# The Financial Services and Markets Act 2000 (Interim Permissions) Order 2001, Article 4: Newly regulated activity


(1) In this Order a “newly regulated activity” is an activity—
(a) which the Relevant Applicant was able to carry on in the United Kingdom before commencement without contravening a regulatory enactment;
(b) for which the Relevant Applicant needs permission under the Act if he continues to carry on that activity after the relevant date without contravening either the general prohibition or section 20; and
(c) which the Relevant Applicant does not have a Part IV permission to carry on by virtue of the Authorised Persons Order.
(2) The reference in paragraph (1) to an activity which the Relevant Applicant was able to carry on without contravening a regulatory enactment does not include an activity in respect of which he was—
(a) an exempt person under Chapter IV of Part I of the Financial Services Act;
(b) exempt by virtue of Schedule 2 to the Banking Act.
(3) A “regulatory enactment” means—
(a) section 3 of the Banking Act;
(b) section 3 of the Financial Services Act;
(c) section 2(1) of the Insurance Companies Act;
(d) section 31(1) of the Friendly Societies Act;
(e) section 9(1) of the Building Societies Act.

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Source: https://www.legislation.gov.uk/uksi/2001/3374/article/4 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-interim-permissions-order-2001/article-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.