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The Financial Services and Markets Act 2000 (Exemption) (Amendment) Order 2020

S.I. 2020/322 · Made 20 March 2020

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 at 10.40 a.m. on 20th March 2020

Laid before Parliament at 1.30 p.m. on 20th March 2020

Coming into force 23rd March 2020

The Treasury make the following Order in exercise of the powers conferred by section 38 of the Financial Services and Markets Act 2000f1.

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 2020 and comes into force on 23rd March 2020.

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 1 of the Schedule (persons exempt in respect of any regulated activity other than insurance business), after paragraph 15B, insert—

“15C

Covid Corporate Financing Facility Limited.”.

Signature

Iain Stewart

Maggie Throup

Two of the Lords Commissioners of Her Majesty’s Treasury

At 10.40 a.m. on 20th March 2020

Explanatory note

(This note is not part of the Order)

This Order amends the Financial Services and Markets Act 2000 (Exemption) Order 2001 (S.I. 2001/1201) (“the principal order”).

The principal 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 unless that person is (a) an authorised person, or (b) an exempt person.

This Order amends the principal order by adding Covid Corporate Financing Facility Limited to the list of persons in Part 1 of the Schedule who are exempt in respect of any regulated activity other than insurance business.

An impact assessment has not been produced for this instrument as no, or no significant, impact on business or the voluntary sector is foreseen.