PART 9 AMENDMENTS TO SECONDARY LEGISLATION

The Stakeholder Pension Schemes Regulations 2000 (S.I. 2000/1403)

597 Meaning of “proper advice”
1 In regulation 10 of the Stakeholder Pension Schemes Regulations 2000 (Requirement for manager of schemes not established under a trust to have regard to certain matters, and to take advice, relating to investment), for sub-paragraph (a) of paragraph (5) substitute—

“(a) where the giving of advice constitutes a regulated activity of advising on investments (or would constitute such a regulated activity but for the identity of the person carrying on that activity), advice given by a person who may give that advice without contravening the prohibition imposed by section 19 of the Financial Services and Markets Act 2000;”

.
2 After paragraph (5) of that regulation insert—

“5A Paragraph (5)(a) must be read with—
(a) section 22 of the Financial Services and Markets Act 2000;
(b) any relevant order under that section; and
(c) Schedule 2 to that Act.”

.