{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000/section-425",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000/section-425.json",
  "legislation": "ukpga/2000/8",
  "legislation_title": "Financial Services and Markets Act 2000",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000",
  "path": "section/425",
  "kind": "section",
  "number": "425",
  "heading": "Expressions relating to authorisation ... in the single market.",
  "text": "(1) In this Act—\n(a) “alternative investment fund managers directive”, “capital requirements directive”, ... ... ... “EEA firm”, “EEA right”, “EEA State”, “emission allowance auctioning regulation”, ..., ... ... ... “insurance distribution directive”, ... “markets in financial instruments directive”, “mortgages directive”, “single market directives” ... , “tied agent” and “UCITS directive” have the meaning given in Schedule 3; ...\n(aa) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . and\n(b) “home state regulator”, in relation to an EEA firm, has the meaning given in Schedule 3.\n(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 425(1)(a) substituted (13.2.2004) by The Collective Investment Schemes (Miscellaneous Amendments) Regulations 2003 (S.I. 2003/2066), reg. 2(1)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 425(1)(a) inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 1 para. 32(a)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 425(1)(a) substituted (1.1.2014) by The Capital Requirements Regulations 2013 (S.I. 2013/3115), reg. 1(2), Sch. 2 para. 27"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in s. 425(1)(a) omitted (1.1.2016) by virtue of The Solvency 2 Regulations 2015 (S.I. 2015/575), reg. 1(2), Sch. 1 para. 16(a)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in s. 425(1)(a) omitted (31.12.2020) by virtue of The Financial Services (Miscellaneous) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/710), regs. 1(3), 3(2) (with regs. 36, 37, Sch.); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Words in s. 425(1)(a) inserted (20.7.2012) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2012 (S.I. 2012/1906), arts. 1, 3(16)"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Words in s. 425(1)(a) omitted (11.1.2005) by virtue of The Life Assurance Consolidation Directive (Consequential Amendments) Regulations 2004 (S.I. 2004/3379), reg. 6(5)(b)"
    },
    {
      "type": "F",
      "label": "F8",
      "text": "Words in s. 425(1)(a) substituted (1.10.2018) by The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018 (S.I. 2018/546), arts. 1(2), 18(3)"
    },
    {
      "type": "F",
      "label": "F9",
      "text": "Words in s. 425(1)(a) omitted (1.4.2007 for certain purposes and 1.11.2007 otherwise) by virtue of The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2007 (S.I. 2007/126), regs. 1(2), 3(5), Sch. 5 para. 22(a)"
    },
    {
      "type": "F",
      "label": "F10",
      "text": "Words in s. 425(1)(a) inserted (6.12.2006) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) (Modification of Powers) Regulations 2006 (S.I. 2006/2975), reg. 11"
    },
    {
      "type": "F",
      "label": "F11",
      "text": "Words in s. 425(1)(a) inserted (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910), art. 1(5), Sch. 1 para. 1(9) (with Pt. 4)"
    },
    {
      "type": "F",
      "label": "F12",
      "text": "Words in s. 425(1)(a) omitted (31.12.2024) by virtue of The Insurance and Reinsurance Undertakings (Prudential Requirements) (Amendment and Miscellaneous Provisions) Regulations 2024 (S.I. 2024/1083), regs. 1(2)(b), 8"
    },
    {
      "type": "F",
      "label": "F13",
      "text": "Words in s. 425(1)(a) inserted (1.4.2007 for certain purposes and 1.11.2007 otherwise) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2007 (S.I. 2007/126), regs. 1(2), 3(5), Sch. 5 para. 22(b)"
    },
    {
      "type": "F",
      "label": "F14",
      "text": "Word in s. 425(1)(a) omitted (28.6.2018 for specified purposes, 21.7.2018 in so far as not already in force) by virtue of The Money Market Funds Regulations 2018 (S.I. 2018/698), regs. 1(2), 2(18)(a)"
    },
    {
      "type": "F",
      "label": "F15",
      "text": "S. 425(1)(aa) omitted (31.12.2020) by virtue of The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/325), regs. 1(2), 31 (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F16",
      "text": "S. 425(2) omitted (31.12.2020) by virtue of The EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018 (S.I. 2018/1149), reg. 1(3), Sch. para. 20(2) (with reg. 4); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F17",
      "text": "Word in s. 425 heading omitted (31.12.2020) by virtue of The EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018 (S.I. 2018/1149), reg. 1(3), Sch. para. 20(3) (with reg. 4); 2020 c. 1, Sch. 5 para. 1(1)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2000/8/section/425",
    "retrieved_at": "2026-10-29T09:21:21.899993+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."
}