Statutory Instruments
2015 No. 489
Financial Services And Markets
The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (Pensions Guidance Exclusions) Order 2015
Made
4th March 2015
Laid before Parliament
5th March 2015
Coming into force
26th March 2015
The Treasury, in exercise of the powers conferred by section 22(1) and (5) of, and paragraph 25(1)(a) of Schedule 2 to, the Financial Services and Markets Act 2000( 1 ), make the following Order.
Citation and commencement
1. This Order may be cited as the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (Pensions Guidance Exclusions) Order 2015 and comes into force on 26th March 2015.
Amendments to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001
2. —(1)The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001( 2 ) is amended as follows.
(2) In article 3 (interpretation) insert in paragraph 1 in the appropriate place—
“ “designated guidance provider” has the meaning given by section 333E(1) of the Act ( 3 ) . ”
(3) After article 35A (trade repositories) insert—
“ Providing pensions guidance under Part 20A of the Act
35B. —(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 under arrangements made with the Treasury pursuant to section 333B of the Act ( 4 ) .
(2) For the purposes of paragraph (1), pensions guidance given by a designated guidance provider is given under arrangements made with the Treasury. ” .
(4) After article 39K (activities carried on by members of the legal profession etc ) insert—
“ Activities carried on by reason of providing pensions guidance under Part 20A of the Act
39KA. —(1) There are excluded from article 39E activities carried on by reason of providing pensions guidance under arrangements made with the Treasury pursuant to section 333B of the Act.
(2) For the purposes of paragraph (1), pensions guidance given by a designated guidance provider is given under arrangements made with the Treasury. ” .
(5) After article 52B (providing basic advice on stakeholder products) insert—
“ Exclusion
Providing pensions guidance under Part 20A of the Act
52C. —(1) A person does not carry on an activity of the kind specified in article 52B by reason of providing pensions guidance under arrangements made with the Treasury pursuant to section 333B of the Act.
(2) For the purposes of paragraph (1), pensions guidance given by a designated guidance provider is given under arrangements made with the Treasury. ” .
(6) After article 54A (advice given in the course of administration by authorised person) insert—
“ Advice given by reason of providing pensions guidance under Part 20A of the Act
54B. —(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 under arrangements made with the Treasury pursuant to section 333B of the Act.
(2) For the purposes of paragraph (1), pensions guidance given by a designated guidance provider is given under arrangements made with the Treasury. ” .
Mark Lancaster
Harriett Baldwin
Two of the Lords Commissioners of Her Majesty’s Treasury
4th March 2015
2000 c. 8 . Section 22 and paragraph 25 of Schedule 2 were amended by sections 7(1) and 8(2) of the Financial Services Act 2012 (c. 21) .
S.I. 2001/544 amended by S.I. 2003/1475 , 2003/1476 , 2004/2737 , 2005/593 , 2006/2383 , 2006/3384 , 2009/1342 , 2013/472 , 2013/504 , and 2013/1881 . There are other amending instruments, but they are not relevant.
Section 333E of the Financial Services and Markets Act 2000 (c. 8) was inserted by Schedule 3 to the Pension Schemes Act 2015 (c. 8) .
Section 333B of the Financial Services and Markets Act 2000 (c. 8) was inserted by Schedule 3 to the Pension Schemes Act 2015 (c. 8) .