The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001

2.  In article 60E (exempt agreements: exemptions relating to the nature of the lender) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001(1)—

(a)in paragraph (7), in the definition of “housing authority”, in paragraph (a), after “the Welsh Ministers”, insert “, a company which is a wholly-owned subsidiary of the Welsh Ministers,”;

(b)after paragraph (7), insert—

“(7A) In paragraph (7), in the definition of “housing authority”, in paragraph (a), “wholly-owned subsidiary” has the same meaning as in section 1159 (meaning of “subsidiary” etc.) of the Companies Act 2006(2).

(7B) For the purpose of paragraph (7A), the Welsh Ministers are to be treated as a body corporate.”.

(1)

S.I. 2001/544; article 60E was inserted by S.I. 2013/1881 and amended by S.I. 2014/366.