The Financial Services and Markets Act 2000 (Regulated Activities etc.) (Amendment) Order 2025
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Change 1
11 Application of the 2000 Act to persons with temporary permission
(1) This article applies to a person who has temporary permission to carry on a relevant activity in relation to relevant activities carried on under that temporary permission. (2) The temporary permission of that person does not have effect as a Part 4A permission for the purposes of— (a) section 38(2) (exemption orders); (b) section 39(1C)(a) (exemption of appointed representatives); (c) section 55A(3) (application for permission); (d) section 59 (approval for particular arrangements); (e) section 63E (certification of employees by authorised persons). (3) For the purposes of section 39 (exemption of appointed representatives), that person may be an appointed representative in relation to an activity which that person does not have temporary permission to carry on. (4) Where that person applies to the FCA— (a) under section 55A for permission to carry on a regulated activity which is not a relevant activity; or (b) under section 55H to vary a Part 4A permission by adding to the activities to which the permission relates a regulated activity which is not a relevant activity, the application may be treated by the FCA as relating also to either or both of the regulated activities for which that person has temporary permission. (5) If the FCA treats the application as relating also to either or both of the regulated activities for which that person has a temporary permission, article 12(4) does not apply in relation to the application. (6) The duty imposed by section 55B(3) (satisfaction of threshold conditions) does not apply where the FCA exercises its power in relation to that person under— (a) section 55J (variation or cancellation on initiative of regulator); (b) section 55H (variation by FCA at request of authorised person) to remove a regulated activity from those for which A has temporary permission; (c) section 55L (imposition of requirements by FCA). (7) Where, immediately before the regulatory commencement date, that person is not an authorised person, that person is not to be treated, by virtue of article 10(2), as an authorised person for the purposes of Part 12 (control of authorised persons). (8) For the purposes of the compensation scheme established under section 213, a claim made against that person in connection with any activity which that person’s temporary permission permits them to carry on is to be treated as if it were not made in connection with regulated activities carried on by that person. (9) The activity to which that person’s temporary permission permits them to carry on is to be treated as if it were not a regulated activity for the purposes of— (a) construing the reference to the only regulated activities that a person carries on, or seeks to carry on, which is contained in paragraphs 2C(1A), 2D(3A) and 2F(3) of Schedule 6 (threshold conditions); and (b) article 6A(1)(b) of the Financial Services and Markets Act 2000 (Controllers) (Exemption) Order 2009. (10) In this article, a reference to a numbered section, Part or Schedule is a reference to the section, Part or Schedule so numbered in the 2000 Act.
11 Application of the 2000 Act to persons with temporary permission
(1) This article applies to a person who has temporary permission to carry on a relevant activity in relation to relevant activities carried on under that temporary permission. (2) The temporary permission of that person does not have effect as a Part 4A permission for the purposes of— (a) section 38(2) (exemption orders); (b) section 39(1C)(a) (exemption of appointed representatives); (c) section 55A(3) (application for permission); (d) section 59 (approval for particular arrangements); (e) section 63E (certification of employees by authorised persons). (3) For the purposes of section 39 (exemption of appointed representatives), that person may be an appointed representative in relation to an activity which that person does not have temporary permission to carry on. (4) Where that person applies to the FCA— (a) under section 55A for permission to carry on a regulated activity which is not a relevant activity; or (b) under section 55H to vary a Part 4A permission by adding to the activities to which the permission relates a regulated activity which is not a relevant activity, the application may be treated by the FCA as relating also to either or both of the regulated activities for which that person has temporary permission. (5) If the FCA treats the application as relating also to either or both of the regulated activities for which that person has a temporary permission, article 12(4) does not apply in relation to the application. (6) The duty imposed by section 55B(3) (satisfaction of threshold conditions) does not apply where the FCA exercises its power in relation to that person under— (a) section 55J (variation or cancellation on initiative of regulator); (b) section 55H (variation by FCA at request of authorised person) to remove a regulated activity from those for which A has temporary permission; (c) section 55L (imposition of requirements by FCA). (7) Where, immediately before the regulatory commencement date, that person is not an authorised person, that person is not to be treated, by virtue of article 10(2), as an authorised person for the purposes of Part 12 (control of authorised persons). (8) For the purposes of the compensation scheme established under section 213, a claim made against that person in connection with any activity which that person’s temporary permission permits them to carry on is to be treated as if it were not made in connection with regulated activities carried on by that person. (9) The activity to which that person’s temporary permission permits them to carry on is to be treated as if it were not a regulated activity for the purposes of— (a) construing the reference to the only regulated activities that a person carries on, or seeks to carry on, which is contained in paragraphs 2C(1A), 2D(3A) and 2F(3) of Schedule 6 (threshold conditions); and (b) article 6A(1)(b) of the Financial Services and Markets Act 2000 (Controllers) (Exemption) Order 2009. (10) In this article, a reference to a numbered section, Part or Schedule is a reference to the section, Part or Schedule so numbered in the 2000 Act.
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