) substituted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 7(7)substituted
F942Pt. 6 and heading inserted (15.7.2004) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2004 (S.I. 2004/1610), arts. 1(2), 3inserted
F943Words in Sch. 1 Pt. II para. 2 inserted (5.12.2005) by The Civil Partnership Act 2004 (Amendments to Subordinate Legislation) Order 2005 (S.I. 2005/2114), reg. 1, Sch. 16 para. 1(5)inserted
F944Words in Sch. 1 Pt. II para. 8 substituted (1.1.2016) by The Solvency 2 Regulations 2015 (S.I. 2015/575), reg. 1(2), Sch. 2 para. 11(5)(a)substituted
F945Words in Sch. 1 Pt. II para. 9 substituted (1.1.2016) by The Solvency 2 Regulations 2015 (S.I. 2015/575), reg. 1(2), Sch. 2 para. 11(5)(b)substituted
F946Sch. 2 substituted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment No. 3) Order 2006 (S.I. 2006/3384), arts. 1(2), 29substituted
F947Sch. 2 heading substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(2) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F948Sch. 2 Pt. 1 heading omitted (31.12.2020) by virtue of The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(3)(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.omitted
F949Words in Sch. 2 Pt. 1 para. 4 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), arts. 1(2), 10(3)(a)inserted
F950Word in Sch. 2 Pt. 1 para. 5 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), arts. 1(2), 10(3)(b)(i)substituted
F951Word in Sch. 2 Pt. 1 para. 5 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), arts. 1(2), 10(3)(b)(ii)substituted
F952Word in Sch. 2 Pt. 1 para. 6 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), arts. 1(2), 10(3)(c)(i)substituted
F953Words in Sch. 2 Pt. 1 para. 6 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(3)(b)(i) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F954Words in Sch. 2 Pt. 1 para. 6 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), arts. 1(2), 10(3)(c)(ii)substituted
F955Words in Sch. 2 Pt. 1 para. 6 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(3)(b)(ii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F956Sch. 2 Pt. 1 para. 7 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), arts. 1(2), 10(3)(d)substituted
F957Words in Sch. 2 Pt. 1 para. 7 inserted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(3)(c) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/710, regs. 1(2), 16(2)(a)); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.inserted
F958Sch. 2 Pt. 1 para. 10 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), arts. 1(2), 10(3)(e)substituted
F959Words in Sch. 2 Pt. 1 para. 10 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(3)(d) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F960Sch. 2 Pt. 1 para. 11 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), arts. 1(2), 10(3)(f)inserted
F961Words in Sch. 2 Pt. 1 para. 11 inserted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 3(7)inserted
F962Sch. 2 Pt. 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), arts. 1(2), 10(4)substituted
F963Words in Sch. 2 Pt. 2 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(4)(a)(i) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/710, regs. 1(2), 16(2)(b)(i)); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F964Words in Sch. 2 Pt. 2 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(4)(a)(ii) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/710, regs. 1(2), 16(2)(b)(i)); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F965Words in Sch. 2 Pt. 2 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(4)(a)(ii) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/710, regs. 1(2), 16(2)(b)(i)); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F966Words in Sch. 2 Pt. 2 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(4)(a)(ii) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/710, regs. 1(2), 16(2)(b)(i))); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F967Words in Sch. 2 Pt. 2 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(4)(a)(ii) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/710, regs. 1(2), 16(2)(b)(i)); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F968Words in Sch. 2 Pt. 2 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(4)(a)(ii) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/710, regs. 1(2), 16(2)(b)(i)); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F969Words in Sch. 2 Pt. 2 substituted (31.12.2020) by S.I. 2018/1403, reg. 4(4)(b)(i) (as substituted by The Financial Services (Miscellaneous) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/710), regs. 1(2), 16(2)(b)(ii) (as amended by S.I. 2018/1403, reg. 004(04)(b)(i)); 2020 c. 1, Sch. 5 para. 1(1))substituted
F970Words in Sch. 2 Pt. 2 substituted (31.12.2020) by S.I. 2018/1403, reg. 4(4)(b)(i) (as substituted by The Financial Services (Miscellaneous) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/710), regs. 1(2), 16(2)(b)(ii) (as amended by S.I. 2018/1403, reg. 004(04)(b)(i)); 2020 c. 1, Sch. 5 para. 1(1))substituted
F971Words in Sch. 2 Pt. 2 substituted (31.12.2020) by S.I. 2018/1403, reg. 4(4)(b)(ii) (as substituted by The Financial Services (Miscellaneous) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/710), regs. 1(2), 16(2)(b)(ii) (as amended by S.I. 2018/1403, reg. 004(04)(b)(ii)); 2020 c. 1, Sch. 5 para. 1(1))substituted
F972Words in Sch. 2 Pt. 2 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(4)(c)(i)(aa) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F973Words in Sch. 2 Pt. 2 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(4)(c)(i)(bb) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F974Words in Sch. 2 Pt. 2 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(4)(c)(i)(cc) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F975Words in Sch. 2 Pt. 2 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(4)(c)(i)(dd) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F976Words in Sch. 2 Pt. 2 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(4)(c)(ii)(aa) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F977Words in Sch. 2 Pt. 2 omitted (31.12.2020) by virtue of The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(4)(c)(ii)(bb) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.omitted
F978Words in Sch. 2 Pt. 2 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(4)(c)(iii)(aa) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F979Words in Sch. 2 Pt. 2 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(4)(c)(iii)(bb) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F980Words in Sch. 2 Pt. 2 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(4)(d)(i) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F981Words in Sch. 2 Pt. 2 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(4)(d)(ii)(aa) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F982Words in Sch. 2 Pt. 2 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(4)(d)(ii)(bb) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F983Words in Sch. 2 Pt. 2 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(4)(d)(iii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F984Words in Sch. 2 Pt. 2 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(4)(d)(iv) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F985Words in Sch. 2 Pt. 2 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(4)(e) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F986Words in Sch. 2 Pt. 2 renumbered (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(4)(f)(i) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.renumbered
F987Words in Sch. 2 Pt. 2 omitted (31.12.2020) by virtue of The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(4)(f)(ii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.omitted
F988Words in Sch. 2 Pt. 2 inserted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(4)(f)(iii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.inserted
F989Words in Sch. 2 Pt. 3 para. 8 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), arts. 1(2), 10(5)(a)substituted
F990Sch. 2 Pt. 3 para. 9 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), arts. 1(2), 10(5)(b)inserted
F991Sch. 2 Pt. 3A inserted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(5) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.inserted
F992Sch. 2 Pt. 4 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), arts. 1(2), 10(6)substituted
F993Words in Sch. 2 Pt. 4 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(6) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F994Sch. 2 Pt. 5 inserted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(7) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.inserted
F995Sch. 3 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(8) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/1233, regs. 1(3), 3 and S.I. 2019/710, regs. 1(2), 16(2)(c)); 2020 c. 1, Sch. 5 para. 1(1)this amendment is subject to savings and/or transitional provisions, see the commentary.substituted
F996Sch. 3 para. 1(ba) omitted (31.12.2024) by virtue of The Insurance and Reinsurance Undertakings (Prudential Requirements) (Amendment and Miscellaneous Provisions) Regulations 2024 (S.I. 2024/1083), regs. 1(2)(b), 13omitted
F997Words in Sch. 3 Pt. 1 para. 2(c) substituted (1.1.2025) by The Financial Services and Markets Act 2000 (Commodity Derivatives and Emission Allowances) Order 2023 (S.I. 2023/548), arts. 1(2), 2(5)substituted
F998Sch. 4 omitted (1.1.2025) by virtue of The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Regulations 2024 (S.I. 2024/1239), regs. 1(2), 5(5)omitted
F999Sch. 4A inserted (E.W.S.) (15.7.2014) by The Financial Services and Markets Act 2000 (Regulated Activities) (Green Deal) (Amendment) Order 2014 (S.I. 2014/1850), arts. 1(2), 11 (with art. 1(3))this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary.inserted: England, Wales and Scotlandinserted
F1000Sch. 5 revoked (1.5.2020) by The Financial Services and Markets Act 2000 (Benchmarks) Regulations 2018 (S.I. 2018/135), regs. 1(2)(b), 53(e) (with Pt. 7)
F1001Sch. 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), 132(5)(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
F1002Schs. 6-8 inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(17)inserted
F1003Words in Sch. 8 para. 1 inserted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 161(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.inserted
F1004Sch. 8 paras. 1A, 1B inserted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 161(3) (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.inserted
F1004Sch. 8 paras. 1A, 1B inserted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 161(3) (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.inserted
F1005Sch. 8 para. 4 substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 161(4) (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
F10061993 c.48.
