The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2022

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

4.  In the Financial Services and Markets Act 2000 (Exemption) Order 2001(1), after paragraph 52(1) of the Schedule (official receivers etc)(2), insert—

“(4) A person who—

(a) acts as an official receiver within the meaning of section 399 of the Insolvency Act 1986(3) or article 2 of the Insolvency (Northern Ireland) Order 1989(4), and

(b) by virtue of that office, becomes the liquidator of a company in accordance with section 136(5) of the Insolvency Act 1986 or article 116 of the Insolvency (Northern Ireland) Order 1989,

is exempt from the general prohibition in respect of any regulated activity of the kind specified by article 59(1A) of the Regulated Activities Order (carrying out a funeral plan contract as provider).”.

(1)

S.I. 2001/1201.

(2)

Paragraph 52 of the Schedule was inserted by S.I. 2013/1881. Sub-paragraphs (1)(a), (2) and (3) were revoked by S.I. 2014/366.

(3)

1986 c. 45. Section 399 was amended by paragraphs 1 and 14 of Schedule 23 to the Enterprise Act 2002 (c. 40), paragraphs 1 and 7 of Schedule 20 to the Tribunals, Courts and Enforcement Act 2007 (c. 15) and paragraph 93 of Schedule 9 to the Crime and Courts Act (c. 22).

(4)

S.I. 1989/2405 (N.I. 19). The definition of “the official receiver” in article 2 was amended by S.I. 2005/1455 and by section 4(1) and (2) of the Debt Relief Act (Northern Ireland) 2010 (c. 16). There are other amendments to article 2 which are not relevant to this Order.

(5)

Section 136 was amended by paragraphs 1 and 31 of Schedule 9 to the Small Business, Enterprise and Employment Act 2015 (c. 26).