http://www.legislation.gov.uk/uksi/2001/1201/schedule/paragraph/16/2001-12-01The Financial Services and Markets Act 2000 (Exemption) Order 2001texttext/xmlenStatute Law DatabaseFINANCIAL SERVICES AND MARKETS2024-05-16Expert Participation2001-12-01 This Order provides for certain persons to be exempt from the general prohibition which is imposed by section 19 of the Financial Services and Markets Act 2000 (c. 8) (“the Act"). Exempt persons are not required to be authorised to carry on regulated activities. Regulated activities are activities of a kind specified by the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) which relate to an investment of a kind specified by that Order and which are carried on by way of business. SCHEDULEPART II PERSONS EXEMPT IN RESPECT OF ACCEPTING DEPOSITS16A municipal bank, that is to say a company which was, immediately before the coming into force of this Order, exempted from the prohibition in section 3 of the Banking Act 1987 by virtue of section 4(1) of, and paragraph 4 of Schedule 2 to, that Act.1987 c. 22; section 3 was amended by paragraph 3 of Schedule 5 to the Bank of England Act 1998 (c. 11). “Municipal bank" was defined in section 103 of the Banking Act 1987, which was amended by paragraph 22 of Schedule 3 to the Local Government Act 1992 (c. 19) and by paragraph 21 of Schedule 3 to the Local Government and Rating Act 1997 (c. 29).
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<dc:title>The Financial Services and Markets Act 2000 (Exemption) Order 2001</dc:title>
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<dc:subject scheme="SIheading">FINANCIAL SERVICES AND MARKETS</dc:subject>
<dc:modified>2024-05-16</dc:modified>
<dc:contributor>Expert Participation</dc:contributor>
<dct:valid>2001-12-01</dct:valid>
<dc:description>This Order provides for certain persons to be exempt from the general prohibition which is imposed by section 19 of the Financial Services and Markets Act 2000 (c. 8) (“the Act"). Exempt persons are not required to be authorised to carry on regulated activities. Regulated activities are activities of a kind specified by the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) which relate to an investment of a kind specified by that Order and which are carried on by way of business.</dc:description>
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<Number>PART II</Number>
<Title> PERSONS EXEMPT IN RESPECT OF ACCEPTING DEPOSITS</Title>
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A municipal bank, that is to say a company which was, immediately before the coming into force of this Order, exempted from the prohibition in section 3 of the Banking Act 1987
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by virtue of section 4(1) of, and paragraph 4 of Schedule 2 to, that Act.
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<Citation URI="http://www.legislation.gov.uk/id/ukpga/1987/22" id="c00017" Year="1987" Class="UnitedKingdomPublicGeneralAct" Number="22">1987 c. 22</Citation>
;
<CitationSubRef CitationRef="c00017" id="c00018" URI="http://www.legislation.gov.uk/id/uksi/2001/1201/section/3" SectionRef="section-3">section 3</CitationSubRef>
was amended by paragraph 3 of Schedule 5 to the
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1998/11" id="c00019" Year="1998" Class="UnitedKingdomPublicGeneralAct" Number="11" Title="Bank of England Act 1998">Bank of England Act 1998 (c. 11)</Citation>
. “Municipal bank" was defined in section 103 of the Banking Act 1987, which was amended by paragraph 22 of Schedule 3 to the
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1992/19" id="c00020" Year="1992" Class="UnitedKingdomPublicGeneralAct" Number="19" Title="Local Government Act 1992">Local Government Act 1992 (c. 19)</Citation>
and by paragraph 21 of Schedule 3 to the
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1997/29" id="c00021" Year="1997" Class="UnitedKingdomPublicGeneralAct" Number="29" Title="Local Government and Rating Act 1997">Local Government and Rating Act 1997 (c. 29)</Citation>
.
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