F1007Words in Sch. 8 para. 5 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), 161(5)(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.omitted
F1008Words in Sch. 8 para. 5 substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 161(5)(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
F1009Words in Sch. 8 para. 5 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), 161(5)(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.omitted
F1010Sch. 8 para. 11 omitted (coming into force in accordance with reg. 1(4) of the amending S.I.) by virtue of The Alternative Investment Fund Managers (Amendment) Regulations 2013 (S.I. 2013/1797), Sch. 2 para. 2this amendment (omitted text) is marked as yet to come into force, see the commentary.omitted
F1011Words in Sch. 8 para. 11 substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 161(6)(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
F1012Words in Sch. 8 para. 11 inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), regs. 1, 81(3)inserted
F1013Words in Sch. 8 para. 11 substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 161(6)(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
I1Art. 59 in force at 1.1.2002, see art. 2(2)(a)
I2Art. 61 in force at 31.10.2004, see art. 1(2)(b) (as read with Treasury notice dated 9.7.2003)
I3Art. 62 in force at 31.10.2004, see art. 1(2)(b) (as read with Treasury notice dated 9.7.2003)
I4Art. 63 in force at 31.10.2004, see art. 1(2)(b) (as read with Treasury notice dated 9.7.2003)
I5Art. 87 in force at 1.1.2002, see art. 2(2)(a)
I6Art. 88 in force at 31.10.2004, see art. 1(2)(b) (as read with Treasury notice dated 9.7.2003)
M12000 c. 8.
M21972 c. 70. The definition of “local authority" in section 270 of the 1972 Act has been amended by Sch. 17 to the Local Government Act 1985 (c. 51); and by section 1(5) of the Local Government (Wales) Act 1994 (c. 19).
M31973 c. 65. The definition of “local authority" in section 235 of the 1973 Act was substituted by para. 92(66) of Sch. 13 to the Local Government etc. (Scotland) Act 1994 (c. 39).
M41972 c. 9 (N.I.).
M52014 c.14.
M6S.I. 1985/1205 (N.I. 12).
M71969 c. 24 (N.I.).
M8The Financial Services and Markets Act 2000 (Carrying on Regulated Activities by Way of Business) Order 2001 (S.I. 2001/ ), made under section 419 of the Act, makes provision as to the circumstances in which persons are, or are not, to be regarded as carrying on activities by way of business.
M91987 c. 22. Section 3 was amended by the Bank of England Act 1998 (c. 11), Sch. 5, paras 1 and 3. “Municipal bank" is defined in section 103 of the Banking Act 1987, which was amended by the Local Government Act 1992 (c. 19), Sch. 3, para. 22, and by the Local Government and Rating Act 1997 (c. 29), Sch. 3, para. 21.
M101974 c. 47.
M11S.I. 1976/582 (N.I. 12); relevant amending instrument is S.I. 1989/1343 (N.I. 14).
M121980 c. 46.
M131985 c. 61; section 9 was amended by para. 54 of Sch. 18 to the Courts and Legal Services Act 1990, and by para. 1 of Sch. 4 to the European Communities (Lawyer's Practice) Regulations 2000 (S.I. 2000/1119), and was repealed in part by Part II of Sch. 15 to the Access to Justice Act 1999.
M14Inserted by article 10 of the Solicitors (Amendment) (Northern Ireland) Order 1989 (S.I. 1989/1343) (N.I. 14).
M151990 c. 41; section 89 was amended by para. 14 of Sch. 4 to the European Communities (Lawyer's Practice) Regulations 2000 (S.I. 2000/1119).
M16Amended by para. 29(15) of Sch. 8 to the Law Reform (Miscellaneous Provisions) (Scotland) Act 1990 (c. 40).
M17Inserted by section 32 of the Law Reform (Miscellaneous Provisions) (Scotland) Act 1990 (c. 40).
M18S.I. 2000/1119.
M19Scottish Statutory Instruments 2000 No. 121.
M201982 c. 14.
M211871 c. 21.
M22S.I. 2001/ .
M231986 c. 53.
M241968 c. 13.
M251972 c. 65.
M26S.I. 1999/2725, amended by S.I. 2000/1797.
M271972 c. 70. Section 140 was amended by the Local Government (Miscellaneous Provisions) Act 1982 (c. 30), s. 39(1) and Sch. 7, Part XVI; by the Insurance Companies Act 1982 (c. 50), Sch. 5, para. 13; and by the London Regional Transport Act 1984 (c. 32), Sch. 7. Section 140A was inserted by s. 39(2) of the Local Government (Miscellaneous Provisions) Act 1982 (c. 30), and amended by the Planning (Consequential Provisions) Act 1990 (c. 10), Sch. 2, para. 28, and by the Environment Act 1995 (c. 25), Sch. 24. Section 140B was inserted by s. 39(2) of the Local Government (Miscellaneous Provisions) Act 1982, and amended by the Local Government Act 1985 (c. 51), Sch. 17, and by the Local Government (Wales) Act 1994 (c. 19), Sch. 15, para. 31.
M281871 c.xxi
M29S.I. 2012/3038.
M302006 c.46.
