The Financial Services and Markets Act 2000 (Exemption) (Amendment) Order 2020

Publication Date:January 01, 2020
 
FREE EXCERPT

2020No. 322

FINANCIAL SERVICES AND MARKETS

The Financial Services and Markets Act 2000 (Exemption) (Amendment) Order 2020

Made at 10.40 a.m. on20thMarch2020

Laid before Parliament at 1.30 p.m. on20thMarch2020

Coming into force23rdMarch2020

The Treasury make the following Order in exercise of the powers conferred by section 38 of the Financial Services and Markets Act 2000( 1).

Citation and commencement

1. This Order may be cited as the Financial Services and Markets Act 2000 (Exemption) (Amendment) Order 2020 and comes into force on 23rd March 2020.

Amendment of the Financial Services and Markets Act 2000 (Exemption) Order 2001

2.—(1) The Financial Services and Markets Act 2000 (Exemption) Order 2001( 2) is amended as follows.

(2) In Part 1 of the Schedule (persons exempt in respect of any regulated activity other than insurance business), after paragraph 15B, insert—

15C Covid Corporate Financing Facility Limited.”.

At 10.40 a.m. on 20th March 2020

Iain Stewart

Maggie Throup

Two of the Lords Commissioners of Her Majesty's Treasury

EXPLANATORY NOTE

(This note is not part of the Order)

This Order amends the Financial Services and Markets Act 2000 (Exemption) Order 2001 ( S.I. 2001/1201) (“the principal order”).

The principal order exempts certain persons from the general prohibition set out in section 19 of the Financial Services and Markets Act 2000 (c. 8), which provides that no person may carry on a regulated activity within the UK unless that person is (a) an authorised person, or (b) an exempt person.

This Order amends the principal order by adding Covid Corporate Financing Facility Limited to the list of persons in Part 1 of the Schedule who are exempt in respect of any regulated activity other than insurance business.

An impact assessment has not been produced for this instrument as no, or no significant, impact on business or the voluntary sector is foreseen.

(1) 2000 c. 8.

(2) S.I. 2001/1201. Part 1 of the Schedule was amended by S.I. 2003/47and S.I. 2009/118; there are other amendments to that Part not relevant to this Order.

To continue reading

REQUEST YOUR TRIAL