http://www.legislation.gov.uk/uksi/2001/1201/schedule/paragraph/53/2022-05-16The Financial Services and Markets Act 2000 (Exemption) Order 2001texttext/xmlenStatute Law DatabaseFINANCIAL SERVICES AND MARKETS2024-05-16Expert Participation2022-05-16 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 IV PERSONS EXEMPT IN RESPECT OF PARTICULAR REGULATED ACTIVITIES<Addition ChangeId="key-d9cfbaf90db72bea4448555ffbfb4e28-1676820954860" CommentaryRef="key-d9cfbaf90db72bea4448555ffbfb4e28">Cycle to work</Addition>531An 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).2For 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.Sch. 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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<dc:identifier>http://www.legislation.gov.uk/uksi/2001/1201/schedule/paragraph/53/2022-05-16</dc:identifier>
<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>
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<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 IV</Number>
<Title> PERSONS EXEMPT IN RESPECT OF PARTICULAR REGULATED ACTIVITIES</Title>
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<Addition ChangeId="key-d9cfbaf90db72bea4448555ffbfb4e28-1676820954860" CommentaryRef="key-d9cfbaf90db72bea4448555ffbfb4e28">Cycle to work</Addition>
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<Addition ChangeId="key-d9cfbaf90db72bea4448555ffbfb4e28-1676820954860" CommentaryRef="key-d9cfbaf90db72bea4448555ffbfb4e28">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).</Addition>
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<Addition ChangeId="key-d9cfbaf90db72bea4448555ffbfb4e28-1676820954860" CommentaryRef="key-d9cfbaf90db72bea4448555ffbfb4e28">For the purposes of this paragraph—</Addition>
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<Addition ChangeId="key-d9cfbaf90db72bea4448555ffbfb4e28-1676820954860" CommentaryRef="key-d9cfbaf90db72bea4448555ffbfb4e28">cycle</Addition>
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<Addition ChangeId="key-d9cfbaf90db72bea4448555ffbfb4e28-1676820954860" CommentaryRef="key-d9cfbaf90db72bea4448555ffbfb4e28">” has the meaning given by section 192(1) of the Road Traffic Act 1988 (general interpretation);</Addition>
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<Addition ChangeId="key-d9cfbaf90db72bea4448555ffbfb4e28-1676820954860" CommentaryRef="key-d9cfbaf90db72bea4448555ffbfb4e28">relevant employee benefit scheme</Addition>
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<Addition ChangeId="key-d9cfbaf90db72bea4448555ffbfb4e28-1676820954860" CommentaryRef="key-d9cfbaf90db72bea4448555ffbfb4e28">” 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.</Addition>
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<CitationSubRef id="cbwc9si75-00077" SectionRef="schedule-part-IV-crossheading-tracing-agents" URI="http://www.legislation.gov.uk/id/uksi/2001/1201/schedule/part/IV/crossheading/tracing-agents">Sch. paras. 52-54 and cross-headings</CitationSubRef>
inserted (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2013/1881" id="cbwc9si75-00078" Class="UnitedKingdomStatutoryInstrument" Year="2013" Number="1881" Title="The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013">The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (S.I. 2013/1881)</Citation>
,
<CitationSubRef CitationRef="cbwc9si75-00078" id="cbwc9si75-00079" SectionRef="article-1-2" URI="http://www.legislation.gov.uk/id/uksi/2013/1881/article/1/2">arts. 1(2)</CitationSubRef>
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,
<CitationSubRef CitationRef="cbwc9si75-00078" id="cbwc9si75-00081" SectionRef="article-14-4" URI="http://www.legislation.gov.uk/id/uksi/2013/1881/article/14/4" Operative="true">14(4)</CitationSubRef>
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