OpenLegislation

The Financial Services and Markets Act 2000 (Exemption) (Amendment) Order 2008

S.I. 2008/682 · Made 11 March 2008

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Financial Services And Markets

Made 11th March 2008

Laid before Parliament 11th March 2008

Coming into force 1st April 2008

The Treasury, in exercise of the powers conferred by sections 38 and 428(3) of the Financial Services and Markets Act 2000f1, make the following Order:

Annotations to the whole text

Footnotes

f1

2000 c.8

Contents

  1. 1Citation and commencement
  2. 2Amendment of the Financial Services and Markets Act 2000 (Exemption) Order 2001
  3. Signature
  4. Explanatory note

1Citation and commencement

This Order may be cited as the Financial Services and Markets Act 2000 (Exemption) (Amendment) Order 2008 and shall come into force on 1st April 2008.

2Amendment of the Financial Services and Markets Act 2000 (Exemption) Order 2001

(1)

The Financial Services and Markets Act 2000 (Exemption) Order 2001f1 is amended as follows.

(2)

In Part III of the Schedule (persons exempt in respect of any regulated activity mentioned in article 5(1)) after paragraph 34A insert—

“34B.

Capital for Enterprise Limited, in so far as in carrying on any regulated activity it provides services only to the Crown.”

Signature

Alan Campbell

Dave Watts

Two of the Lords Commissioners of Her Majesty’s Treasury

11th March 2008

Explanatory note

(This note is not part of the Order)

This Order amends the Schedule to the Financial Services and Markets Act 2000 (Exemption) Order 2001 (S.I. 2001/1201) (“the principal order”) which provides for certain persons to be exempt from the general prohibition imposed by section 19 of the Financial Services and Markets Act 2000 (c.8) (“the Act”) on carrying on a regulated activity in the United Kingdom unless authorised under the Act.

Article 2 adds Capital for Enterprise Limited at paragraph 34B of the Schedule of the principal Order. This provides that Capital for Enterprise Limited is exempt in relation to the regulated activities listed at article 5(1) of the principal order (most of which relate to investment services) carried on by it provided that in doing so it provides services only to the Crown.

A Regulatory Impact Assessment has not been prepared as no impact on the cost of business is foreseen.