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The Financial Services and Markets Act 2000 (Consequential Amendments) (Taxes) Order 2001
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Mis-sold personal pensions
93.—(1) Amend section 148(6) (mis-sold personal pensions: interpretation) as follows.
(2) In the definition of “bad investment advice” for paragraph (d) substitute—
“(d)by reason of a contravention which is actionable—
(i)under section 62 of the Financial Services Act 1986; or
(ii)under section 150 of the Financial Services and Markets Act 2000;”.
(3) For the definition of “investment advice” substitute—
““investment advice”—
(a)in relation to a time before 1st December 2001, means advice such as is mentioned in paragraph 15 of Schedule 1 to the Financial Services Act 1986; and
(b)in relation to a time on or after that date, means advice such as is mentioned in Article 53 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001;”.
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