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5. (1) Section 4(1) of the Act does not prevent the provision of a regulated claims management service by a person if in providing that service, he is carrying on a regulated activity for the purposes of section 19 of the Financial Services and Markets Act 2000(1) (“FSMA”), or would be doing so except that—
(a)he is an exempt person (that is, a person who is exempt from the general prohibition under FSMA), or
(b)he has the benefit of an exclusion under the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001(2).
(2) In paragraph (1)(a),“general prohibition” has the meaning given by FSMA.
(3) References in paragraph (1) to a regulated activity carried on by a person must be read with—
(a)section 22 of FSMA;
(b)any relevant order under that section; and
(c)Schedule 2 to FSMA.
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