Defined TermSection/ArticleIDScope of Application
a claim for a specified benefitart. 89F. of PART 3Ba_claim_fo_rtX49zF
a group of connected individualsart. 70. of Chapter XVII of PART IIa_group_of_rtOnC8O
a limited companyart. 72E. of Chapter XVII of PART IIa_limited__rtuETBj
a recognised bodyart. 7. of Chapter II of PART IIa_recognis_rtKxhte
a regulated activityart. 13. of Chapter III of PART IIa_regulate_rt60kjpalert
a relevant memberart. 92. of PART Va_relevant_rt0H6Xd
acting as an insolvency practitionerart. 3. of PART Iacting_as__rtcGWoM
administeringart. 61. of Chapter XV of PART IIadminister_rtbOjqJ
administeringart. 63B. of Chapter XVA of PART IIadminister_rtKbNLh
administeringart. 63F. of Chapter XVB of PART IIadminister_rtdub4N
administeringart. 63J. of Chapter XVC of PART IIadminister_rtHFszq
administering a benchmarkart. 63S. of Chapter 15E of PART IIadminister_lgCHDR4
administrationart. 51ZA. of Chapter X of PART IIadministra_rtK6wR9
advocacy servicesart. 36F. of Chapter 6A of PART IIadvocacy_s_rt3vHhv
advocacy servicesart. 39K. of Chapter 7B of PART IIadvocacy_s_rtCvyF9
advocacy servicesart. 89C. of Exclusions of PART 3Aadvocacy_s_rtkOH3t
affiliated undertakingart. 24B. of Chapter 5A of PART IIaffiliated_rtHcRIf
agreement providerart. 3. of PART Iagreement__rtzsZoV
agreement providerart. 63J. of Chapter XVC of PART IIagreement__rtZGrHN
agreement sellerart. 3. of PART Iagreement__rtVANky
agreement sellerart. 63J. of Chapter XVC of PART II(the_“_prnr0kBA
AIFMart. 3. of PART IAIFM_lg1lRHC
aircraft operatorart. 3. of PART Iaircraft_o_rt2K0z7
allowancesart. 3. of PART Iallowances_rtUT0uI
alternative investment fund managers directiveart. 3. of PART Ialternativ_rt1FJjR
an Article 2.1(j) activityart. 72J. of Chapter XVII of PART II(“_prni0IcA
ancillary insurance intermediaryart. 33B. of Chapter VI of PART IIancillary__lg6Sl8T
annuities on human lifeart. 3. of PART Iannuities__rtBsHOn
ARart. 95. of PART VAR_rtHms5p
article 36H agreementart. 36H. of Chapter 6B of PART IIarticle_36_rt3cAo8
assignmentart. 3. of PART Iassignment_lgt5BhC
assignmentart. 36H. of Chapter 6B of PART IIassignment_rtjOkR7
assignmentart. 60L. of Chapter 14A of PART IIassignment_rtves7r
associateart. 60L. of Chapter 14A of PART IIassociate_rtEvAAi
auction platformart. 3. of PART Iauction_pl_rtwGrRk
authorised contractual schemeart. 51ZB. of Chapter X of PART IIauthorised_rtdlVFB
authorised contractual schemeart. 51ZD. of Chapter X of PART IIauthorised_rtkOs0m
authorised payment institutionart. 9AB. of Chapter II of PART IIauthorised_rt3kKOL
authorised unit trust schemeart. 51ZB. of Chapter X of PART IIauthorised_lgJJ94m
authorised unit trust schemeart. 51ZD. of Chapter X of PART IIauthorised_rty3nrs
borrowerart. 25A. of Chapter VI of PART IIborrower_rt7faWf
borrowerart. 3. of PART Iborrower_lgZd6z5
borrowerart. 36H. of Chapter 6B of PART IIborrower_rtBLOwk
borrowerart. 39M. of Chapter 7B of PART IIborrower_rt9oL8L
borrowerart. 53A. of Chapter XII of PART IIborrower_rtpdC4e
borrowerart. 60L. of Chapter 14A of PART IIborrower_rt1Va3s
borrowerart. 60LA. of Chapter 14A of PART IIborrower_rtg2bz9
borrowerart. 61A. of Chapter XV of PART IIborrower_rtFOlGT
borrowerart. 72G. of Chapter XVII of PART IIborrower_lgyhx44
borrower-lender agreementart. 60L. of Chapter 14A of PART IIborrower-l_rtGMTln
borrower-lender agreementart. 60L. of Chapter 14A of PART IIborrower-l_rtSe6vM
borrower-lender agreementart. 60L. of Chapter 14A of PART IIborrower-l_rtU8hbg
borrower-lender agreementart. 61A. of Chapter XV of PART IIborrower-l_rt2JU27
borrower-lender-supplier agreementart. 60L. of Chapter 14A of PART IIborrower-l_rtw2HeD
borrower-lender-supplier agreementart. 60L. of Chapter 14A of PART IIborrower-l_rtf98M4
borrower-lender-supplier agreementart. 60L. of Chapter 14A of PART IIborrower-l_rtzFjcx
borrower-lender-supplier agreementart. 60L. of Chapter 14A of PART IIborrower-l_rt1Kxio
borrower-lender-supplier agreementart. 61A. of Chapter XV of PART IIborrower-l_lgFAjw0
Bounce Back Loan Schemeart. 60C. of Chapter 14A of PART IIBounce_Bac_rtGCRpd
breakdownart. 12. of Chapter III of PART IIbreakdown_rtlLtMx
bridging loanart. 60G. of Chapter 14A of PART IIbridging_l_lgQIHkq
bridging loanart. 61A. of Chapter XV of PART IIbridging_l_lg1Ofsf
bridging loanart. 72G. of Chapter XVII of PART IIbridging_l_lgKXXy8
Business Angel-led Enterprise Capital Fundart. 72F. of Chapter XVII of PART IIBusiness_A_rtOKkET
business groupingart. 24B. of Chapter 5A of PART IIbusiness_g_rtkvPy3
buy-to-let mortgage contractart. 61A. of Chapter XV of PART IIbuy-to-let_lgrSxXj
buyingart. 3. of PART Ibuying_rtyc20V
care homeart. 63B. of Chapter XVA of PART IIcare_home_rtXhgZR
care home serviceart. 63B. of Chapter XVA of PART IIcare_home__rtHmIbm
Cash balance benefitart. 53E. of Chapter XII of PART IICash_balan_rtnjUJq
central maintenance servicepara 1. of PART 3A of SCHEDULE2central_ma_rt3YuXg
certified personart. 9C. of CHAPTER IIA of PART IIcertified__rtla80m
certified sophisticated investorart. 72F. of Chapter XVII of PART IIcertified__rtdqJ77
charityart. 89O. of PART 3Bcharity_rtTeeoI
claimantart. 89F. of PART 3Bclaimant_rtBMiLM
clientart. 33A of Chapter VI of PART IIclient_rtn5Bqr
clientart. 39M. of Chapter 7B of PART IIclient_rtMgyRq
clientart. 60LA. of Chapter 14A of PART IIclient_rtlpMgv
clientart. 60S. of Chapter 14B of PART IIclient_rtxwP4V
clientart. 89E. of Supplemental of PART 3Aclient_rtygmSN
clientsart. 33. of Chapter VI of PART II(“_prnpZvnK
clientsart. 39M. of Chapter 7B of PART IIclients_rtZbECP
clientsart. 60LA. of Chapter 14A of PART IIclients_rtN8mWb
clientsart. 60S. of Chapter 14B of PART IIclients_rtRb5jw
clientsart. 89E. of Supplemental of PART 3Aclients_rtMdn60
close relativeart. 3. of PART Iclose_rela_rtL5sRq
collective portfolio managementart. 51ZA. of Chapter X of PART IIcollective_lgUtYnP
commercial paperart. 9. of Chapter II of PART IIcommercial_rt2JArr
