Explanatory note

This Order specifies certain kinds of activity and investment for the purposes of section 397(9)(a) and (10) of the Financial Services and Markets Act 2000 (“the Act”).

An agreement, the entering into or performance of which constitutes an activity of the kind specified by article 3, and which relates to an investment of the kind specified by article 4, is a relevant agreement for the purposes of section 397 of the Act. Misleading statements and practices of the kind referred to in section 397(1) to (3) of the Act are criminal offences if made, or engaged in, in connection with a relevant agreement or an investment of the kind specified by article 4.