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PART II U.K. SPECIFIED ACTIVITIES

Chapter XVII U.K.Exclusions Applying to Several Specified Kinds of Activity

Activities carried on in the course of a profession or non-investment business U.K.

67.—(1) There is excluded from articles 21, 25(1) and (2) [F1 , 25A], [F2 39A, 40] [F3 53 and 53A] any activity which—

(a) is carried on in the course of carrying on any profession or business which does not otherwise consist of [F4 the carrying on of regulated activities in the United Kingdom]; and

(b) may reasonably be regarded as a necessary part of other services provided in the course of that profession or business.

(2) But the exclusion in paragraph (1) does not apply if the activity in question is remunerated separately from the other services.

Textual Amendments

F1 Word in art. 67(1) inserted (31.10.2004) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 1) Order 2003 (S.I. 2003/1475), arts. 1(3), 19(a)

F2 Words in art. 67 substituted (31.10.2004 for specified purposes, 14.1.2005 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2003 (S.I. 2003/1476), arts. 1(3), 10(2)

F3 Words in art. 67(1) substituted (31.10.2004) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 1) Order 2003 (S.I. 2003/1475), arts. 1(3), 19(b)

F4 Words in art. 67(1)(a) substituted (1.12.2001) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2001 (S.I. 2001/3544), arts. 1(a), 9