community benefit societyart. 36FA. of Chapter 6A of PART IIcommunity__rtTSPGw
community interest company limited by guaranteeart. 36FA. of Chapter 6A of PART IIcommunity__rtHmppM
companyart. 18. of Chapter IV of PART IIcompany_rtjLWNw
companyart. 34. of Chapter VI of PART IIcompany_rt4xREW
conditional sale agreementart. 60L. of Chapter 14A of PART IIconditiona_rtHrnhX
connect to the Money and Pensions Service dashboards digital architectureart. 89BA. of The activities of PART 3Aconnect_to_lgsCkP9
connected contract of insuranceart. 72B. of Chapter XVII of PART IIconnected__rtUvue6
consumerart. 36J. of Chapter 6B of PART IIconsumer_rtB7Z5Z
consumerart. 39M. of Chapter 7B of PART IIconsumer_rtgbFXV
consumerart. 39M. of Chapter 7B of PART IIconsumer_rtVUvQI
consumerart. 60LA. of Chapter 14A of PART IIconsumer_rtaBDvY
consumerart. 60LA. of Chapter 14A of PART IIconsumer_rtsDVel
consumerart. 60S. of Chapter 14B of PART IIconsumer_rtRkRXs
consumerart. 60S. of Chapter 14B of PART IIconsumer_rtlXl8s
consumerart. 72G. of Chapter XVII of PART IIconsumer_lgwFKbe
consumerart. 89E. of Supplemental of PART 3Aconsumer_rtIaJH6
consumerart. 89E. of Supplemental of PART 3Aconsumer_rtUKr6P
consumer buy-to-let mortgage businessart. 72I. of Chapter XVII of PART IIconsumer_b_rtEE9TE
consumer hire agreementart. 3. of PART Iconsumer_h_lgz61ry
consumer hire agreementart. 3. of PART Iconsumer_h_rthOJTx
consumer hire agreementart. 60N. of Chapter 14B of PART IIconsumer_h_rtYLoNF
contract of general insuranceart. 3. of PART Icontract_o_rtwGEce
contract of insuranceart. 3. of PART Icontract_o_rtTmo9B
contract of long-term insuranceart. 3. of PART Icontract_o_rtPLHa1
contractually based investmentart. 3. of PART Icontractua_rtZtZR6
creditart. 36H. of Chapter 6B of PART IIcredit_rtJ89bq
creditart. 60L. of Chapter 14A of PART IIcredit_rtBm2F3
creditart. 61. of Chapter XV of PART IIcredit_rtUtKOr
creditart. 72G. of Chapter XVII of PART IIcredit_lgBAK4q
credit agreementart. 3. of PART Icredit_agr_lgRcOyB
credit agreementart. 3. of PART Icredit_agr_rtL8TNX
credit agreementart. 60B. of Chapter 14A of PART IIcredit_agr_rt6S1Gy
credit agreementart. 60B. of Chapter 14A of PART IIcredit_agr_rtKvMZw
credit agreementart. 60L. of Chapter 14A of PART IIcredit_agr_rtkEeTP
credit agreementart. 60L. of Chapter 14A of PART IIcredit_agr_rtsiE2E
Credit information agencyart. 89A. of The activities of PART 3ACredit_inf_rthwOf7
credit limitart. 60L. of Chapter 14A of PART IIcredit_lim_rtF6fzJ
credit unionart. 36FA. of Chapter 6A of PART IIcredit_uni_rtNGaZM
credit unionart. 60L. of Chapter 14A of PART IIcredit_uni_rtFvp8L
credit unionart. 61A. of Chapter XV of PART IIcredit_uni_lgxZgvm
criminal injury claimart. 89F. of PART 3Bcriminal_i_rtdWUPz
Crown employmentart. 60H. of Chapter 14A of PART IICrown_empl_lgrSuNS
current bill payerart. 60LB. of Chapter 14A of PART IIcurrent_bi_rtYQlH7
current bill payerart. 60LB. of Chapter 14A of PART IIcurrent_bi_rtmYDTM
customerart. 68. of Chapter XVII of PART IIcustomer_rtZxztA
dealing with unwanted asset moneyart. 63N of Chapter 15D of PART IIdealing_wi_lgqA2Ap
debenture warrantsart. 18. of Chapter IV of PART IIdebenture__rtEWpwL
debenture warrantsart. 34. of Chapter VI of PART IIdebenture__rtWk5lL
debenturesart. 18. of Chapter IV of PART IIdebentures_rtB11eR
debenturesart. 34. of Chapter VI of PART IIdebentures_rtAaQxw
debenturesart. 71. of Chapter XVII of PART IIdebentures_rt5SVMu
defendantart. 89F. of PART 3Bdefendant_rtzijQC
definitionsart. 72. of Chapter XVII of PART IIdefinition_rtFUHX0
dematerialised instructionart. 45. of Chapter IX of PART IIdematerial_rtiAZb7
dematerialised instructionart. 69. of Chapter XVII of PART IIdematerial_rtWHodv
depositart. 3. of PART Ideposit_rtMYOFg
depositart. 5. of Chapter II of PART IIdeposit_rtb58JZ
depositart. 60L. of Chapter 14A of PART IIdeposit_rtXALrC
depositaryart. 51ZB. of Chapter X of PART IIdepositary_lgE2Mln
depositaryart. 51ZD. of Chapter X of PART IIdepositary_lgQJMaU
depositaryart. 51ZD. of Chapter X of PART IIdepositary_rtUwV1f
designated professional bodyart. 92. of PART Vdesignated_rt80rJ0
disposingart. 3. of PART Idisposing_rt9uWNb
domestic propertyart. 60LB. of Chapter 14A of PART IIdomestic_p_rtv0hRA
dormant assets fundsart. 63N of Chapter 15D of PART IIdormant_as_rt4Q4wn
EEA authorised electronic money institutionart. 9AB. of Chapter II of PART IIEEA_author_rtCYGWy
electronic moneyart. 3. of PART Ielectronic_rt499sZ
electronic money institutionart. 9AB. of Chapter II of PART IIelectronic_rtsWkT7
emission allowance auctioning regulationart. 3. of PART Iemission_a_rtyH3Ly
emission allowance trading directiveart. 3. of PART Iemission_a_rtP0R3m
employment related claimart. 89F. of PART 3Bemployment_rtOCL1f
enactmentart. 6. of Chapter II of PART IIenactment_rtnCX2R
energy billart. 60LB. of Chapter 14A of PART IIenergy_bil_rtvVb9G
energy efficiency improvementsart. 60LB. of Chapter 14A of PART IIenergy_eff_rtKhTa8
equivalence decisionart. 72. of Chapter XVII of PART IIequivalenc_rtVttiI
equivalence determinationart. 72. of Chapter XVII of PART IIequivalenc_lgVS8nf
EU trading venueart. 77A. of PART IIIEU_trading_lg9ohSb
exempt agreementart. 60B. of Chapter 14A of PART IIexempt_agr_rtlD1BZ
exempt agreementart. 60L. of Chapter 14A of PART IIexempt_agr_rt0lIiE
exempt agreementart. 60N. of Chapter 14B of PART IIexempt_agr_rtXHvXW
exempt consumer buy-to-let mortgage contractart. 61A. of Chapter XV of PART IIexempt_con_rtNyoS5
exempt equitable mortgage bridging loanart. 61A. of Chapter XV of PART IIexempt_equ_rtsN1Zl
exempt housing authority loanart. 61A. of Chapter XV of PART IIexempt_hou_rtfyqdG
feeart. 36C. of Chapter 6A of PART IIfee_rteRTmH
feeart. 36FA. of Chapter 6A of PART IIfee_rtkVg5A
financeart. 60L. of Chapter 14A of PART IIfinance_rtm5IcI
financial instrumentart. 3. of PART Ifinancial__rtAThEY
