The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001

money received by way of deposit is lent to others; or

any other activity of the person accepting the deposit is financed wholly, or to a material extent, out of the capital of or interest on money received by way of deposit.

under which it will be repaid, with or without interest or premium, and either on demand or at a time or in circumstances agreed by or on behalf of the person making the payment and the person receiving it; and

which are not referable to the provision of property (other than currency) or services or the giving of security.

it is paid by way of advance or part payment under a contract for the sale, hire or other provision of property or services, and is repayable only in the event that the property or services is or are not in fact sold, hired or otherwise provided;

it is paid by way of security for the performance of a contract or by way of security in respect of loss which may result from the non-performance of a contract; or

without prejudice to sub-paragraph (b), it is paid by way of security for the delivery up or return of any property, whether in a particular state of repair or otherwise.

paid by a person other than one mentioned in sub-paragraph (a) in the course of carrying on a business consisting wholly or to a significant extent of lending money;

paid by one company to another at a time when both are members of the same group or when the same individual is a majority shareholder controller of both of them; or

paid by a person who, at the time when it is paid, is a close relative of the person receiving it or who is, or is a close relative of, a director or manager of that person or who is, or is a close relative of, a controller of that person.

a solicitor who is qualified to act as such under section 1 of the Solicitors Act 1974 M7, article 4 of the Solicitors (Northern Ireland) Order 1976 M8 or section 4 of the Solicitors (Scotland) Act 1980 M9;

a recognised body;

a registered foreign lawyer in the course of providing professional services as a member of a multi-national partnership;

a registered European lawyer; or

“registered foreign lawyer" has the meaning given by section 89 of the Courts and Legal Services Act 1990 M14 or, in Scotland, section 65 of the Solicitors (Scotland) Act 1980 M15;

“multi-national partnership" has the meaning given by section 89 of the Courts and Legal Services Act 1990 but, in Scotland, is a reference to a “multi-national practice" within the meaning of section 60A of the Solicitors (Scotland) Act 1980 M16“registered European lawyer" has the meaning given by regulation 2(1) of the European Communities (Lawyer’s Practice) Regulations 2000 M17 or regulation 2(1) of the European Communities (Lawyer’s Practice) (Scotland) Regulation 2000 M18.

the redemption value of the commercial paper is not less than £100,000 (or an amount of equivalent value denominated wholly or partly in a currency other than sterling), and no part of the commercial paper may be transferred unless the redemption value of that part is not less than £100,000 (or such an equivalent amount).

a body corporate, or

a partnership,

A does not issue electronic money except on terms that the electronic device on which the monetary value is stored is subject to a maximum storage amount of not more than 150 euro; and

A’s total liabilities with respect to the issuing of electronic money do not (or will not) usually exceed 5 million euro and do not (or will not) ever exceed 6 million euro.

the condition in paragraph (4)(a) is met;

A’s total liabilities with respect to the issuing of electronic money do not (or will not) exceed 10 million euro; and

the conditions in paragraphs (4)(a) and (5)(b) are met; and

a shopping centre, airport, railway station, bus station, or campus of a university, polytechnic, college, school or similar educational establishment; or

an area which does not exceed four square kilometres;

it appears to it that A does not meet the relevant conditions, or has failed to meet the relevant conditions at any time since the certificate was given; or

the person to whom the certificate was given has contravened any rule or requirement to which he is subject as a result of article 9G.

B has made an application under Part IV of the Act for permission to carry on a regulated activity of the kind specified by article 9B (or for variation of an existing permission so as to add a regulated activity of that kind), and

on making an application for revocation of his certificate under paragraph (1), he requests that the revocation be conditional on the granting of his application under Part IV of the Act,

to provide specified information or information of a specified description; or

to produce specified documents or documents of a specified description.

the reference in subsection (1) of that section to section 165 included a reference to paragraph (4) above; and

the reference in section 166(2)(a) of the Act to an authorised person included a reference to a certified person.

