The Financial Services and Markets Act 2000 (Gaming Contracts) Order 2001

Statutory Instruments

2001 No. 2510

FINANCIAL SERVICES AND MARKETS

The Financial Services and Markets Act 2000 (Gaming Contracts) Order 2001

Made

12th July 2001

Laid before Parliament

13th July 2001

Coming into force

in accordance with article 1

The Treasury, in exercise of the powers conferred upon them by section 412(2) and (6) of the Financial Services and Markets Act 2000(1) (“the Act”), hereby make the following Order:

1.  This Order may be cited as the Financial Services and Markets Act 2000 (Gaming Contracts) Order 2001 and comes into force on the day on which section 19 of the Act comes into force.

2.—(1) Any activity of the kind—

(a) specified by article 14 or 21 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001(2) (“the Regulated Activities Order”) (dealing in investments as principal or agent);

(b) specified by article 64 of that Order (agreeing to carry on specified kinds of activity), so far as relevant to either of those articles; or

(c) which would be so specified apart from any exclusion from any of those articles made by that Order;

is specified for the purposes of paragraph (b) of subsection (2) of section 412 of the Act (contracts not to be void or unenforceable because of the law relating to gaming).

(2) The class of investment consisting of securities and contractually based investments (within the meaning of the Regulated Activities Order) is specified for the purposes of paragraph (c) of subsection (2) of that section.

Nick Ainger

Tony McNulty

Two of the Lords Commissioners of Her Majesty’s Treasury

12th July 2001

Explanatory Note

(This note is not part of the Order)

This Order specifies kinds of activity and a class of investment for the purposes of section 412 of the Financial Services and Markets Act 2000 (c. 8.). A contract which is entered into by either or each party by way of business and relates to an investment of a specified class is, where the entering into or performance of it by either party constitutes an activity of a specified kind, not void or unenforceable by virtue of the law relating to gaming.

(1)

2000 c. 8.

(2)

S.I. 2001/544.