Valid from 20/12/2001
Textual Amendments
F1Sch. 3A inserted (20.12.2001) by 2001 c. 24, s. 3, Sch. 2 Pt. 3 para. 6; S.I. 2001/4019, art. 2(1)(c)
Textual Amendments
F2Sch. 3A Pt. 1 substituted (1.3.2004 with effect in accordance with art. 1 of the amending S.I.) by The Terrorism Act 2000 (Business in the Regulated Sector and Supervisory Authorities) Order 2003 (S.I. 2003/3076), arts. 1, 2, Sch.
1(1)A business is in the regulated sector to the extent that it engages in any of the following activities—
(a)accepting deposits by a person with permission under Part 4 of the Financial Services and Markets Act 2000 (c. 8) to accept deposits (including, in the case of a building society, the raising of money from members of the society by the issue of shares);
(b)the business of the National Savings Bank;
(c)business carried on by a credit union;
(d)any home-regulated activity carried on by a European institution in respect of which the establishment conditions in paragraph 13 of Schedule 3 to the Financial Services and Markets Act 2000, or the service conditions in paragraph 14 of that Schedule, are satisfied;
(e)any activity carried on for the purpose of raising money authorised to be raised under the National Loans Act 1968 (c. 13) under the auspices of the Director of Savings;
(f)the activity of operating a bureau de change, transmitting money (or any representation of monetary value) by any means or cashing cheques which are made payable to customers;
(g)any activity falling within sub-paragraph (2);
(h)any of the activities in points 1 to 12 or 14 of Annex 1 to the Banking Consolidation Directive, ignoring an activity described in any of paragraphs (a) to (g) above;
(i)business which consists of effecting or carrying out contracts of long term insurance by a person who has received official authorisation pursuant to Article 6 or 27 of the First Life Directive.
(2)An activity falls within this sub-paragraph if it constitutes any of the following kinds of regulated activity in the United Kingdom—
(a)dealing in investments as principal or as agent;
(b)arranging deals in investments;
(c)managing investments;
(d)safeguarding and administering investments;
(e)sending dematerialised instructions;
(f)establishing (and taking other steps in relation to) collective investment schemes;
(g)advising on investments.
(3)Paragraphs (a) and (i) of sub-paragraph (1) and sub-paragraph (2) must be read with section 22 of the Financial Services and Markets Act 2000 (c. 8), any relevant order under that section and Schedule 2 to that Act.