# The Financial Services and Markets Act 2000 (Consequential Amendments) (Taxes) Order 2001, Article 126: Mis-sold pension contracts—further disapplication of paragraphs 5(4) and 6(5) of Schedule 6 to the Finance Act 1989

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

(1) Amend regulation 6(5) of the Retirement Benefits Schemes (Tax Relief on Contributions) (Disapplication of Earnings Cap) Regulations 1990 (mis-sold pension contracts—further disapplication of paragraphs 5(4) and 6(5) of the Schedule) as follows.
(2) In the definition of “bad investment advice” for paragraph (d) substitute—
“(d) by reason of a contravention which is actionable—
(i) under section 62 of the Financial Services Act 1986; or
(ii) under section 150 of the Financial Services and Markets Act 2000;”.
(3) For the definition of “investment advice” substitute—
““investment advice”—
(a) in relation to a time before 1st December 2001, means advice such as is mentioned in paragraph 15 of Schedule 1 to the Financial Services Act 1986; and
(b) in relation to a time on or after that date, means advice such as is mentioned in Article 53 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001;”.

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Source: https://www.legislation.gov.uk/uksi/2001/3629/article/126 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-taxes-order-2001/article-126
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.