Search Legislation

The Financial Services and Markets Act 2000 (Exemption) Order 2001

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Paragraph 51

 Help about opening options

Alternative versions:

Status:

Point in time view as at 03/01/2018.

Changes to legislation:

There are currently no known outstanding effects for the The Financial Services and Markets Act 2000 (Exemption) Order 2001, Paragraph 51. Help about Changes to Legislation

[F151.(1) A person acting as a policyholder advocate is exempt from the general prohibition in respect of any regulated activity of the kind specified by article 25 or 53 of the Regulated Activities Order (arranging deals in investments or advising on investments) in so far as he carries on these activities in connection with, or for the purposes of, his role as policyholder advocate.U.K.

(2) In sub-paragraph (1), “policyholder advocate” means a person who is—

(a)appointed by an insurer (“I”) to represent the interests of policyholders in negotiations with I about I’s proposals to redefine the rights and interests in any surplus assets arising in I’s with-profits fund; and

(b)approved or nominated by the [F2FCA] to carry out that role.

(3) In sub-paragraph (2), “with-profits fund” means a long-term insurance fund in which policyholders are eligible to participate in surplus assets of the fund.]

Back to top

Options/Help