The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 No. 544

PART II U.K. SPECIFIED ACTIVITIES

Chapter IX U.K. Sending Dematerialised Instructions

Exclusions U.K.

Instructions on behalf of settlement banks U.K.

47.  There is excluded from article 45 the act of sending, or causing to be sent, a dematerialised instruction where the person on whose behalf the instruction is sent or caused to be sent is a settlement bank in its capacity as such.