PART 3Amendments to secondary legislation

Amendment of the Financial Services and Markets Act 2000 (Compensation Scheme: Electing Participants) Regulations 2001

4.—(1) The Financial Services and Markets Act 2000 (Compensation Scheme: Electing Participants) Regulations 2001(1) are amended as follows.

(2) In regulation 1(2)—

(a)in paragraph (c) of the definition of “branch”, for “Article 5f.2” substitute “Article 12.2”;

(b)in paragraph (a) of the definition of “relevant management company”, for “Article 5.3(a)” substitute “Article 6.3”.

(3) Renumber regulation 2 as paragraph (1) of that regulation.

(4) After paragraph (1) of regulation 2, insert—

“(2) The persons mentioned in paragraph (1)(a), (b) and (c) are prescribed in relation to all authorised activities.

(3) A relevant management company is prescribed in relation to all authorised activities other than any collective portfolio management services set out in Annex II to the UCITS directive which it is providing to a UCITS in the United Kingdom.”