financial services or financial product claimart. 89F. of PART 3Bfinancial__rtwLQd9
first bill payerart. 60LB. of Chapter 14A of PART IIfirst_bill_rtTnpd9
first bill payerart. 60LB. of Chapter 14A of PART IIfirst_bill_rtG90jp
fixed-sum creditart. 60L. of Chapter 14A of PART IIfixed-sum__rt37ESM
flexible benefitart. 53E. of Chapter XII of PART IIflexible_b_rto9GAM
flexible benefitart. 53E. of Chapter XII of PART IIflexible_b_rtqytWn
former underwriting memberart. 13. of Chapter III of PART IIformer_und_rt1pYHY
full-scope UK AIFMart. 3. of PART IlegTermRGNjysRM
funeral plan contractart. 3. of PART Ifuneral_pl_rtbjhsr
funeral plan contractart. 59. of Chapter XIV of PART IIfuneral_pl_rtpJsYQ
funeral plan contractart. 59. of Chapter XIV of PART IIfuneral_pl_lgpiAO1
Great Britainart. 89F. of PART 3BGreat_Brit_rtoK6P3
green deal credit agreementart. 60LB. of Chapter 14A of PART IIgreen_deal_rtBv7aa
green deal planart. 3. of PART Igreen_deal_rtOPoTy
green deal planart. 39I. of Chapter 7B of PART IIgreen_deal_rtfsmkb
greenhouse gas emissions allowancesart. 3. of PART Igreenhouse_rtjQSc2
high net worth companyart. 72F. of Chapter XVII of PART IIhigh_net_w_rt17L1f
high net worth individualart. 72F. of Chapter XVII of PART IIhigh_net_w_rtVUxuR
high net worth individualart. 72F. of Chapter XVII of PART IIhigh_net_w_rtlyg9i
high net worth unincorporated associationart. 72F. of Chapter XVII of PART IIhigh_net_w_rt7YeZj
high value trustart. 72F. of Chapter XVII of PART IIhigh_value_rtzctk1
hire-purchase agreementart. 3. of PART Ihire-purch_lg5Zf4y
hire-purchase agreementart. 60L. of Chapter 14A of PART IIhire-purch_rtIqx7D
hirerart. 3. of PART Ihirer_lgV4aiy
hirerart. 60S. of Chapter 14B of PART IIhirer_rtLl27y
holding companyart. 3. of PART Iholding_co_rthd7jQ
holding companypara 1. of SCHEDULE 8holding_co_rtz0MRKalert
home purchase providerart. 3. of PART Ihome_purch_rt2fqGa
home purchase providerart. 63F. of Chapter XVB of PART IIhome_purch_rtp0YyA
home purchaserart. 3. of PART Ihome_purch_rtKuA1K
home purchaserart. 63F. of Chapter XVB of PART II(the_“_prnYN6TF
home purchaserart. 63F. of Chapter XVB of PART IIhome_purch_rtoI0lU
home Stateart. 3. of PART Ihome_State_rtATIl7
housing authorityart. 60E. of Chapter 14A of PART IIhousing_au_rtR4vEz
housing disrepair claimart. 89F. of PART 3Bhousing_di_rtzkx4h
improvement costsart. 60LB. of Chapter 14A of PART IIimprovemen_rtHoTDP
improverart. 60LB. of Chapter 14A of PART IIimprover_rtOWObK
improverart. 60LB. of Chapter 14A of PART IIimprover_rt4gz3O
independent trade unionart. 89S. of PART 3Bindependen_rtAGSxw
instrumentart. 3. of PART Iinstrument_rtuxLfD
insurance distributionart. 33B. of Chapter VI of PART IIinsurance__lg6E8yv
insurance distributionart. 4. of Chapter I of PART IIinsurance__lg04JlY
insurance intermediaryart. 33B. of Chapter VI of PART IIinsurance__lgaKVlz
international securities businessart. 35. of Chapter VI of PART IIinternatio_rtocxsH
investigatingart. 89F. of PART 3Binvestigat_rt1Uy33
investment advicepara Article 9 of PART 4 of SCHEDULE2investment_lg0PWDj
investment firmart. 3. of PART Iinvestment_lgDpUhN
investment property loanart. 61A. of Chapter XV of PART IIinvestment_rtYVaKq
joint enterpriseart. 3. of PART Ijoint_ente_rtiYa4q
landart. 61. of Chapter XV of PART IIland_rtnP7aS
large risks contract of insuranceart. 72D. of Chapter XVII of PART IIlarge_risk_rtd0nA5
legal practitionerart. 89N. of PART 3Blegal_prac_rtvSaQn
legal practitionerart. 89N. of PART 3Blegal_prac_rtMzTrr
legal practitionerart. 89V. of PART 3Blegal_prac_rtovsZx
legitimate approachart. 72. of Chapter XVII of PART IIlegitimate_rtkEZzK
lenderart. 25A. of Chapter VI of PART IIlender_rtdh9tS
lenderart. 3. of PART Ilender_lgUNwL3
lenderart. 36H. of Chapter 6B of PART IIlender_rt91KcS
lenderart. 60L. of Chapter 14A of PART IIlender_rtejURv
lenderart. 61A. of Chapter XV of PART IIlender_rtY3RgL
lifestylingart. 52B. of CHAPTER XIA of PART IIlifestylin_rtWHILh
limited interest second charge credit union loanart. 61A. of Chapter XV of PART IIlimited_in_rtjOKfL
limited payment second charge bridging loanart. 61A. of Chapter XV of PART IIlimited_pa_rtMKeVY
linked transactionart. 60E. of Chapter 14A of PART IIlinked_tra_rtGG2Oz
litigation servicesart. 36F. of Chapter 6A of PART IIlitigation_rtDahzb
litigation servicesart. 39K. of Chapter 7B of PART IIlitigation_rtZWEJ5
litigation servicesart. 89C. of Exclusions of PART 3Alitigation_rtXHii8
local authorityart. 3. of PART Ilocal_auth_rtQUXzG
management companyart. 3. of PART Imanagement_lgEZgMB
management of dormant assets fundsart. 63N of Chapter 15D of PART IImanagement_lgmn6fx
managing agentart. 3. of PART Imanaging_a_rtbBT4z
market operatorart. 3. of PART Imarket_ope_lgrZsVM
market threshold calculationart. 72J. of Chapter XVII of PART IImarket_thr_rt61uap
markets in financial instruments directiveart. 3. of PART Imarkets_in_rtSGYAR
markets in financial instruments regulationart. 3. of PART Imarkets_in_rtB4qeo
memberart. 52B. of CHAPTER XIA of PART IImember_rtTXf4R
memberart. 89S. of PART 3Bmember_rtrPYu0
member of the Societyart. 13. of Chapter III of PART IImember_of__rtcX7D1
members of the publicart. 15. of Chapter IV of PART IImembers_of_rtPHSb3
members of the publicart. 68. of Chapter XVII of PART IImembers_of_rtoRik3
members of the publicart. 69. of Chapter XVII of PART IImembers_of_rty7tch
money market instrumentspara Article 11 of PART 2 of SCHEDULE2money_mark_lgaWMiW
Money purchase benefitsart. 53E. of Chapter XII of PART IIMoney_purc_rtAch0m
money-lenderart. 30. of Chapter VI of PART IImoney-lend_rt2egBP
mortgageart. 61. of Chapter XV of PART IImortgage_lgSJ42T
MTFart. 3. of PART IMTF_lgAoSAr
MTFspara PART 1 of SCHEDULE 3MTFs_rtBQum5
multi-national partnershipart. 7. of Chapter II of PART IImulti-nati_rt37ONo
multi-national practiceart. 7. of Chapter II of PART IImulti-nati_rtNzaBb
