Activities carried on in the course of a profession or non-investment businessU.K.
67.—(1) There is excluded from articles 21, 25(1) and (2)[F1, 25A], [F239A, 40] [F353 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 [F4the 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
F1Word 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)
F2Words 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)
F3Words 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)
F4Words 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