Article 14 Cases where exemptions not availableI1

Subsection (1) of section 249B of the Act (cases where exemptions not available) is amended as follows.

For paragraph (b) substitute—

“(b)

it was a person who had permission under Part 4 of the Financial Services and Markets Act 2000 to carry on a regulated activity,”.

After paragraph (b) insert—

“(bb)

it carried on an insurance market activity,”.

For paragraph (d) substitute—

“(d)

it was an appointed representative, within the meaning of section 39 of the Financial Services and Markets Act 2000,”.