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Financial Services and Markets Act 2000
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- UK Public General Acts
- 2000 c. 8
- SCHEDULE 2A
- PART 2
- Alignment of law and...
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Changes over time for: Cross Heading: Alignment of law and practice
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- 01/09/2023- Amendment
- 07/10/2023
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Financial Services and Markets Act 2000, Cross Heading: Alignment of law and practice is up to date with all changes known to be in force on or before 01 November 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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[F1Alignment of law and practiceU.K.
Textual Amendments
F1Sch. 2A inserted (1.9.2023 for specified purposes) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 6; S.I. 2023/934, reg. 2(a)
8(1)The Treasury may not approve a regulated activity under paragraph 5, or identify an activity as corresponding to an approved activity under paragraph 6, unless they are satisfied that, having regard to the objectives in paragraph 7(1), the relevant law and practice of the United Kingdom and Gibraltar are sufficiently aligned.U.K.
(2)In this paragraph, “the relevant law and practice” means—
(a)in relation to the United Kingdom, law and practice under which the carrying on of what is or would be the approved activity is authorised and supervised and other law and practice relevant to the carrying on of that activity,
(b)in relation to Gibraltar, law and practice under which the carrying on of what would be the corresponding activity is authorised and supervised and other law and practice relevant to the carrying on of that activity, and
(c)in relation to both the United Kingdom and Gibraltar, law and practice relevant to the objectives in paragraph 7(1).
(3)The reference to alignment between the law and practice of the United Kingdom and Gibraltar in sub-paragraph (1) includes both alignment as regards the effect of the law and practice and alignment of the text of the law and of any guidance or other documents relating to practice.]
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