multilateral trading facilityart. 3. of PART Imultilater_rt5iUcg
non-equity MiFID instrumentart. 25DA. of Chapter VI of PART IInon-equity_rtdR5f1
non-motor goodsart. 72B. of Chapter XVII of PART IInon-motor__rtooB4z
non-residentart. 72. of Chapter XVII of PART IInon-reside_rtzNJpV
not-for-profit agencyart. 89O. of PART 3Bnot-for-pr_rt10szh
occupational pension schemeart. 3. of PART Ioccupation_rt19gHN
occupierart. 60LB. of Chapter 14A of PART IIoccupier_rtsxjjr
offerorart. 48. of Chapter IX of PART IIofferor_rt6mFxm
official sourceart. 72J. of Chapter XVII of PART IIofficial_s_rtEjBsf
operatorart. 3. of PART Ioperator_rtrsOFJ
operatorart. 53. of Chapter XII of PART IIoperator_rthKw1O
ordinarily residentart. 89F. of PART 3Bordinarily_rt2lUaz
organised trading facilityart. 3. of PART Iorganised__rtuhSVM
OTFart. 3. of PART IOTF_lgQfKOE
overseas personart. 3. of PART Ioverseas_p_rtB0s8J
ownerart. 3. of PART Iowner_lgo2HJn
ownerart. 60LB. of Chapter 14A of PART IIowner_rtMjxrV
ownerart. 60N. of Chapter 14B of PART IIowner_rtSeHvE
parent undertakingart. 24B. of Chapter 5A of PART IIparent_und_rt3ktQl
parent undertakingpara 1. of SCHEDULE 8parent_und_lg1NBtz
paymentart. 60F. of Chapter 14A of PART IIpayment_rtxOI8W
paymentart. 60L. of Chapter 14A of PART IIpayment_rtwEI5x
paymentart. 61A. of Chapter XV of PART IIpayment_lgucC3c
payment service userart. 9AB. of Chapter II of PART IIpayment_se_rtOdyMy
payment servicesart. 9AB. of Chapter II of PART IIpayment_se_rtXDjQl
pension fund management contractart. 3. of PART Ipension_fu_rtFlCJs
pension schemeart. 53E. of Chapter XII of PART IIpension_sc_rtGf1hg
pensions dashboard serviceart. 89BA. of The activities of PART 3Apensions_d_lg0lkpq
personal injury claimart. 89F. of PART 3Bpersonal_i_rtpJgq7
personal pension schemeart. 3. of PART Ipersonal_p_rtoHekN
physically settledpara Article 5 of PART 2 of SCHEDULE2physically_rtHMQ2lalert
physically settledpara Article 5 of PART 2 of SCHEDULE2physically_rt67azT
physically settledpara Article 5 of PART 2 of SCHEDULE2physically_rtD1KZZ
plan providerart. 3. of PART Iplan_provi_rt8TNOc
plan providerart. 63B. of Chapter XVA of PART IIplan_provi_rtLuEP9
portfolio managementart. 3. of PART Iportfolio__lg1iNfk
practising solicitorart. 7. of Chapter II of PART IIpractising_rto4Gnc
previous bill payerart. 60LB. of Chapter 14A of PART IIprevious_b_rttHONA
previous bill payerart. 60LB. of Chapter 14A of PART IIprevious_b_rtbrb6G
propertyart. 3. of PART Iproperty_rtPrs8d
propertyart. 60LB. of Chapter 14A of PART IIproperty_rtJ887x
providerart. 59. of Chapter XIV of PART IIprovider_rtdWgr1
providerart. 72B. of Chapter XVII of PART IIprovider_rtqUPQF
public bodiesart. 24B. of Chapter 5A of PART IIpublic_bod_rtG7CE4
qualifying agreementart. 72. of Chapter XVII of PART IIqualifying_rtvDmrp
qualifying contract of insuranceart. 3. of PART Iqualifying_rtd5rMQ
qualifying credit institutionart. 3. of PART Iqualifying_lgZKkJB
qualifying custodianart. 41. of Chapter VIII of PART IIqualifying_rtoW2YR
qualifying custodianart. 42. of Chapter VIII of PART IIqualifying_rtgwpdX
qualifying custodianart. 66. of Chapter XVII of PART IIqualifying_rtM9f8K
qualifying interestart. 63B. of Chapter XVA of PART IIqualifying_rtxb3Ob
qualifying interestart. 63J. of Chapter XVC of PART IIqualifying_rtsKkbg
Qualifying public offerart. 25DB. of Chapter VI of PART IIQualifying_lgeqYiV
qualifying termination eventart. 63B. of Chapter XVA of PART IIqualifying_rtdXuAa
qualifying termination eventart. 63B. of Chapter XVA of PART IIqualifying_rtkT5t4
receptionart. 3. of PART Ireception_rtj4olD
reclaim fundart. 63N of Chapter 15D of PART IIreclaim_fu_rtZW9ni
recognised auction platformart. 24A. of Chapter 5A of PART IIrecognised_rti4rHF
recorded insurance intermediaryart. 92. of PART Vrecorded_i_rtIM5rP
recorded insurance intermediaryart. 93. of PART Vrecorded_i_rtBUwgX
refinanceart. 60L. of Chapter 14A of PART IIrefinance_rtzTh90
register of securitiesart. 69. of Chapter XVII of PART IIregister_o_rtrWzta
registered charityart. 36FA. of Chapter 6A of PART IIregistered_rtCo3Gp
registered consumer buy-to-let mortgage firmart. 72I. of Chapter XVII of PART IIregistered_rtDsfIy
registered European lawyerart. 7. of Chapter II of PART IIregistered_rtslbKX
registered European lawyerart. 7. of Chapter II of PART IIregistered_rtR0D5T
registered foreign lawyerart. 7. of Chapter II of PART IIregistered_rt0GzUn
registered social landlordart. 36FA. of Chapter 6A of PART IIregistered_rtYu0sz
regulated activitiesart. 13. of Chapter III of PART IIregulated__rtM3wv8alert
regulated consumer hire agreementart. 3. of PART Iregulated__lgmiJxs
regulated consumer hire agreementart. 60N. of Chapter 14B of PART IIregulated__rt3rGtt
regulated credit agreementart. 3. of PART Iregulated__lg9RXbc
regulated credit agreementart. 53DA. of Chapter XII of PART IIregulated__lgdYTKd
regulated credit agreementart. 60B. of Chapter 14A of PART IIregulated__rtRvwNH
regulated credit agreementart. 60L. of Chapter 14A of PART IIregulated__rtkA63k
regulated home purchase planart. 3. of PART Iregulated__rtcaLnG
regulated home purchase planart. 61A. of Chapter XV of PART IIregulated__lggQKbR
regulated home purchase planart. 63F. of Chapter XVB of PART IIregulated__rtUIPdl
regulated home reversion planart. 3. of PART Iregulated__rtm8sGe
regulated home reversion planart. 63B. of Chapter XVA of PART IIregulated__rtfpvDS
regulated marketspara PART 1 of SCHEDULE 3regulated__rtWNfvn
regulated mortgage contractart. 3. of PART Iregulated__rtbVBCQ
regulated mortgage contractart. 61. of Chapter XV of PART IIregulated__rtxqqzh
regulated mortgage contractart. 61. of Chapter XV of PART IIregulated__rtJbSwO
regulated sale and rent back agreementart. 3. of PART Iregulated__rtewfHS
regulated sale and rent back agreementart. 63J. of Chapter XVC of PART IIregulated__rtee0Lz
reinsurance distributionart. 33B. of Chapter VI of PART IIreinsuranc_lgf37PU
