The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 No. 544

PART II U.K. SPECIFIED ACTIVITIES

Chapter VII U.K. Managing Investments

Exclusions U.K.

Attorneys U.K.

38.  A person does not carry on an activity of the kind specified by article 37 if—

(a) he is a person appointed to manage the assets in question under a power of attorney; and

(b) all routine or day-to-day decisions, so far as relating to investments of a kind mentioned in article 37(a), are taken on behalf of that person by—

(i) an authorised person with permission to carry on activities of the kind specified by article 37; F1 ...

(ii) a person who is an exempt person in relation to activities of that kind[F2 ; or

(iii) an overseas person.]

Textual Amendments

F1 Word in art. 38(b) omitted (1.12.2001) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2001 (S.I. 2001/3544), arts. 1(a), 6(a)

F2 Art. 38(b)(iii) and word inserted (1.12.2001) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2001 (S.I. 2001/3544), arts. 1(a), 6(b)