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Paragraph 2A F1F2

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

​The FCA may make rules specifying the following for the purposes of determining whether P is excluded from the definition of “investment firm” under paragraph 1(k)—

(a)

the criteria for establishing when an activity is ancillary to P’s main business on a group basis under paragraph 1A(a), and

(b)

the annual threshold referred to in paragraph 1A(b) and the criteria for establishing when an activity is below that threshold.

Annotations

Textual amendments

F1

Sch. 3 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 4(8) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/1233, regs. 1(3), 3 and S.I. 2019/710, regs. 1(2), 16(2)(c)); 2020 c. 1, Sch. 5 para. 1(1)

F2

Sch. 3 para. 2A inserted (10.12.2025) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2025 (S.I. 2025/1205), arts. 1(2), 2(d)