reinsurance distributionart. 4. of Chapter I of PART IIreinsuranc_lgt1DPK
reinsurance intermediaryart. 33B. of Chapter VI of PART IIreinsuranc_lg4wP95
related personart. 60D. of Chapter 14A of PART IIrelated_pe_rtpxukQ
related personart. 61. of Chapter XV of PART IIrelated_pe_rteeemF
related personart. 61A. of Chapter XV of PART IIrelated_pe_lgb0nEz
related personart. 63B. of Chapter XVA of PART IIrelated_pe_rtsg4t7
related personart. 63J. of Chapter XVC of PART IIrelated_pe_rtw5ZMD
related sale or supplyart. 68. of Chapter XVII of PART IIrelated_sa_rte1o2b
relativeart. 60L. of Chapter 14A of PART IIrelative_rt113Nl
relevant agreementart. 36E. of Chapter 6A of PART IIrelevant_a_lgJ9lL7
relevant agreementart. 36J. of Chapter 6B of PART IIrelevant_a_rtqJqKi
relevant article 36H agreementart. 39F. of Chapter 7B of PART IIrelevant_a_rtWX3M1
relevant article 36H agreementart. 39G. of Chapter 7B of PART IIrelevant_a_rtvme4a
relevant article 36H agreementart. 53. of Chapter XII of PART IIrelevant_a_rtqJ4f7
relevant authorised personart. 30. of Chapter VI of PART IIrelevant_a_rtwjRGi
relevant businessart. 19. of Chapter IV of PART IIrelevant_b_rtK1snu
relevant businessart. 23. of Chapter V of PART IIrelevant_b_rtxvLKp
relevant credit agreement relating to the purchase of landart. 60E. of Chapter 14A of PART IIrelevant_c_rtJUF7I
relevant credit agreement relating to the purchase of landart. 60E. of Chapter 14A of PART IIrelevant_c_rt476cp
relevant dataart. 72J. of Chapter XVII of PART IIrelevant_d_rtqgrHm
relevant energy supplierart. 39I. of Chapter 7B of PART IIrelevant_e_rtduRx7
relevant housing provisionart. 60E. of Chapter 14A of PART IIrelevant_h_rtfFOEZ
relevant insurerart. 33B. of Chapter VI of PART IIrelevant_i_rteujYm
relevant insurerart. 39B. of CHAPTER VIIA of PART IIrelevant_i_rtkc5jM
relevant insurerart. 39B. of CHAPTER VIIA of PART IIrelevant_i_rts1cqh
relevant investmentart. 3. of PART Irelevant_i_rt020gJ
relevant personart. 23. of Chapter V of PART IIrelevant_p_rtaUFmE
relevant personart. 36F. of Chapter 6A of PART IIrelevant_p_rtkfpge
relevant personart. 36H. of Chapter 6B of PART IIrelevant_p_rtpIKU1
relevant personart. 36J. of Chapter 6B of PART IIrelevant_p_rtqqX5b
relevant personart. 39K. of Chapter 7B of PART IIrelevant_p_rtwkzJA
relevant personart. 89C. of Exclusions of PART 3Arelevant_p_rtWTSYy
relevant provisionsart. 36A. of Chapter 6A of PART IIrelevant_p_rtEoD4i
relevant recipient of creditart. 3. of PART Irelevant_r_lgYUvPp
relevant recipient of creditart. 60L. of Chapter 14A of PART IIrelevant_r_rtjgOZR
relevant reinsurerart. 39B. of CHAPTER VIIA of PART IIrelevant_r_rtYmajt
relevant securitiesart. 25DB. of Chapter VI of PART IIrelevant_s_lgrLF4D
relevant securitiesart. 25DB. of Chapter VI of PART IIrelevant_s_lgbNSZZ
relevant stakeholder pension schemeart. 52B. of CHAPTER XIA of PART IIrelevant_s_rt4frMy
relevant transactionart. 30. of Chapter VI of PART IIrelevant_t_rtvGqH6
relevant trusteeart. 71. of Chapter XVII of PART IIrelevant_t_rtqiA0z
remunerationart. 33B. of Chapter VI of PART IIremunerati_lg2DvrF
repayment claimsart. 63N of Chapter 15D of PART IIrepayment__rtcXjzM
representingart. 89F. of PART 3Brepresenti_rte2QFV
restricted public loanart. 60HA. of Chapter 14A of PART IIrestricted_lgAGKVq
restricted public loanart. 72G. of Chapter XVII of PART IIrestricted_lgbKREd
restricted-use credit agreementart. 3. of PART Irestricted_lgcfcWM
restricted-use credit agreementart. 60L. of Chapter 14A of PART IIrestricted_rtgmVG9
restricted-use credit agreementart. 60L. of Chapter 14A of PART IIrestricted_rts81mf
restricted-use credit agreementart. 60L. of Chapter 14A of PART IIrestricted_rtkTb33
retail consumerart. 52B. of CHAPTER XIA of PART IIretail_con_rtADyjh
reversion sellerart. 3. of PART Ireversion__rtaSWNv
reversion sellerart. 63B. of Chapter XVA of PART II(the_“_prnMbOS2
reversion sellerart. 63F. of Chapter XVB of PART IIreversion__rtEQitg
running-account creditart. 60L. of Chapter 14A of PART IIrunning-ac_rtI6VCs
running-account creditart. 60L. of Chapter 14A of PART IIrunning-ac_rttS2Dx
safeguarded benefitsart. 53E. of Chapter XII of PART IIsafeguarde_rtUov70
safeguarded benefitsart. 53E. of Chapter XII of PART IIsafeguarde_rtCjad6
schemeart. 52B. of CHAPTER XIA of PART IIscheme_rtCf681
second charge business loanart. 61A. of Chapter XV of PART IIsecond_cha_rtxcRN2
securitisation repositoryart. 3. of PART Isecuritisa_rtO1Sb7
securityart. 3. of PART Isecurity_rtPhluJ
securityart. 60L. of Chapter 14A of PART IIsecurity_rtyYrvG
self-certified sophisticated investorart. 72F. of Chapter XVII of PART IIself-certi_rtoLHyY
self-certified sophisticated investorart. 72F. of Chapter XVII of PART IIself-certi_rtjsVzr
sellingart. 3. of PART Iselling_rtDxzCG
settlement bankart. 45. of Chapter IX of PART IIsettlement_rtjxKrv
share warrantsart. 18. of Chapter IV of PART IIshare_warr_rtuzJlh
share warrantsart. 34. of Chapter VI of PART IIshare_warr_rt89qSW
sharesart. 18. of Chapter IV of PART IIshares_rtsd4Jf
sharesart. 34. of Chapter VI of PART IIshares_rt5U5xL
sharesart. 71. of Chapter XVII of PART IIshares_rt4vDhq
shares held as treasury sharesart. 18A. of Chapter IV of PART IIshares_hel_rtWoYNN
small businessart. 72B. of Chapter XVII of PART IIsmall_busi_rtAs4GJ
small payment institutionart. 9AB. of Chapter II of PART IIsmall_paym_rtnOyCf
small registered UK AIFMart. 3. of PART IlegTermvczjgeVO
sophisticated investorart. 72F. of Chapter XVII of PART IIsophistica_rtLZ9u6
specifiedart. 9G. of CHAPTER IIA of PART IIspecified_rt4trIN
stakeholder pension schemeart. 3. of PART Istakeholde_rtO1uuW
stakeholder productart. 52B. of CHAPTER XIA of PART IIstakeholde_rt5ugTS
state-owned entitiesart. 24B. of Chapter 5A of PART IIstate-owne_rtjXzfa
structured depositart. 3. of PART Istructured_rtPu6To
studentsart. 89T. of PART 3Bstudents_rtjcqj8
