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)
C1Pts. 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
I1Reg. 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
M2Part 1 was amended by S.I. 2003/47, 2009/118 and 2011/1043.
