This Order makes the Royal Institution of Chartered Surveyors a designated professional body for the purposes of Part 20 of the Financial Services and Markets Act 2000 (c. 8) (“the Act”). This enables members of the Institution (subject to other conditions set out in section 327 of the Act) to be exempt from the requirement to obtain permission from the Financial Services Authority in order to carry out certain regulated activities (as provided for in accordance with section 22 of the Act).