Explanatory note

This Order amends the Rehabilitation of Offenders Act 1974 (Exceptions) Order 1975 (“the 1975 Order”) so as: (a) to permit the Financial Services Authority to take spent convictions and cautions into account when exercising certain functions under the Payment Services Regulations 2009; and (b) to permit spent convictions and cautions to be taken into account for the purpose of considering the suitability of a person for appointment as a Head of Legal Practice or Head of Finance and Administration of a body licensed under Part 5 (alternative business structures) of the Legal Services Act 2007.

It also amends the definition of “actuary” in Schedule 1 to the 1975 Order to reflect the merger of the Institute of Actuaries and the Faculty of Actuaries.

A full impact assessment has not been produced for this instrument as it has no impact on the private or voluntary sectors.