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

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Statutory Instruments

2021 No. 1127

Financial Services And Markets

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

Made

8th October 2021

Laid before Parliament

11th October 2021

Coming into force

1st November 2021

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 2021 and comes into force on 1st November.

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 15C, insert—

“15D  UK Infrastructure Bank Limited.”.

Rebecca Harris

Michael Tomlinson

Two of the Lords Commissioners of Her Majesty’s Treasury

8th October 2021

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 either authorised or exempt.

This Order amends the Principal Order by adding UK Infrastructure Bank 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.

(2)

S.I. 2001/1201. Part 1 of the Schedule was amended by S.I. 2003/47, S.I. 2009/118, S.I. 2019/632, and S.I. 2020/322.

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