The Financial Services and Markets Act 2000 (Exemption) (Amendment) Order 2020

Made: at 10.40 a.m. on 20th March 2020

Laid before Parliament: at 1.30 p.m. on 20th March 2020

Coming into force: 23rd March 2020

The Treasury make the following Order in exercise of the powers conferred by section 38 of the Financial Services and Markets Act 2000[^f00001].

Citation and commencement

1

This Order may be cited as the Financial Services and Markets Act 2000 (Exemption) (Amendment) Order 2020 and comes into force on 23rd March 2020.

Amendment of the Financial Services and Markets Act 2000 (Exemption) Order 2001

2

• (1) The Financial Services and Markets Act 2000 (Exemption) Order 2001[^f00002] is amended as follows.

• (2) In Part 1 of the Schedule (persons exempt in respect of any regulated activity other than insurance business), after paragraph 15B, insert—

(15C) Covid Corporate Financing Facility Limited.

Signed

Iain Stewart — Maggie Throup — Two of the Lords Commissioners of Her Majesty’s Treasury — At 10.40 a.m. on 20th March 2020

Explanatory note

(This note is not part of the Order)

EXPLANATORY NOTE

This Order amends the Financial Services and Markets Act 2000 (Exemption) Order 2001 (S.I. 2001/1201) (“the principal order”).

The principal order exempts certain persons from the general prohibition set out in section 19 of the Financial Services and Markets Act 2000 (c.8), which provides that no person may carry on a regulated activity within the UK unless that person is (a) an authorised person, or (b) an exempt person.

This Order amends the principal order by adding Covid Corporate Financing Facility Limited to the list of persons in Part 1 of the Schedule who are exempt in respect of any regulated activity other than insurance business.

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

Footnotes

[^f00001]: 2000 c.8.

[^f00002]: S.I. 2001/1201. Part 1 of the Schedule was amended by S.I. 2003/47 and S.I. 2009/118; there are other amendments to that Part not relevant to this Order.