Article 54 Cases where exemptions not availableI1

Paragraph (1) of Article 257B of the 1986 Order (cases where exemptions not available)^f1 is amended as follows.

For sub-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 sub-paragraph (b) insert—

“(bb)

it carried on an insurance market activity,”.

For sub-paragraph (d) substitute—

“(d)

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