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Amendment of the Exemption Order

6.  In Part 4 of the Schedule (persons exempt in respect of particular regulated activities)—

(a)in paragraph 40 (enterprise schemes), after sub-paragraph (2) insert—

(3) This paragraph does not apply where an investment firm or credit institution—

(a)provides or performs investment services and activities on a professional basis, and

(b)in doing so, but for the operation of this paragraph, it would be treated as carrying on an activity of a kind specified by Part 2 of the Regulated Activities Order.;

(b)in paragraph 42 (gas industry)—

(i)in sub-paragraph (1), for “or 25” substitute “, 25 or 25D”, and for “or arranging deals in investments” substitute “, arranging deals in investments or operating a multilateral trading facility”;

(ii)in sub-paragraph (2), for “or 25” substitute “, 25 or 25D”, and for “or arranging deals in investments” substitute “, arranging deals in investments or operating a multilateral trading facility”;

(c)in paragraph 49 (electricity industry)—

(i)in sub-paragraph (1), after “25” insert “, 25D”, and after “arranging deals in investments” insert “, operating a multilateral trading facility”;

(ii)in sub-paragraph (2), for “or 25” substitute “, 25 or 25D”;

(iii)in sub-paragraph (3), after “25” insert “, 25D”;

(iv)in sub-paragraph (4), after “25” insert “or 25D”;

(v)in sub-paragraph (5), after “25” insert “or 25D”.