Statutory Instruments
2005 No. 1532
FINANCIAL SERVICES AND MARKETS
The Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) (Amendment) Order 2005
Made
8th June 2005
Laid before Parliament
9th June 2005
Coming into force
1st July 2005
The Treasury, in exercise of the powers conferred on them by sections 238(6) and (7) and 428(3) of the Financial Services and Markets Act 2000( 1 ), hereby make the following Order:
1. This Order may be cited as the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) (Amendment) Order 2005 and comes into force on 1st July 2005.
2. —(1)The Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001( 2 ) is amended as follows.
(2) In article 23A (self-certified sophisticated investors)( 3 ) -
(a) delete paragraph (4)(a) and the word “and” immediately following it;
(b) in paragraph (4)(b), delete “in the case of a real time communication,”; and
(c) in paragraph (5), after “buying” insert “the”.
(3) In paragraph (a) of article 24 (associations of high net worth or sophisticated investors) after “an association” insert “, or to a member of an association,” and after “article 23” insert “or 23A”.
Joan Ryan
Tom Watson
Two of the Lords Commissioners of Her Majesty’s Treasury
8th June 2005
S.I.2001/1060 ; a relevant amending instrument is S.I.2005/270 .
Article 23A was inserted by S.I.2005/270 .