# The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001, Article 597: Meaning of “proper advice”

Extent: E+W+S+N.I.

(1) In regulation 10 of the Stakeholder Pension Schemes Regulations 2000 (Requirement for manager of schemes not established under a trust to have regard to certain matters, and to take advice, relating to investment), for sub-paragraph (a) of paragraph (5) substitute—
“(a) where the giving of advice constitutes a regulated activity of advising on investments (or would constitute such a regulated activity but for the identity of the person carrying on that activity), advice given by a person who may give that advice without contravening the prohibition imposed by section 19 of the Financial Services and Markets Act 2000;”.
(2) After paragraph (5) of that regulation insert—
“(5A) Paragraph (5)(a) must be read with—
(a) section 22 of the Financial Services and Markets Act 2000;
(b) any relevant order under that section; and
(c) Schedule 2 to that Act.”.

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Source: https://www.legislation.gov.uk/uksi/2001/3649/article/597 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-and-repeals-order-2001/article-597
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.