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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 24 January 2013 - onwards
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8. Orders under section 22 of FSMA 2000

(1) Schedule 2 to FSMA 2000 (regulated activities) is amended as follows.

(2) In paragraph 25(1)  -

(a) after "22(1)" insert "or (1A)", and

(b) for "the Authority", in each place, substitute "either regulator".

(3) For paragraph 26 substitute  -

"Parliamentary control

26

(1) This paragraph applies to any order made under section 22(1) or (1A) which contains a statement by the Treasury that, in their opinion, the effect (or one of the effects) of the proposed order would be that an activity which is not a regulated activity would become a regulated activity.

(2) No order to which this paragraph applies may be made unless  -

(a) a draft of the order has been laid before Parliament and approved by a resolution of each House, or

(b) sub-paragraph (4) applies.

(3) Sub-paragraph (4) applies if an order to which this paragraph applies also contains a statement that the Treasury are of the opinion that, by reason of urgency, it is necessary to make the order without a draft being so laid a

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