{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000-regulated-activities-order-2001/schedule-3/paragraph-3",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-regulated-activities-order-2001/schedule-3/paragraph-3.json",
  "legislation": "uksi/2001/544",
  "legislation_title": "The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-regulated-activities-order-2001",
  "path": "schedule/3/paragraph/3",
  "kind": "paragraph",
  "number": "3",
  "heading": null,
  "text": "The exemption in paragraph 1(o)—\n(a) only applies to the persons engaged in the activities set out in that sub-paragraph where they perform investment activities or provide investment services relating to commodity derivatives in order to carry out those activities;\n(b) does not apply with regard to the operation of a secondary market, including a platform for secondary trading in financial transmission rights.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "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)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. 3 para. 3 substituted (23.10.2025) by The Markets in Financial Instruments (Miscellaneous Amendments) Regulations 2025 (S.I. 2025/1020), regs. 1(2), 8(2) (with reg. 17); S.I. 2025/1078, reg. 2(b) (with reg. 11)"
    }
  ],
  "outstanding_effects": [
    {
      "type": "words substituted",
      "affecting": "uksi/2025/1205",
      "affecting_title": "The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2025"
    },
    {
      "type": "inserted",
      "affecting": "uksi/2025/1205",
      "affecting_title": "The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2025"
    },
    {
      "type": "words inserted",
      "affecting": "uksi/2025/1205",
      "affecting_title": "The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2025"
    },
    {
      "type": "words inserted",
      "affecting": "uksi/2025/1205",
      "affecting_title": "The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2025"
    },
    {
      "type": "words inserted",
      "affecting": "uksi/2025/1205",
      "affecting_title": "The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2025"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2001/544/schedule/3/paragraph/3",
    "retrieved_at": "2026-10-29T08:01:12.377334+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."
}