studentsart. 89T. of PART 3Bstudents_rt1VzbT
submissionart. 3. of PART Isubmission_rtGhXsL
subsidiaryart. 3. of PART Isubsidiary_rt8Qhp9
subsidiaryart. 36FA. of Chapter 6A of PART IIsubsidiary_rtDW1yY
subsidiaryart. 60E. of Chapter 14A of PART IIsubsidiary_rtzRcL3
subsidiaryart. 72G. of Chapter XVII of PART IIsubsidiary_rtufvBs
subsidiarypara 1. of SCHEDULE 8subsidiary_lgFfuv8
subsidiary undertakingart. 24B. of Chapter 5A of PART IIsubsidiary_rtTb1XR
subsidiary undertakingpara 1. of SCHEDULE 8subsidiary_rtYkzEx
subsisting rightart. 53E. of Chapter XII of PART IIsubsisting_rtkZ06h
supplierart. 39H. of Chapter 7B of PART IIsupplier_rtlHfIS
supplierart. 68. of Chapter XVII of PART IIsupplier_rtSSJQQ
survivorart. 53E. of Chapter XII of PART IIsurvivor_rtTY4za
Swiss lawyerart. 7. of Chapter II of PART IISwiss_lawy_rtVriWW
syndicateart. 3. of PART Isyndicate_rt2T2IR
system-participantart. 45. of Chapter IX of PART IIsystem-par_rtARvc1
takeover offerart. 48. of Chapter IX of PART IItakeover_o_rtyeLyT
the 2001 Regulationsart. 45. of Chapter IX of PART IIthe_2001_R_rt5XKN8
the Actart. 3. of PART Ithe_Act_rt2UmU1
the additional paymentsart. 77A. of PART III(“_prnrBjcX
the appropriate regulatorart. 72J. of Chapter XVII of PART IIthe_approp_rttba8g
the assistanceart. 12. of Chapter III of PART IIthe_assist_rtCqVSq
the available amountart. 53E. of Chapter XII of PART IIthe_availa_rtzo1Dk
the bond assetsart. 77A. of PART III(“_prnKQbAD
the bond termart. 77A. of PART III(“_prnNRVbL
the bond-holderart. 77A. of PART IIIthe_bond-h_rtmcVu2
the bond-issuerart. 77A. of PART IIIthe_bond-i_rtjUJvb
the borrowerart. 36J. of Chapter 6B of PART IIthe_borrow_rtRYKF9
the borrowerart. 61. of Chapter XV of PART IIthe_borrow_lg4WBht
the capitalart. 77A. of PART IIIthe_capita_rtwXVfz
the claimantart. 89W. of PART 3Bthe_claima_rtc2pEd
the clientart. 22. of Chapter V of PART IIthe_client_rtGbWZG
the clientart. 29. of Chapter VI of PART IIthe_client_rtNnFUg
the Commission Regulationart. 3. of PART Ithe_Commis_rtPbktd
the contractart. 59. of Chapter XIV of PART IIthe_contra_rtcIW2h
the customerart. 59. of Chapter XIV of PART IIthe_custom_rteV9Uy
the defendantart. 89W. of PART 3Bthe_defend_rtDPyFJ
the delegated regulationart. 72J. of Chapter XVII of PART IIthe_delega_rt1ej6n
the hirerart. 60N. of Chapter 14B of PART IIthe_hirer_rtueqTd
the hirerart. 60S. of Chapter 14B of PART IIthe_hirer_rtu79k7
the introducerart. 89V. of PART 3Bthe_introd_rtfVBWI
the lenderart. 36J. of Chapter 6B of PART IIthe_lender_rtJDCcb
the lenderart. 61. of Chapter XV of PART IIthe_lender_lgWVN2R
the ownerart. 60N. of Chapter 14B of PART IIthe_owner_rtVTW7y
the participatorsart. 3. of PART Ithe_partic_rtMLLMy
the permitted periodart. 51ZG. of Chapter X of PART IIthe_permit_lgWASVF
the person’s firmart. 3. of PART Ithe_person_rtAm7H8
the principal agreementart. 60E. of Chapter 14A of PART IIthe_princi_rtJQ1XG
the proposed undertakingart. 59. of Chapter XIV of PART II(“_prnlYG4u
the providerart. 12. of Chapter III of PART II(“_prnq6tQl
the providerart. 59. of Chapter XIV of PART IIthe_provid_rtwGJdT
the recordart. 92. of PART Vthe_record_rtmwBxw
the redemption paymentart. 77A. of PART III(“_prnDReYq
the relevant capacityart. 72. of Chapter XVII of PART IIthe_releva_rtzEmEU
the relevant type of agreementart. 72. of Chapter XVII of PART IIthe_releva_rtqg97m
the relevant vehicleart. 12. of Chapter III of PART IIthe_releva_rtoAFLu
the specified amountart. 60L. of Chapter 14A of PART IIthe_specif_rtE2VNu
the supplierart. 60L. of Chapter 14A of PART IIthe_suppli_rt5IJ60
the supplierart. 60L. of Chapter 14A of PART IIthe_suppli_rt95j2v
the supplierart. 60L. of Chapter 14A of PART IIthe_suppli_rtepa23
the supplierart. 60L. of Chapter 14A of PART IIthe_suppli_rtd1LuY
the supplierart. 60L. of Chapter 14A of PART IIthe_suppli_rty3E9T
the underlying riskart. 13A. of CHAPTER 3A of PART II(“_prn4EUYs
third country firmart. 72. of Chapter XVII of PART IIthird_coun_rt6Cz0B
timeshare accommodationart. 63B. of Chapter XVA of PART IItimeshare__rtWtGb2
timeshare accommodationart. 63J. of Chapter XVC of PART IItimeshare__lgkPG28
total charge for creditart. 60L. of Chapter 14A of PART IItotal_char_rt8TpVb
total charge for creditart. 61A. of Chapter XV of PART IItotal_char_lgjvyFW
total priceart. 60L. of Chapter 14A of PART IItotal_pric_rt52V4C
trade repositoryart. 3. of PART Itrade_repo_lg3v8WP
trading scheme orderart. 3. of PART Itrading_sc_rt1Y7Ep
trading venuespara PART 1 of SCHEDULE 3trading_ve_rt60hqx
transmissionart. 3. of PART Itransmissi_rtc28a2
travel risksart. 72B. of Chapter XVII of PART II(“_prn3jWC4
trusteeart. 51ZB. of Chapter X of PART IItrustee_lg9GNEG
trusteeart. 51ZD. of Chapter X of PART IItrustee_rtxJAIB
trustees or managersart. 53E. of Chapter XII of PART IItrustees_o_rtmZE81
turnoverart. 72B. of Chapter XVII of PART IIturnover_rtGieZA
turnoverart. 72D. of Chapter XVII of PART IIturnover_rtGnM3a
UKart. 89F. of PART 3BUK_rtM9fiH
UK auctioning regulationsart. 3. of PART IUK_auction_rtxTAtk
UK MTFspara PART 1 of SCHEDULE 3UK_MTFs_rtSxNbi
UK regulated marketart. 3. of PART IUK_regulat_lgDi7VN
UK regulated marketspara PART 1 of SCHEDULE 3UK_regulat_rtrDfuv
UK residentart. 60H. of Chapter 14A of PART IIUK_residen_rt8TRsI
UK trading venueart. 77A. of PART IIIUK_trading_lgeM1Wu
UK trading venuespara PART 1 of SCHEDULE 3UK_trading_rtF17Kw
UK UCITSart. 3. of PART IUK_UCITS_lgZFRbS
uncrystallised funds pension lump sumart. 53E. of Chapter XII of PART IIuncrystall_rt46Mc2
unlisted companyart. 72F. of Chapter XVII of PART IIunlisted_c_rtwN5bT
unrestricted-use credit agreementart. 60L. of Chapter 14A of PART IIunrestrict_rt20dGY
voting sharesart. 3. of PART Ivoting_sha_rtZ8jjM
wholly-owned subsidiaryart. 72G. of Chapter XVII of PART IIwholly-own_lgkxjas
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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