Version Superseded: 01/04/2007
Point in time view as at 21/08/2002. This version of this provision has been superseded.
There are currently no known outstanding effects for The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, Section 38.
38. A person does not carry on an activity of the kind specified by article 37 if—
(a)he is a person appointed to manage the assets in question under a power of attorney; and
(b)all routine or day-to-day decisions, so far as relating to investments of a kind mentioned in article 37(a), are taken on behalf of that person by—
(i)an authorised person with permission to carry on activities of the kind specified by article 37; F1...
(ii)a person who is an exempt person in relation to activities of that kind[F2; or
(iii)an overseas person.]
Textual Amendments
F1Word in art. 38(b) omitted (1.12.2001) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2001 (S.I. 2001/3544), arts. 1(a), 6(a)
F2Art. 38(b)(iii) and word inserted (1.12.2001) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2001 (S.I. 2001/3544), arts. 1(a), 6(b)
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