The Financial Services and Markets Act 2023 (Mutual Recognition Agreement) (Switzerland) Regulations 2025
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Change 1
22 Exemption from the general prohibition under Part 2 of FSMA 2000
(1) A person to whom this regulation applies is an exempt person for the purposes of section 19(1)(b) of FSMA 2000 (the general prohibition). (2) The exemption has effect in respect of a regulated activity which, when carried on by that person, satisfies the requirements in regulation 25. (3) The person is also exempt in respect of a regulated activity which that person needs to carry on— (a) in order to transfer the property, rights or liabilities under a pre-existing contract to— (i) a registered Swiss supplier, or (ii) an authorised person (as defined by section 31 of FSMA 2000), or (b) in order to comply with a requirement imposed by or under an enactment.
22 Exemption from the general prohibition under Part 2 of FSMA 2000
(1) A person to whom this regulation applies is an exempt person for the purposes of section 19(1)(b) of FSMA 2000 (the general prohibition). (2) The exemption has effect in respect of a regulated activity which, when carried on by that person, satisfies the requirements in regulation 25. (3) The person is also exempt in respect of a regulated activity which that person needs to carry on— (a) in order to transfer the property, rights or liabilities under a pre-existing contract to— (i) a registered Swiss supplier, or (ii) an authorised person (as defined by section 31 of FSMA 2000), or (b) in order to comply with a requirement imposed by or under an enactment.
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