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The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2021

Consolidated Text As Enacted Cited authorities 45 Cited in Related
Vincent
JurisdictionUK Non-devolved
(1) This Order may be cited as the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2021.to make or approve rules;to give guidance; andto give directions.a Part 4Aa variation of a Part 4A permission under section 55Happroval under Part 5 of the Act;enabling the FCA to exercise any of its powers under Part 4A or Part 5 of the Act in relation to any activity which becomes a regulated activity by virtue of this Order; andto make rules; andto give guidance.(3) F1Subject to article 1A, this Order comes into force for all other purposes on the first day following the expiry of a period of eighteen calendar months beginning on the day after the initial commencement day.(4) In this Order—
  • “the Act” means the Financial Services and Markets Act 2000;
  • “the Regulated Activities Order” means the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001
    • ; and
  • “scheme operator” has the meaning given in section 225(2) of the Act.
(1) Article 1(3) applies subject to this article.the FCA received a provider’s application before 1st March 2022; andthat application has not been determined by the FCA in accordance with section 55V of the Act before 29th July 2022;that provider withdrew that application before 29th July 2022;the FCA refused that application before 29th July 2022 by giving the provider a decision notice in accordance with section 55X(4) (f) of the Act;(3) In this article—
  • “application” means an application to the FCA under section 55A of the Act for permission to carry on either of the regulated activities specified in article 59 of the Regulated Activities Order;
  • “funeral plan contract” has the same meaning as in article 59(2) of the Regulated Activities Order;
  • “provider” means a person responsible for carrying out a funeral plan contract as provider.
(1) The Regulated Activities Order is amended as follows.(2) In article 3 (interpretation) (3) In article 21(1) (dealing in investments as agent) after paragraph (1) , insert—
  • (1A)  Carrying out a funeral plan contract as provider is a specified kind of activity.
; Carrying out a funeral plan contract as provider is a specified kind of activity.in paragraph (2) , omit “(other than one excluded by article 60) ”; andafter paragraph (2) , insert—
  • (2A) For the purposes of paragraph (1A) , “provider” includes a person who has assumed the undertaking referred to in paragraph (2) (b) as a result of the novation, assignment or transfer by operation of law of an existing funeral plan contract.
.For the purposes of paragraph (1A) , “provider” includes a person who has assumed the undertaking referred to in paragraph (2) (b) as a result of the novation, assignment or transfer by operation of law of an existing funeral plan contract.(5) Omit article 60 (plans covered by insurance or trust arrangements) .(6) Before paragraph 60AArticle 59 is subject to the exclusion in article 72G (local authorities) .(7) In article 72G (local authorities) There is excluded from article 59(1) and (1A) any activity which is carried on by a local authority.(8) For article 89(3) (rights to or interests in investments)
  • For paragraph 18
    • Arrangements do not amount to a

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