# The Financial Services Act 1986 (Restriction of Scope of Act) Order 1988, Note: Explanatory note


(This note is not part of the Order)
This Order restricts the scope of the Financial Services Act 1986 in certain respects. Article 2 restricts the scope of paragraph 13 of Schedule 1 to the Act as it applies to certain arrangements made between insurance companies and persons whose ordinary business involves the lending of money. Article 3 restricts the scope of paragraph 12 of Schedule 1 to the Act as it applies to transactions involving the assignment of long term insurance contracts. Article 4 extends the scope of the exemption afforded by paragraph 21 of Schedule 1 to the Act. Article 5 makes provision as to the application of the Act to advice given in sound, television or cable programmes. Article 6 makes provision for the approval of international securities self-regulating organisations and the exclusion for certain purposes of their activities from activities which constitute the carrying on of investment business in the United Kingdom.

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Source: https://www.legislation.gov.uk/uksi/1988/318/note (the official version)
Page: https://openlegislation.uk/financial-services-act-1986-restriction-of-scope-of-act-order-1988/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.