PART 2

Amendments to secondary legislation made under the Act

The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001
2
1
The Regulated Activities Order is amended as follows.
2
In article 3 (interpretation) , in the definition of “contract of insurance”, omit “(or a contract which would be a funeral plan contract but for the exclusion in article 60)”.
3
In article 21(1) (dealing in investments as agent) , omit “(other than investments of the kind specified by article 87, or article 89 so far as relevant to that article)”.
4
In article 59 (funeral plan contracts)—
a
after paragraph (1), insert—
1A
Carrying out a funeral plan contract as provider is a specified kind of activity.
;
b
in paragraph (2), omit “(other than one excluded by article 60)”; and
c
after paragraph (2), insert—
2A
For the purposes of paragraph (1A), “provider” includes a person who has assumed the undertaking referred to in paragraph (2)(b) as a result of the novation, assignment or transfer by operation of law of an existing funeral plan contract.
.
5
Omit article 60 (plans covered by insurance or trust arrangements).
6
Before paragraph 60A , insert—

Local authorities
60ZA
Article 59 is subject to the exclusion in article 72G (local authorities).
.
7
In article 72G (local authorities) , after paragraph (3B) , insert—
3C
There is excluded from article 59(1) and (1A) any activity which is carried on by a local authority.
.
8
For article 89(3) (rights to or interests in investments) , substitute—
Paragraph (1) does not include any right or interest acquired as a result of entering into a funeral plan contract.
Article 3 was amended by S.I. 2003/1476. There are other amendments to article 3 which are not relevant to this Order.
Article 21 was renumbered and amended by S.I. 2003/1476, and further amended by S.I. 2006/3384 and S.I. 2017/488.
Article 60A was inserted by S.I. 2002/1776.
Article 72G was inserted by S.I. 2014/366. There are amendments to article 72G which are not relevant to this Order.
Paragraph (3B) was substituted by S.I. 2016/392.
There are amendments to article 89 which are not relevant to this Order.