“specified”, in paragraph (4), means specified in the notice mentioned in that paragraph;

a certified person (“A”) meets the relevant conditions at any time if, at that time, paragraph (4), (5) or (6) of article 9C applies.

other than through a branch in the United Kingdom; and

pursuant to a Community co-insurance operation in which the firm is participating otherwise than as the leading insurer.

is a contract under which the benefits provided by that person (“the provider") are exclusively or primarily benefits in kind in the event of accident to or breakdown of a vehicle; and

contains the terms mentioned in paragraph (2).

the assistance takes either or both of the forms mentioned in paragraph (3)(a) and (b);

the assistance is not available outside the United Kingdom and the Republic of Ireland except where it is provided without the payment of additional premium by a person in the country concerned with whom the provider has entered into a reciprocal agreement; and

assistance provided in the case of an accident or breakdown occurring in the United Kingdom or the Republic of Ireland is, in most circumstances, provided by the provider’s servants.

repairs to the relevant vehicle at the place where the accident or breakdown has occurred; this assistance may also include the delivery of parts, fuel, oil, water or keys to the relevant vehicle;

A holds himself out as willing, as principal, to buy, sell or subscribe for investments of the kind to which the transaction relates at prices determined by him generally and continuously rather than in respect of each particular transaction;

A holds himself out as engaging in the business of buying investments of the kind to which the transaction relates, with a view to selling them;

A holds himself out as engaging in the business of underwriting investments of the kind to which the transaction relates; or

A regularly solicits members of the public with the purpose of inducing them, as principals or agents, to enter into transactions constituting activities of the kind specified by article 14, and the transaction is entered into as a result of his having solicited members of the public in that manner.

authorised persons or persons who are exempt persons in relation to activities of the kind specified by article 14;

members of the same group as A;

persons who are or who propose to become participators with A in a joint enterprise;

any person who is solicited by A with a view to the acquisition by A of 20 per cent or more of the voting shares in a body corporate;

any person whose head office is outside the United Kingdom, who is solicited by an approach made or directed to him at a place outside the United Kingdom and whose ordinary business involves him in carrying on activities of the kind specified by any of articles 14, 21, 25, 37, 40, 45, 51, 52 and 53 or (so far as relevant to any of those articles) article 64, or would do so apart from any exclusion from any of those articles made by this Order.

with or through an authorised person, or an exempt person acting in the course of a business comprising a regulated activity in relation to which he is exempt; or

through an office outside the United Kingdom maintained by a party to the transaction, and with or through a person whose head office is situated outside the United Kingdom and whose ordinary business involves him in carrying on activities of the kind specified by any of articles 14, 21, 25, 37, 40, 45, 51, 52 and 53 or, so far as relevant to any of those articles, article 64 (or would do so apart from any exclusion from any of those articles made by this Order).

“company" means any body corporate other than an open-ended investment company;

“shares" and “debentures" include any investment of the kind specified by article 76 F58, 77 or 77A;

“share warrants" and “debenture warrants" mean any investment of the kind specified by article 79 which relates to shares in the company concerned or, as the case may be, debentures issued by F59the person concerned.

the transaction relates to investments of the kind specified by any of articles 83 to 85 (or article 89 so far as relevant to any of those articles);

neither B nor C is an individual;

the sole or main purpose for which B enters into the transaction (either by itself or in combination with other such transactions) is that of limiting the extent to which a relevant business will be affected by any identifiable risk arising otherwise than as a result of the carrying on of a regulated activity; and

B;

a member of the same group as B; or

where B and another person are, or propose to become, participators in a joint enterprise, that other person.

the transaction is entered into on advice given to the client by an authorised person; or

it is clear, in all the circumstances, that the client, in his capacity as an investor, is not seeking and has not sought advice from the agent as to the merits of the client’s entering into the transaction (or, if the client has sought such advice, the agent has declined to give it but has recommended that the client seek such advice from an authorised person).

the transaction relates to a contract of insurance; or

the agent receives from any person other than the client any pecuniary reward or other advantage, for which he does not account to the client, arising out of his entering into the transaction.

