Article 284 Exclusions from Part 11 of the Fair Trading Act 1973I1

Section 118^f1 of the Fair Trading Act 1973 (trading schemes to which Part XI applies) is amended as follows.

In subsection (6), for paragraph (a) substitute—

“(a)

under which the promoter or any of the promoters or participants is to carry on, or to purport to carry on, a relevant regulated activity;”.

After subsection (6) insert—

“(6A)

For the purposes of subsection (6)(a), “relevant regulated activity” means—

(a)

dealing in investments as principal or agent;

(b)

arranging deals in investments;

(c)

managing investments;

(d)

safeguarding and administering investments;

(e)

sending dematerialised instructions;

(f)

establishing etc. a collective investment scheme;

(g)

advising on investments,

and paragraphs (a) to (g) must be read with section 22 of the Financial Services and Markets Act 2000, any relevant order under that section, and Schedule 2 to that Act.”.