# The Financial Services Act 1986 (Exemption) Order 1996, Article 2: Exemption of Operator


An Operator is an exempted person as respects anything done by him, otherwise than in his capacity as a person providing clearing services for the transaction of investment business, for the purposes of operating a computer-based system and procedures which—
(a) enable title to investments to be evidenced and transferred without a written instrument; and
(b) facilitate matters supplementary and incidental to those specified in sub-paragraph (a) above.

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Source: https://www.legislation.gov.uk/uksi/1996/1587/article/2 (the official version)
Page: https://openlegislation.uk/financial-services-act-1986-exemption-order-1996/article-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.