(1) The Financial Services and Markets Act 2000 (Carrying on Regulated Activities by Way of Business) Order 2001 [S.I. 2001/1177; amended by S.I. 2003/1475.] is amended as follows.

(2) In article 1(2) (interpretation), at the beginning of sub-paragraph (b), insert ""contract of insurance",".

(3) In article 3 (investment business) -

(a) in paragraph (1), for "this article applies", substitute "paragraph (2) applies";

(b) in paragraph (2) -

(i) for "This article", substitute "This paragraph"; and

(ii) for sub-paragraph (j), substitute -

"(j) article 64 (agreeing) so far as relevant to any of the articles mentioned in sub-paragraphs (a) to (i),

but does not apply to any insurance mediation activity.";

(c) in paragraph (3), for "This article", substitute "Paragraph (1)"; and

(d) after paragraph (3), insert -