2008 No. 682
Financial Services And Markets

The Financial Services and Markets Act 2000 (Exemption) (Amendment) Order 2008

Made
Laid before Parliament
Coming into force
The Treasury, in exercise of the powers conferred by sections 38 and 428(3) of the Financial Services and Markets Act 20001, make the following Order:

Citation and commencement1.

This Order may be cited as the Financial Services and Markets Act 2000 (Exemption) (Amendment) Order 2008 and shall come into force on 1st April 2008.

Amendment of the Financial Services and Markets Act 2000 (Exemption) Order 20012.

(1)

The Financial Services and Markets Act 2000 (Exemption) Order 20012 is amended as follows.

(2)

In Part III of the Schedule (persons exempt in respect of any regulated activity mentioned in article 5(1)) after paragraph 34A insert—

“34B.

Capital for Enterprise Limited, in so far as in carrying on any regulated activity it provides services only to the Crown.”

Alan Campbell
Dave Watts
Two of the Lords Commissioners of Her Majesty’s Treasury
EXPLANATORY NOTE
(This note is not part of the Order)

This Order amends the Schedule to the Financial Services and Markets Act 2000 (Exemption) Order 2001 (S.I. 2001/1201) (“the principal order”) which provides for certain persons to be exempt from the general prohibition imposed by section 19 of the Financial Services and Markets Act 2000 (c.8) (“the Act”) on carrying on a regulated activity in the United Kingdom unless authorised under the Act.

Article 2 adds Capital for Enterprise Limited at paragraph 34B of the Schedule of the principal Order. This provides that Capital for Enterprise Limited is exempt in relation to the regulated activities listed at article 5(1) of the principal order (most of which relate to investment services) carried on by it provided that in doing so it provides services only to the Crown.

A Regulatory Impact Assessment has not been prepared as no impact on the cost of business is foreseen.