The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2014

Made: 4th June 2014

Laid before Parliament: 5th June 2014

Coming into force

The Treasury make the following Order in exercise of the powers conferred by section 22(1) and (5) of, and paragraph 25 of Schedule 2 to, the Financial Services and Markets Act 2000[^f00001]:

Citation and commencement

1

• (1) This Order may be cited as the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2014.

• (2) This Order comes into force on 27th June 2014.

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

2

In article 36A (credit broking) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001[^f00002], at the end of paragraph (4)(c), insert “, except for paragraph (5) of that article”.

Signed

David Evennett — Anne Milton — Two of the Lords Commissioners of Her Majesty’s Treasury — 4th June 2014

Explanatory note

(This note is not part of the Order)

EXPLANATORY NOTE

This Order amends the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544). The effect of the amendment is that broking a credit agreement which is an exempt agreement by virtue of article 60E(5) of that Order is not itself a regulated activity for the purposes of the Financial Services and Markets Act 2000 (c. 8).

An impact assessment has not been produced for this instrument as no impact on the costs of business or the voluntary sector is foreseen.

Footnotes

[^f00001]: 2000 c.8. Paragraph 25 of Schedule 2 was amended by the Financial Services Act 2012 (c.21), section 8.

[^f00002]: S.I. 2001/544; article 36A was inserted by S.I. 2013/1881.

Editorial notes

[^key-044576cce3f7d79691b3fa12c575961e]: Art. 1 in force at 27.6.2014, see art. 1(2)

[^key-73c412b430305d9ae62de73c4baa626e]: Art. 2 in force at 27.6.2014, see art. 1(2)