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The Financial Services and Markets Act 2000 (Exemption) Order 2001
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Changes over time for: Paragraph 53
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- 26/07/2013- Amendment
- 16/05/2022
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There are currently no known outstanding effects for the The Financial Services and Markets Act 2000 (Exemption) Order 2001, Paragraph 53.
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[F153.—(1) An employer who provides or makes available to their employees a cycle or cyclist's safety equipment up to the value of £1,000 under a relevant employee benefit scheme is exempt from the general prohibition in respect of any regulated activity of the kind specified by article 60N of the Regulated Activities Order (regulated consumer hire agreements).U.K.
(2) For the purposes of this paragraph—
“cycle” has the meaning given by section 192(1) of the Road Traffic Act 1988 (general interpretation);
“relevant employee benefit scheme” means a scheme operated by an employer which is designed to allow employees to take advantage of section 244 of the Income Tax (Earnings and Pensions) Act 2003 (no liability to income tax in relation to cycles and cyclist's safety equipment) and under which cycles or cyclist's safety equipment are made available in the manner described in any guidance issued by the Secretary of State.]
Textual Amendments
F1Sch. paras. 52-54 and cross-headings inserted (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (S.I. 2013/1881), arts. 1(2)(6), 14(4)
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