{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000-exemption-amendment-order-2015/note",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-exemption-amendment-order-2015/note.json",
  "legislation": "uksi/2015/447",
  "legislation_title": "The Financial Services and Markets Act 2000 (Exemption) (Amendment) Order 2015",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-exemption-amendment-order-2015",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Order)\nThis Order amends the Financial Services and Markets Act 2000 (Exemption) Order 2001 (S.I. 2001/1201) (“the Exemption Order”).\nThe Exemption Order exempts certain persons from the general prohibition set out in section 19 of the Financial Services and Markets Act 2000 (c. 8), which provides that no person may carry on a regulated activity within the UK without being an authorised person or an exempt person. Regulated activities are activities of a kind specified by the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) which are carried on by way of business.\nArticle 2 extends the existing exemption of the Student Loans Company Limited (registered number 02401034). It is currently exempt in relation to the regulated activity of accepting certain deposits for the purposes of making loans to eligible students, now provided for in new paragraph 57(1)(a) and (2) of the Exemption Order (inserted by Article 2(3)). New paragraph 57(1)(b) and (3) ensure that the company is also exempt in relation to the regulated activity of debt administration, but in relation to a more limited class of eligible students.\nThis Order will have no effect on the costs of business and the voluntary sector. For that reason, no impact assessment has been produced for this instrument.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2015/447/note",
    "retrieved_at": "2026-10-28T23:45:28.942512+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."
}