PART 2AMENDMENTS TO THE COMPANIES LEGISLATION

Companies Act 1985 (c. 6)

Limitations on exemptions for small and medium-sized groups12

In subsection (2) of section 248 of the Act (exemption for small and medium-sized groups), for paragraphs (b) to (d) substitute—

b

a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to carry on a regulated activity, or

c

a person who carries on an insurance market activity.