Paragraph 50 F1
United Kingdom
A freight forwarder or storage firm is exempt from the general prohibition in respect of any regulated activity of the kind specified by article 21, 25, 39A F2, 53 or 55A of the Regulated Activities Order (dealing in investments as agent, arranging deals in investments, assisting in the administration and performance of a contract of insurance F3, advising on investments or providing targeted support) in the circumstances referred to in paragraph 2.
The circumstances are—
where a freight forwarder (“F”)—
holds a policy of insurance which insures F in respect of loss of or damage to goods which F transports or of which F arranges the transportation, and
makes available to a customer rights under that policy to enable the customer to claim directly against the insurer in respect of loss or damage to those goods; or
where a storage firm (“S”)—
holds a policy of insurance which insures S in respect of loss of or damage to goods which S stores or for which S arranges storage, and
makes available to a customer rights under that policy to enable the customer to claim directly against the insurer in respect of loss or damage to those goods.
In this paragraph—
“freight forwarder” means a person whose principal business is arranging or carrying out the transportation of goods;
“storage firm” means a person whose principal business is storing goods or arranging storage for goods;
“customer” means a person F4... who uses the service of a freight forwarder or storage firm.
Annotations
Textual amendments
- F1
Sch. paras. 50, 51 and cross-headings inserted (20.7.2007) by The Financial Services and Markets Act 2000 (Exemption) (Amendment No. 2) Order 2007 (S.I. 2007/1821), arts. 1(2), 2(4)
- F2
Words in Sch. para. 50(1) substituted (23.2.2026 for specified purposes, 6.4.2026 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Providing Targeted Support) (Amendment) Order 2026 (S.I. 2026/74), art. 1(2)(3), Sch. para. 3(3)(c)(i)
- F3
Words in Sch. para. 50(1) substituted (23.2.2026 for specified purposes, 6.4.2026 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Providing Targeted Support) (Amendment) Order 2026 (S.I. 2026/74), art. 1(2)(3), Sch. para. 3(3)(c)(ii)
- F4
Words in Sch. para. 50(3) omitted (6.4.2009) by virtue of The Financial Services and Markets Act 2000 (Exemption) (Amendment) (No. 2) Order 2009 (S.I. 2009/264), arts. 1, 2(2)