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2. In the Financial Services and Markets Act 2000 (Carrying on Regulated Activities by Way of Business) Order 2001(1) after article 4 insert—
5. A person (“A”) who carries on an activity of the kind specified by article 63J(1) of the Regulated Activities Order (entering into a regulated sale and rent back agreement)(2) is to be regarded as carrying on that activity by way of business except where A is a related person in relation to the agreement seller within the meaning of article 63J(4)(c) of the Regulated Activities Order.
6.—(1) Article 5 ceases to have effect on 1st January 2015.
(2) Before the end of 2012, the Treasury must—
(a)carry out a review of article 5;
(b)set out the conclusions of the review in a report; and
(c)publish the report.
(3) The report must in particular—
(a)set out the objectives intended to be achieved by article 5;
(b)assess the extent to which those objectives are achieved; and
(c)assess whether those objectives remain appropriate and, if so, the extent to which they could be achieved with a scheme that imposes less regulation.”.
S.I. 2001/1177, to which there are amendments not relevant to this Order.
S.I. 2001/544. Article 63J was inserted by S.I. 2009/1342 and amended by S.I. 2010/2960.
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