The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005

Changes over time for: Section 2

Alternative versions:

Status:

Point in time view as at 31/01/2024.

Changes to legislation:

There are currently no known outstanding effects for the The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, Section 2.

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Interpretation: generalU.K.

2.—(1) In this Order, except where the context otherwise requires—

F1...

[F2“the 2006 Act” means the Companies Act 2006]

“the Act” means the Financial Services and Markets Act 2000;

“close relative” in relation to a person means—

(a)

his spouse [F3or civil partner];

(b)

his children and step-children, his parents and step-parents, his brothers and sisters and his step-brothers and step-sisters; and

(c)

the spouse [F3or civil partner] of any person within sub-paragraph (b);

“controlled activity” has the meaning given by article 4 and Schedule 1;

[F4“controlled claims management activity” has the meaning given in article 4(3);]

“controlled investment” has the meaning given by article 4 and Schedule 1;

“deposit” means a sum of money which is a deposit for the purposes of article 5 of the Regulated Activities Order;

[F5“direct financial benefit” includes any commission, discount, remuneration or reduction in premium;]

“equity share capital” has the meaning given in [F6the 2006 Act (see section 548)];

“financial promotion restriction” has the meaning given by article 5;

[F7“Full name”, in relation to a person, means the name under which that person carries on business and, if different, that person’s corporate name];

“government” means the government of the United Kingdom, the Scottish Administration, the Executive Committee of the Northern Ireland Assembly, the National Assembly for Wales and any government of any country or territory outside the United Kingdom;

[F8“ information society service ” is to be read in accordance with the definition of “information society services” in regulation 2 of the Electronic Commerce (EC Directive) Regulations 2002;]

“instrument” includes any record whether or not in the form of a document;

“international organisation” means any body the members of which comprise—

(a)

F9states including the United Kingdom ... ; or

(b)

F9bodies whose members comprise states including the United Kingdom ... ;

“overseas communicator” has the meaning given by article 30;

“previously overseas customer” has the meaning given by article 31;

“publication” means—

(a)

a newspaper, journal, magazine or other periodical publication;

(b)

a web site or similar system for the electronic display of information;

(c)

any programme forming part of a service consisting of the broadcast or transmission of television or radio programmes;

(d)

any teletext service, that—is to say a service consisting of television transmissions consisting of a succession of visual displays (with or without accompanying sound) capable of being selected and held for separate viewing or other use;

“qualifying contract of insurance” has the meaning given in the Regulated Activities Order;

“qualifying credit” has the meaning given by paragraph 10 of Schedule 1;

[F10“qualifying cryptoasset” has the meaning given by paragraph 26F of Schedule 1;]

[F10“registered person” has the meaning given by article 73ZA;]

M1“the Regulated Activities Order” means the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 ;

[F11“regulated market admission rules” means designated activity rules made by virtue of regulation 14 of the Public Offers and Admissions to Trading Regulations 2024;]

“relevant insurance activity” has the meaning given by article 21;

“relevant investment activities” has the meaning given by article 30;

[F12“relevant UK market” means a market that meets the criteria specified in Part A1 of Schedule 3;]

“solicited real time communication” has the meaning given by article 8;

[F13“structured deposit” means a deposit which is fully repayable at maturity on terms under which interest or a premium will be paid or is at risk, according to a formula involving factors such as—

(a)

an index or combination of indices excluding variable rate deposits whose return is directly linked to an interest rate index such as Euribor or Libor;

(b)

a financial instrument or combination of financial instruments;

(c)

a commodity or combination of commodities or other physical or non-physical non-fungible assets; or

(d)

a foreign exchange rate or combination of foreign exchange rates;]

“units”, in a collective investment scheme, has the meaning given by Part XVII of the Act;

“unsolicited real time communication” has the meaning given by article 8.

(2) References to a person engaging in investment activity are to be construed in accordance with subsection (8) of section 21 of the Act; and for these purposes, “controlled activity” and “controlled investment” in that subsection have the meaning given in this Order.

Textual Amendments

F1Words in art. 2(1) omitted (12.5.2011) by virtue of The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), arts. 1(2), 26(2)(a)

F2Words in art. 2(1) inserted (12.5.2011) by virtue of The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), arts. 1(2), 26(2)(a)

F3Words in art. 2(1) inserted (21.12.2005) by The Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) Order 2005 (S.I. 2005/3392), arts. 1, 2(2)

F4Words in art. 2 inserted (E.W.S.) (29.11.2018 for specified purposes, 1.4.2019 in so far as not already in force) by The Financial Services and Markets Act 2000 (Claims Management Activity) Order 2018 (S.I. 2018/1253), arts. 1(2)(3), 9

F5Words in art. 2 inserted (13.4.2010) by The Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) Order 2010 (S.I. 2010/905), arts. 1, 3

F6Words in art. 2(1) substituted (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), arts. 1(2), 26(2)(b)

F7Words in art. 2(1) inserted (31.1.2024) by The Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) (No. 2) Order 2023 (S.I. 2023/1411), arts. 1(2), 3

F8Words in art. 2(1) inserted (31.12.2020) by The Electronic Commerce and Solvency 2 (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/1361), regs. 1(2), 9 (as amended by S.I. 2019/1390, regs. 1(2), 6); 2020 c. 1, Sch. 5 para. 1(1)

F9Words in art. 2(1) omitted (31.12.2020) by virtue of The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 163 (with reg. 162(2)) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 33(u) and with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/1212, regs. 1(3), 22(3)); 2020 c. 1, Sch. 5 para. 1(1)