Amendment of regulation 4 of the 2008 Regulations
10. In regulation 4 (information from other persons)—
(a)after paragraph (2)(k) insert—
“(ka)a person (“P”)—
(i)who is carrying on, or who has carried on, share trading or investment management;
(ii)who is communicating, or who has communicated, in the course of business, an invitation or inducement to engage in share trading or investment management;
(kb)a person (P’s “intermediary”) who has, or who has had, arrangements with P that P is, or was, to—
(i)carry on share trading or investment management;
(ii)communicate, in the course of business, an invitation or inducement to engage in share trading or investment management;
(kc)except where sub-paragraph (d) applies, a person providing, or who has provided, professional services to the non-resident parent, P or P’s intermediary, in relation to the activities described in sub-paragraph (ka) or (kb);
(kd)a proprietor of an Academy, where “proprietor” and “Academy” have the same meaning as in section 579 of the Education Act 1996(1);”;
(b)in paragraph (2)(m) after “occupational” insert “, or personal,”;
(c)after paragraph (2)(m) insert—
“(n)the Motor Insurers’ Bureau, a company limited by guarantee, or its officers where officer has the meaning given by section 1173(1) of the Companies Act 2006(2).”;
(d)after paragraph (3) insert—
“(4) For the purposes of this regulation—
“the 2001 Order” means the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001(3)
“the 2005 Order” means the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005(4)
“carrying on share trading or investment management” means carrying on a regulated activity referred to in—
any of articles 14, 21, 25, 40, 45 or 53 of the 2001 Order in relation to shares or stock within the meaning of article 76 of that Order;
article 37 of the 2001 Order,
and an expression referring to this is to be construed accordingly;
“engage in share trading or investment management” means engaging in an activity referred to in—
any of paragraphs 3, 4, 6, 7 or 11 of Part I of Schedule 1 to 2005 Order in relation to shares or stock within the meaning of paragraph 14 of Part II of Schedule 1 to that Order,
paragraph 5 of Part I of Schedule 1 to the 2005 Order;
and an expression referring to this is to be construed accordingly;
“communicate” has the same meaning as in section 21(13) of the Financial Services and Markets Act 2000(5);
“in the course of business” and “invitation or inducement” have the same meanings as in the Financial Services and Markets Act 2000;
“professional services” has the same meaning as in section 327(8) of the Financial Services and Markets Act 2000;
“regulated activity” has the same meaning as in section 22 of the Financial Services and Markets Act 2000(6).”.
1996 c. 56. The definition of “Academy” was amended by the Education Act 2011 (c. 21), Schedule 13, paragraph 9(17)(a). The definition of “proprietor” was amended by the Education Act 2011 (c. 21), Schedule 13, paragraph 9(17)(c).
S.I. 2001/544; relevant amending instruments are S.I. 2001/3544, 2002/682, 2003/1476, 2006/3384, 2011/2687, 2013/1881, 2014/1815, 2016/392, 2017/488, 2017/500, 2017/701, 2019/679, 2021/90.
S.I. 2005/1529; relevant amending instruments are S.I. 2006/3384, 2014/366, 2014/1815, 2016/392, 2019/632, 2017/488, 2021/90.
Section 22 was amended by S.I. 2018/135, the Financial Guidance and Claims Act 2018 c. 10, Part 2, section 27(4)(b) and the Financial Services Act 2012 c. 21, Part 2, section 7(1)(a).