# The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, Paragraph 2: Paragraph 2 of Part 1: “money-market instruments”


(1) In paragraph 2 of Part 1 of this Schedule “money-market instruments” means those classes of instruments which are normally dealt with on the money market, such as treasury bills, certificates of deposit, commercial papers and other instruments with substantively equivalent features, but only where they have the characteristics specified in sub-paragraph (2), and excluding instruments of payment.
(2) Those characteristics are—
(a) they have a value that can be determined at any time,
(b) they are not derivatives, and
(c) they have a maturity at issuance of 397 days or less.

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Source: https://www.legislation.gov.uk/uksi/2001/544/schedule/2/part/2/paragraph/2 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-regulated-activities-order-2001/schedule-2/part-2/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.