the transaction relates to investments of the kind specified by any of articles 83 to 85 (or article 89 so far as relevant to any of those articles);

neither B nor C is an individual;

the sole or main purpose for which B enters into the transaction (either by itself or in combination with other such transactions) is that of limiting the extent to which a relevant business will be affected by any identifiable risk arising otherwise than as a result of the carrying on of a regulated activity; and

a member of the same group as B; or

where B and another person are, or propose to become, participators in a joint enterprise, that other person;

a security,

a F73relevant investment, or

an investment of the kind specified by article 86, or article 89 so far as relevant to that article,

for another person to enter into a regulated mortgage contract as borrower; or

for another person to vary the terms of a regulated mortgage contract entered into by him as borrower after the coming into force of article 61, in such a way as to vary his obligations under that contract,

for another person to enter into a regulated home reversion plan as reversion seller or as plan provider; or

for another person to vary the terms of a regulated home reversion plan, entered into on or after 6th April 2007 by him as reversion seller or as plan provider, in such a way as to vary his obligations under that plan,

for another person to enter into a regulated home purchase plan as home purchaser; or

for another person to vary the terms of a regulated home purchase plan, entered into on or after 6th April 2007 by him as home purchaser, in such a way as to vary his obligations under that plan,

of the kind specified by article 76, 77, F7877A, 78, 79, 80, 81, 83, 84 or 85; or

of the kind specified by article 89 so far as relevant to an investment falling within sub-paragraph (a),

for another person to enter into a regulated sale and rent back agreement as an agreement seller or as an agreement provider; or

for another person (“A”) to vary the terms of a regulated sale and rent back agreement, entered into on or after 1st July 2009 by A as agreement seller or agreement provider, in such a way as to vary A’s obligations under that agreement,

is the only policyholder; or

as a result of the transaction, would become the only policyholder.

for a F89contract F90, plan or agreement into which the person making the arrangements enters or is to enter; or

for a variation of a F89contract F90, plan or agreement to which that person is (or is to become) a party.

the transaction is or is to be entered into on advice to the client by an authorised person; or

it is clear, in all the circumstances, that the client, in his capacity as an F96investor, borrower, reversion seller, plan provider, home purchaser, agreement provider or (as the case may be) agreement seller, is not seeking and has not sought advice from A as to the merits of the client’s entering into the transaction (or, if the client has sought such advice, A has declined to give it but has recommended that the client seek such advice from an authorised person).

the transaction relates, or would relate, to a contract of insurance; or

A receives from any person other than the client any pecuniary reward or other advantage, for which he does not account to the client, arising out of his making the arrangements.

anything done by an authorised person (“B”) in relation to a regulated mortgage contract which B is administering pursuant to an arrangement of the kind mentioned in article 62(a); or

anything A does in connection with the administration of a regulated mortgage contract in circumstances falling within article 62(b).

anything done by an authorised person (“B”) in relation to a regulated home reversion plan which B is administering pursuant to an arrangement of the kind mentioned in article 63C(a); or

anything A does in connection with the administration of a regulated home reversion plan in circumstances falling within article 63C(b).

anything done by an authorised person (“B”) in relation to a regulated home purchase plan which B is administering pursuant to an arrangement of the kind mentioned in article 63G(a); or

anything A does in connection with the administration of a regulated home purchase plan in circumstances falling within article 63G(b).

anything done by an authorised person (“B”) in relation to a regulated sale and rent back agreement which B is administering pursuant to an arrangement of the kind mentioned in article 63K(a); or

anything A does in connection with the administration of a regulated sale and rent back agreement in circumstances falling within article 63K(b).

a relevant authorised person or a person acting on his behalf will introduce to the money-lender persons with whom the relevant authorised person has entered, or proposes to enter, into a relevant transaction, or will advise such persons to approach the money-lender, with a view to the money-lender lending money on the security of any contract effected pursuant to a relevant transaction;

a relevant authorised person gives an assurance to the money-lender as to the amount which, on the security of any contract effected pursuant to a relevant transaction, will or may be received by the money-lender should the money-lender lend money to a person introduced to him pursuant to the arrangements.

the conditions mentioned in paragraph (2) are satisfied.

the conditions mentioned in paragraph (2) are satisfied.

the conditions mentioned in paragraph (2) are satisfied.

the conditions mentioned in paragraph (2) are satisfied.

that the person making the introduction (“P”) does not receive any money, other than money payable to P on his own account, paid by the client for or in connection with any transaction which the client enters into with or through N as a result of the introduction; and

that before making the introduction P discloses to the client such of the information mentioned in paragraph (3) as applies to P.

