# Financial Services Act 1986 (repealed), Paragraph 2

Extent: E+W+S+N.I.

(1) A transaction falls within this paragraph if it is in respect of an investment specified in sub-paragraph (2) below and—
(a) in the case of an investment within any of paragraphs (a) to (d) of that sub-paragraph, the transaction is not regulated by the rules of a recognised investment exchange; and
(b) in the case of any other investment specified in that sub-paragraph, the transaction is not made on such an exchange or expressed to be as so made.
(2) The investments referred to above are—
(a) a debenture or other instrument falling within paragraph 2 of Schedule 1 to this Act which is issued on terms requiring repayment not later than five years from the date of issue;
(c) loan stock, or any other instrument, falling within paragraph 3 of Schedule 1 to this Act which is issued on terms requiring repayment not later than one year or, if issued by a local authority in the United Kingdom, five years from the date of issue;
(d) a warrant or other instrument falling within paragraph 4 of Schedule 1 to this Act which entitles the holder to subscribe for an investment within paragraph (a) or (c) above;
(e) any certificate or other instrument falling within paragraph 5 or 11 of Schedule 1 to this Act and relating to an investment within paragraph (a) or (c) above;
(f) an option falling within paragraph 7 of Schedule 1 to this Act and relating to—
(i) an investment within paragraph (a) or (c)above;
(ii) currency of the United Kingdom or of any other country or territory; or
(iii) gold or silver;
(g) rights under a contract falling within paragraph 8 of Schedule 1 to this Act for the sale of—
(i) an investment within paragraph (a) or (c) above;
(ii) currency of the United Kingdom or of any other country or territory; or
(iii) gold or silver;
(h) rights under a contract falling within paragraph 9 of Schedule 1 to this Act by reference to fluctuations in—
(i) the value or price of any investment falling within any of the foregoing paragraphs; or
(ii) currency of the United Kingdom or of any other country or territory; or
(iii) the rate of interest on loans in any such currency or any index of such rates;
(i) an option to acquire or dispose of an investment within paragraph (f), (g) or (h) above.

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Source: https://www.legislation.gov.uk/ukpga/1986/60/schedule/5/paragraph/2 (the official version)
Page: https://openlegislation.uk/financial-services-act-1986-repealed/schedule-5/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.