Financial Services Act 1986 (Repealed)

24 (1) Paragraph 15 above does not apply to advice—

(a) which is given in the course of the carrying on of any profession or of a business not otherwise constituting investment business; and

(b) the giving of which is a necessary part of other advice or services given in the course of carrying on that profession or business.

[F1 (2) Paragraph 13 above does not apply to arrangements—

(a) which are made in the course of the carrying on of any profession or of a business not otherwise constituting investment business; and

(b) the making of which is a necessary part of other services provided in the course of carrying on that profession or business.

[F2 (2A) Paragraph 13A above does not apply to the provision of a service or to arrangements made for the provision of a service where—

(a) the service is provided or the arrangements are made in the course of the carrying on of any profession or of a business not otherwise constituting investment business; and

(b) the provision of the service or the making of the arrangements is a necessary part of other services provided in the course of carrying on that profession or business.]

[F3 (3) Advice shall not be regarded as falling within sub-paragraph (1)(b) above, the making of arrangements shall not be regarded as falling within sub-paragraph (2)(b) above and the provision of a service or the arranging for the provision of a service shall not be regarded as falling within sub-paragraph (2A)(b) above if the giving of the advice, the making of the arrangements or the provision, or the arranging for the provision, of the service is remunerated separately from the other advice or services.]]

Textual Amendments

F1 Sch. 1 para. 24(2)(3) substituted for paragraph 24(2) by S.I. 1988/803, art. 4(2)

F2 Sch. 1 para. 24(2A) inserted (1.6.1997) by S.I. 1996/2958, art. 8

F3 Sch. 1 para. 24(3) substituted (1.6.1997) by S.I. 1996/2958, art. 8(2)