{
  "url": "https://openlegislation.uk/financial-services-act-1986-exemption-order-1996",
  "json_url": "https://openlegislation.uk/financial-services-act-1986-exemption-order-1996.json",
  "id": "uksi/1996/1587",
  "title": "The Financial Services Act 1986 (Exemption) Order 1996",
  "short_title": "Financial Services Act 1986 (Exemption) 1996",
  "long_title": "The Order provides an exemption from the authorisation requirements of the Financial Services Act 1986 for a person who has been approved under the Uncertificated Securities Regulations 1995 as an Operator. The exemption extends to anything which an Operator does which constitutes the carrying on of investment business where it is done for the purpose of operating a system for transferring title to investments. The Order does not extend to anything which an Operator does in his capacity as a person providing clearing services for the transaction of investment business.",
  "citation": "S.I. 1996/1587",
  "type": "uksi",
  "year": "1996",
  "number": "1587",
  "version": "current",
  "date": "1996-06-19",
  "revised": false,
  "valid_from": null,
  "extent": null,
  "unapplied_effects": 1,
  "provisions": [
    {
      "path": "introduction",
      "kind": "introduction",
      "number": null,
      "heading": "Introductory text",
      "url": "https://openlegislation.uk/financial-services-act-1986-exemption-order-1996/introduction",
      "extent": null,
      "status": null,
      "parent": null
    },
    {
      "path": "article/1",
      "kind": "article",
      "number": "1",
      "heading": "Citation, commencement and interpretation",
      "url": "https://openlegislation.uk/financial-services-act-1986-exemption-order-1996/article-1",
      "extent": null,
      "status": null,
      "parent": null
    },
    {
      "path": "article/2",
      "kind": "article",
      "number": "2",
      "heading": "Exemption of Operator",
      "url": "https://openlegislation.uk/financial-services-act-1986-exemption-order-1996/article-2",
      "extent": null,
      "status": null,
      "parent": null
    },
    {
      "path": "article/3",
      "kind": "article",
      "number": "3",
      "heading": "Exemption of network providers",
      "url": "https://openlegislation.uk/financial-services-act-1986-exemption-order-1996/article-3",
      "extent": null,
      "status": null,
      "parent": null
    },
    {
      "path": "signature",
      "kind": "signature",
      "number": null,
      "heading": "Signature",
      "url": "https://openlegislation.uk/financial-services-act-1986-exemption-order-1996/signature",
      "extent": null,
      "status": null,
      "parent": null
    },
    {
      "path": "note",
      "kind": "note",
      "number": null,
      "heading": "Explanatory note",
      "url": "https://openlegislation.uk/financial-services-act-1986-exemption-order-1996/note",
      "extent": null,
      "status": null,
      "parent": null
    }
  ],
  "has_text": true,
  "pdfs": [],
  "outstanding_effects": [
    {
      "type": "words substituted",
      "affected_provisions": "art. 1(3)",
      "affecting": "uksi/2001/3755",
      "affecting_title": "The Uncertificated Securities Regulations 2001",
      "affecting_provisions": "Sch. 7 para. 22"
    }
  ],
  "made_under": [
    {
      "id": "ukpga/1986/60",
      "title": "Financial Services Act 1986 (repealed)",
      "url": "https://openlegislation.uk/financial-services-act-1986-repealed",
      "provisions": [
        "section/46",
        "section/205A"
      ]
    }
  ],
  "changes_made_to": 1,
  "changes_made_to_url": "https://openlegislation.uk/financial-services-act-1986-exemption-order-1996/changes.json",
  "changes_made_by": 0,
  "changes_made_by_url": "https://openlegislation.uk/financial-services-act-1986-exemption-order-1996/changes/by-it.json",
  "instruments_made_under": 0,
  "instruments_made_under_url": "https://openlegislation.uk/financial-services-act-1986-exemption-order-1996/instruments.json",
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1996/1587",
    "retrieved_at": "2026-10-29T12:41:32.235600+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}