PART 5Amendments to other secondary legislation

The Financial Services and Markets Act 2000 (Exemption) Order 2001177.

(1)

The Financial Services and Markets Act 2000 (Exemption) Order 2001 M1 is amended as follows.

(2)

In Part 1 of the Schedule M2 (persons exempt in respect of any regulated activity other than insurance business) omit paragraphs 2 to 6.

(3)

In Part 4 of the Schedule (persons exempt in respect of particular regulated activities), in paragraph 48 (social housing)—

(a)

in sub-paragraph (1A)(b)(i), for “the mortgages directive does not apply by virtue of Article 3(2) of that directive” substitute “ section 423A(3) of the Act applies ”;

(b)

in sub-paragraph (4), in the definition of “bridging loan”, for “Article 4(23) of the mortgages directive” substitute “ article 60G(9) of the Regulated Activities Order ”.