that P is a member of the same group as N;

details of any payment which P will receive from N, by way of fee or commission, for introducing the client to N;

an indication of any other reward or advantage received or to be received by P that arises out of his introducing clients to N.

for the purposes of paragraph (1), a borrower within the meaning given by article 61(3)(a)(i), or a person who is or may be contemplating entering into a regulated mortgage contract as such a borrower;

for the purposes of paragraph (1A), a reversion seller, a plan provider or a person who is or may be contemplating entering into a regulated home reversion plan as a reversion seller or as a plan provider;

for the purposes of paragraph (1B), a home purchaser or a person who is or may be contemplating entering into a regulated home purchase plan as a home purchaserF123;

for the purposes of paragraph (1C), an agreement provider, an agreement seller or a person who is or may be contemplating entering into a regulated sale and rent back agreement as an agreement provider or agreement seller.

arrangements made by a company for the purposes of issuing its own shares or share warrants; and

arrangements made by any person for the purposes of issuing his own debentures or debenture warrants;

the body or association does not have its head office in the United Kingdom;

the body or association is not eligible for recognition under section 287 or 288 of the Act (applications by investment exchanges and clearing houses) on the ground that (whether or not it has applied, and whether or not it would be eligible on other grounds) it is unable to satisfy the requirements of one or both of paragraphs (a) and (b) of section 292(3) of the Act (requirements for overseas investment exchanges and overseas clearing houses);

the body or association is able and willing to co-operate with the Authority by the sharing of information and in other ways;

adequate arrangements exist for co-operation between the Authority and those responsible for the supervision of the body or association in the country or territory in which its head office is situated;

the body or association has a membership composed of persons falling within any of the following categories, that is to say, authorised persons, exempt persons, and persons whose head offices are outside the United Kingdom and whose ordinary business involves them in engaging in activities which are activities of a kind specified by this Order (or would be apart from any exclusion made by this Part); and

the body or association facilitates and regulates the activity of its members in the conduct of international securities business.

the investments are securities or F124relevant investments and are of a kind which, by their nature, and the manner in which the business is conducted, may be expected normally to be bought or dealt in by persons sufficiently expert to understand the risks involved; and

either the transaction is international or each of the parties may be expected to be indifferent to the location of the other;

he is a person appointed to manage the assets in question under a power of attorney; and

expert appraisal;

loss adjusting on behalf of a relevant insurer; or

managing claims on behalf of a relevant insurer,

the safeguarding of assets belonging to another, and

the administration of those assets,

the assets consist of or include any investment which is a security or a contractually based investment; or

the arrangements for their safeguarding and administration are such that the assets may consist of or include such investments, and either the assets have at any time since 1st June 1997 done so, or the arrangements have at any time (whether before or after that date) been held out as ones under which such investments would be safeguarded and administered.

it is immaterial that title to the assets safeguarded and administered is held in uncertificated form;

it is immaterial that the assets safeguarded and administered may be transferred to another person, subject to a commitment by the person safeguarding and administering them, or arranging for their safeguarding and administration, that they will be replaced by equivalent assets at some future date or when so requested by the person to whom they belong.

are ones under which a qualifying custodian undertakes to the person to whom the assets belong a responsibility in respect of the assets which is no less onerous than the qualifying custodian would have if the qualifying custodian were safeguarding and administering the assets; and

are operated by the qualifying custodian in the course of carrying on in the United Kingdom an activity of the kind specified by article 40.

an authorised person who has permission to carry on an activity of the kind specified by article 40, or

an exempt person acting in the course of a business comprising a regulated activity in relation to which he is exempt.

“qualifying custodian" has the meaning given by article 41(2); and

a person is connected with P if either he is a member of the same group as P, or P is remunerated by him.

“the 2001 Regulations” means the Uncertificated Securities Regulations 2001;

“dematerialised instruction", “Operator", “settlement bank" and “system-participant" have the meaning given by regulation 3 of the F1482001 Regulations.

