http://www.legislation.gov.uk/id/uksi/2001/544

http://www.legislation.gov.uk/uksi/2001/544/article/7/2006-10-01

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

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Statute Law Database

FINANCIAL SERVICES AND MARKETS

2024-05-16

Expert Participation

2006-10-01

This Order specifies kinds of activities and investments for the purposes of the Financial Services and Markets Act 2000 (“the Act"). When an activity of a specified kind is carried on by way of business in relation to an investment of a specified kind, it is a “regulated activity" for the purposes of the Act. The Financial Services and Markets Act 2000 (Carrying on Regulated Activities by Way of Business) Order 2001 (S.I. 2001/1177) makes provision as to the circumstances in which a person is, or is not, to be regarded as carrying on a regulated activity by way of business. Section 19 of the Act prohibits person who are not authorised or exempt from carrying on any regulated activity in the United Kingdom. Contravention of that prohibition is a criminal offence.

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

art. 7(2)(b)

The Financial Services (Miscellaneous) (Amendment) (EU Exit) Regulations 2019

reg. 6(1)(a)(i)

reg. 6(2)-(5)

reg. 1(3)

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

art. 7(2)(d)

(e)

The Financial Services (Miscellaneous) (Amendment) (EU Exit) Regulations 2019

reg. 6(1)(a)(ii)

reg. 6(2)-(5)

reg. 1(3)

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

art. 7(3)(b)

The Financial Services (Miscellaneous) (Amendment) (EU Exit) Regulations 2019

reg. 6(1)(b)(i)

reg. 6(2)-(5)

reg. 1(3)

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

art. 7(3)(d) and word

The Financial Services (Miscellaneous) (Amendment) (EU Exit) Regulations 2019

reg. 6(1)(b)(ii)

reg. 6(2)-(5)

reg. 1(3)

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

Sch. 3 Pt. 1

para. 2(c)

The Financial Services and Markets Act 2000 (Commodity Derivatives and Emission Allowances) Order 2023

art. 2(5)

art. 1(2)

PART II SPECIFIED ACTIVITIES

Chapter IIAccepting Deposits

Exclusions

Sums received by solicitors etc.7

1

A sum is not a deposit for the purposes of article 5 if it is received by a practising solicitor acting in the course of his profession.

2

In paragraph (1), “practising solicitor" means—

a

a solicitor who is qualified to act as such under section 1 of the Solicitors Act 1974 M1, article 4 of the Solicitors (Northern Ireland) Order 1976 M2 or section 4 of the Solicitors (Scotland) Act 1980 M3;

b

a recognised body;

c

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

d

a registered European lawyer; or

e

a partner of a registered European lawyer who is providing professional services in accordance with—

i

rules made under section 31 M4 of the Solicitors Act 1974;

ii

regulations made under article 26 of the Solicitors (Northern Ireland) Order 1976; or

iii

rules made under section 34 of the Solicitors (Scotland) Act 1980 M5.

3

In this article—

a

“a recognised body" means a body corporate recognised by—

i

the Council of the Law Society under section 9 of the Administration of Justice Act 1985 M6;

ii

the Incorporated Law Society of Northern Ireland under article 26A of the Solicitors (Northern Ireland) Order 1976 M7; or

iii

the Council of the Law Society of Scotland under section 34 of the Solicitors (Scotland) Act 1980;

b

“registered foreign lawyer" has the meaning given by section 89 of the Courts and Legal Services Act 1990 M8 or, in Scotland, section 65 of the Solicitors (Scotland) Act 1980 M9;

c

“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 M10“registered European lawyer" has the meaning given by regulation 2(1) of the European Communities (Lawyer’s Practice) Regulations 2000 M11 or regulation 2(1) of the European Communities (Lawyer’s Practice) (Scotland) Regulation 2000 M12.