{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-and-repeals-order-2001/article-48",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-and-repeals-order-2001/article-48.json",
  "legislation": "uksi/2001/3649",
  "legislation_title": "The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-and-repeals-order-2001",
  "path": "article/48",
  "kind": "article",
  "number": "48",
  "heading": "Disclosure of interests in shares: interests to be disclosed",
  "text": "(1) Article 207 of the 1986 Order (interests in shares required to be disclosed) is amended as follows.\n(2) In paragraph (2A), in sub-paragraph (a) for “authorised to” substitute “who may lawfully”.\n(3) In that paragraph, in sub-paragraph (b), for paragraphs (ii) and (iii) substitute—\n“or\n(ii) a recognised scheme;”.\n(4) For paragraphs (6) and (7) substitute—\n“(6) For the purposes of paragraph (2A), a person (“A”) may lawfully manage investments belonging to another if—\n(a) A can manage those investments in accordance with the permission which A has under Part 4 of the Financial Services and Markets Act 2000;\n(b) A is an EEA firm of the kind mentioned in sub-paragraph (a) or (b) of paragraph 5 of Schedule 3 to that Act, and can manage those investments in accordance with its EEA authorisation;\n(c) A can, in accordance with section 327 of that Act, manage those investments without contravening the prohibition contained in section 19 of that Act; or\n(d) A can lawfully manage those investments in another Member State and would, if he were to manage those investments in the United Kingdom, require permission under Part 4 of that Act.\n(7) References in this Article to the management of investments must be read with—\n(a) section 22 of the Financial Services and Markets Act 2000;\n(b) any relevant order under that section; and\n(c) Schedule 2 to that Act.”.\n(5) In paragraph (8)—\n(a) in sub-paragraph (b) for the words from the beginning to “conferred” substitute “is certified by the competent authority in that member State as complying with the conditions imposed”; and\n(b) for “subsection (8) of section 86 of the Financial Services Act 1986” substitute “subsection (5) of section 264 of the Financial Services and Markets Act 2000”.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Art. 48 in force at 1.12.2001, see art. 1"
    },
    {
      "type": "footnote",
      "label": "f1",
      "text": "Inserted by SR (NI) 1997/251."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "Paragraphs (6) and (7) inserted by SR (NI) 1994/2."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2001/3649/article/48",
    "retrieved_at": "2026-10-29T07:23:30.014012+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}