The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019

The Financial Services and Markets Act 2000 (Exemption) Order 2001 U.K.

177.—(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 ”.

Modifications etc. (not altering text)

C1 Pts. 3-6 modified in part (31.12.2020) by The Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/680), regs. 1(2), 11(1)(4)(5) (with reg. 11(8)-(10)) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 40(f)); 2020 c. 1, Sch. 5 para. 1(1)

Commencement Information

I1 Reg. 177 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)

Marginal Citations

M1 S.I. 2001/1201.

M2 Part 1 was amended by S.I. 2003/47, 2009/118 and 2011/1043.