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The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001
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Choice of investments by trustees of occupational pension scheme under a trust: meaning of “proper advice”
151. For paragraph (a) of Article 36(6) of the Pensions (Northern Ireland) Order 1995 (choice of investments: meaning of “proper advice”) substitute—
“(a)if the giving of the advice constitutes the carrying on, in the United Kingdom, of a regulated activity (within the meaning of the Financial Services and Markets Act 2000), advice given by a person who may give it without contravening the prohibition imposed by section 19 of that Act (prohibition on carrying on regulated activities unless authorised or exempt);”.
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