“offeror" means, in the case of a takeover offer made by two or more persons jointly, the joint offers or any of them;

establishing, operating or winding up a collective investment scheme;

acting as trustee of an authorised unit trust scheme;

acting as the depositary or sole director of an open-ended investment company.

he asks a retail consumer questions to enable him to assess whether a stakeholder product is appropriate for that consumer; and

the retail consumer has indicated to P that he has understood the description and the recommendation in sub-paragraph (b).

is given to the person in his capacity as a borrower or potential borrower; and

that of giving advice of a kind mentioned in article 53 F167, 53A, 53B F168, 53C or 53D, as the case may be; nor

anything done by an authorised person (“B”) in relation to a regulated mortgage contract which B is administering pursuant to arrangements of the kind mentioned in article 62(a); or

anything A does in connection with the administration of a regulated mortgage contract in circumstances falling within article 62(b).

anything done by an authorised person (“B”) in relation to a regulated home reversion plan which B is administering pursuant to arrangements of the kind mentioned in article 63C(a); or

anything A does in connection with the administration of a regulated home reversion plan in circumstances falling within article 63C(b).

anything done by an authorised person (“B”) in relation to a regulated home purchase plan which B is administering pursuant to arrangements of the kind mentioned in article 63G(a); or

anything A does in connection with the administration of a regulated home purchase plan in circumstances falling within article 63G(b).

anything done by an authorised person (“B”) in relation to a regulated sale and rent back agreement which B is administering pursuant to arrangements of the kind mentioned in article 63K(a); or

anything A does in connection with the administration of a regulated sale and rent back agreement in circumstances falling within article 63K(b).

a person (“the customer") makes one or more payments to another person (“the provider"); and

the provider undertakes to provide, or secure that another person provides, a funeral in the United Kingdom for the customer (or some other person who is living at the date when the contract is entered into) on his death;

the provider undertakes to secure that sums paid by the customer under the contract will be applied towards a contract of whole life insurance on the life of the customer (or other person for whom the funeral is to be provided), effected and carried out by an authorised person who has permission to effect and carry out such contracts of insurance, for the purpose of providing the funeral; or

the provider;

a member of the same group as the provider;

a director, other officer or employee of the provider, or of any member of the same group as the provider;

a partner of the provider;

a close relative of a person falling within sub-paragraph (a), (c) or (d); or

an agent of any person falling within sub-paragraphs (a) to (e).

“credit" includes a cash loan, and any other form of financial accommodation.

a “first legal mortgage" means a legal mortgage ranking in priority ahead of all other mortgages (if any) affecting the land in question, where “mortgage" includes charge and (in Scotland) a heritable security;

the area of any land which comprises a building or other structure containing two or more storeys is to be taken to be the aggregate of the floor areas of each of those storeys;

“timeshare accommodation” means overnight accommodation which is the subject of a timeshare contract within the meaning of the Timeshare, Holiday Products, Resale and Exchange Contracts Regulations 2010.

“timeshare accommodation” has the meaning given by section 1 of the Timeshare Act 1992;

in relation to England and Wales, has the meaning given by section 3 of the Care Standards Act 2000;

in relation to Scotland, means accommodation provided by a “care home” within the meaning of section 2(3) of the Regulation of Care (Scotland) Act 2001;

references to entering into a regulated home reversion plan as plan provider include acquiring any obligations or rights (including his interest in land) of the plan provider, under such a plan; but

in relation to a person who acquires any such obligations or rights, an activity is a specified kind of activity for the purposes of articles 25B(1)(b) and 53B(b)(ii) and paragraph (2) only if the plan was entered into by the plan provider (rather than the obligations or rights acquired) on or after 6th April 2007.

“timeshare accommodation” means overnight accommodation which is the subject of a timeshare contract within the meaning of the Timeshare, Holiday Products, Resale and Exchange Contracts Regulations 2010; and

references to entering into a regulated sale and rent back agreement as agreement provider include acquiring any obligations or rights of the agreement provider, including the agreement provider’s interest in land or interests under one or more of the instruments or agreements referred to in paragraph (3)(a); but

in relation to a person who acquires any such obligations or rights, an activity is a specified kind of activity for the purposes of articles 25E(1)(b) and 53D(b)(ii) and paragraph (2) only if the agreement was entered into by the agreement provider (rather than the obligations or rights acquired) on or after 1st July 2009.

the meeting of repayment claims by a reclaim fund;

the management of dormant account funds (including the investment of such funds) by a reclaim fund.