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The Financial Services and Markets Act 2000 (Exemption) (Amendment) (No. 2) Order 2003
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- 2003 No. 1675
- Explanatory Note
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Explanatory Note
(This note is not part of the Order)
This Order amends the Financial Services and Markets Act 2000 (Exemption) Order 2001 (S.I. 2001/1201) (“the Exemption Order”). The Exemption Order provides for certain persons to be exempt from the general prohibition which is imposed by section 19 of the Financial Services and Markets Act 2000 on carrying on a regulated activity in the United Kingdom unless authorised under that Act.
This Order includes the regulated activity of assisting in the administration and performance of a contract of insurance as an activity for which those persons listed in Part III of the Schedule to the Exemption Order are exempt.
This Order provides that Partnerships UK is exempt in relation to the carrying on of regulated activities relating to investment services. The Order revokes the exemption of Treasury Taskforce.
This Order extends the exemptions of local authorities and certain bodies involved with the provision of social housing to include the carrying on of regulated activities relating to the arranging of, and advice in relation to, regulated mortgage contracts and activities relating to certain insurance contracts.
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