{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000-exemption-order-2001/schedule/paragraph-51",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-exemption-order-2001/schedule/paragraph-51.json",
  "legislation": "uksi/2001/1201",
  "legislation_title": "The Financial Services and Markets Act 2000 (Exemption) Order 2001",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-exemption-order-2001",
  "path": "schedule/paragraph/51",
  "kind": "paragraph",
  "number": "51",
  "heading": null,
  "text": "(1) A person acting as a policyholder advocate is exempt from the general prohibition in respect of any regulated activity of the kind specified by article 25 , 53 or 55A of the Regulated Activities Order (arranging deals in investments , advising on investments or providing targeted support) in so far as he carries on these activities in connection with, or for the purposes of, his role as policyholder advocate.\n(2) In sub-paragraph (1), “policyholder advocate” means a person who is—\n(a) appointed by an insurer (“I”) to represent the interests of policyholders in negotiations with I about I’s proposals to redefine the rights and interests in any surplus assets arising in I’s with-profits fund; and\n(b) approved or nominated by the FCA to carry out that role.\n(3) In sub-paragraph (2), “with-profits fund” means a long-term insurance fund in which policyholders are eligible to participate in surplus assets of the fund.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "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)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. para. 51(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)(d)(i)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in Sch. para. 51(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)(d)(ii)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Word in Sch. para. 51(2)(b) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 38"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2001/1201/schedule/paragraph/51",
    "retrieved_at": "2026-10-29T07:52:59.786691+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."
}