The Financial Services and Markets Act 2000 (Excluded Activities and Prohibitions) Order 2014
Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
2 Relevant financial institution
(1) For the purposes of this Order, a “relevant financial institution” is an institution which falls within one of the classes listed in paragraph (2), and which is not within one of the exceptions set out in paragraph (3). (2) The classes are— (a) credit institutions; (b) investment firms; (c) structured finance vehicles; (d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (e) UCITS (wherever established) and alternative investment funds; (f) management companies or alternative investment fund managers; and (g) financial holding companies and mixed financial holding companies. (3) The exceptions are— (a) ring-fenced bodies; (b) building societies; (c) bodies corporate— (i) whose purpose, or principal purpose, is that of making loans which are secured on residential property and which are funded substantially by their members, ... (ii) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (d) credit unions and other institutions referred to in Article 2.5 of the credit institutions directive (other than investment firms); (e) recognised clearing houses ... and third country central counterparties ; (ea) recognised CSDs... and third country CSDs; (f) investment firms which are not authorised to carry on by way of business (in the United Kingdom or the EEA) the activities specified by either article 14 (dealing in investments as principal) or article 21 (dealing in investments as agent) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 ; (g) a credit institution which is a UK institution or an undertaking located in an EEA state, and which is not permitted— (i) to carry on any excluded activities (and for these purposes “excluded activities” do not include anything which does not fall within the definition of excluded activities in relation to a ring-fenced body by virtue of articles 4 to 12 of this Order) or (ii) to do anything that a ring-fenced body is prohibited from doing under articles 14 to 19C of this Order, by reason of requirements, limitations or other conditions imposed on the credit institution by the FCA or the PRA or (in the case of an undertaking located in an EEA state) by its home state regulator; or by EU law or the national law to which the credit institution is subject; (ga) an institution referred to in paragraph (2)(b), (e), (f) or (g) which is an SME; (h) each of the institutions listed in the Schedule to this Order.
2 Relevant financial institution
(1) For the purposes of this Order, a “relevant financial institution” is an institution which falls within one of the classes listed in paragraph (2), and which is not within one of the exceptions set out in paragraph (3). (2) The classes are— (a) credit institutions; (b) investment firms; (c) structured finance vehicles; (d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (e) UCITS (wherever established) and alternative investment funds; (f) management companies or alternative investment fund managers; and (g) financial holding companies and mixed financial holding companies. (3) The exceptions are— (a) ring-fenced bodies; (b) building societies; (c) bodies corporate— (i) whose purpose, or principal purpose, is that of making loans which are secured on residential property and which are funded substantially by their members, ... (ii) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (d) credit unions and other institutions referred to in Article 2.5 of the credit institutions directive (other than investment firms); (e) recognised clearing houses ... and third country central counterparties ; (ea) recognised CSDs... and third country CSDs; (f) investment firms which are not authorised to carry on by way of business (in the United Kingdom or the EEA) the activities specified by either article 14 (dealing in investments as principal) or article 21 (dealing in investments as agent) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 ; (g) a credit institution which is a UK institution or an undertaking located in an EEA state, and which is not permitted— (i) to carry on any excluded activities (and for these purposes “excluded activities” do not include anything which does not fall within the definition of excluded activities in relation to a ring-fenced body by virtue of articles 4 to 12 of this Order) or (ii) to do anything that a ring-fenced body is prohibited from doing under articles 14 to 19C of this Order, by reason of requirements, limitations or other conditions imposed on the credit institution by the FCA or the PRA or (in the case of an undertaking located in an EEA state) by its home state regulator; or by EU law or the national law to which the credit institution is subject; (ga) an institution referred to in paragraph (2)(b), (e), (f) or (g) which is an SME; (h) each of the institutions listed in the Schedule to this Order.
One line that says what changes, such as "Halve the dog tax".
Who it helps, what it costs, what it fixes. It is what persuades people to support it.
How this law is officially changed
Solon does not know this law's official route yet. The proposal is recorded all the same, and the route appears here once its source is added.
A proposal here is not law. Support on Solon is evidence that people want the change; the official route says what it takes to make it law.
Sign in to file your proposal. What you have written stays on this page.
Sign in to file itThink it through
Ask what your change would do, who would gain and who would bear a cost, and where something like it is already law. The assistant reads your draft as it stands, cites the law and the studies it finds, and takes no side. What you file stays yours.