Section 71L Restrictions on carrying on of designated activitiesF1

United Kingdom

(1)

A person must not carry on a designated activity if, or to the extent that, designated activity regulations prohibit the carrying on of that activity.

(2)

A person carrying on a designated activity that is not prohibited by virtue of subsection (1) must comply with—

(a)

designated activity rules relating to that activity, and

(b)

any other requirements imposed in relation to that activity by designated activity regulations.

(3)

For the purposes of this Act designated activity rules are rules made under section 71N.

Annotations

Textual amendments

F1: Pt. 5A inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 8(2), 86(3); S.I. 2023/779, reg. 4(e)

Notes on Chapter 1

Textual amendments

F2: Pt. 5A Ch. 1 heading inserted (14.1.2025) by The Financial Services and Markets Act 2000 (Designated Activities) (Supervision and Enforcement) Regulations 2025 (S.I. 2025/22), reg. 1(2), Sch. para. 2