(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 -
"(4) A person is not to be regarded as carrying on by way of business any insurance mediation activity unless he takes up or pursues that activity for remuneration.
(5) In this article
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