(This note is not part of the Order)

This Order amends the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (the "principal Order") so as to specify as regulated activities for the purposes of the Financial Services and Markets Act 2000 (c. 8) ("FSMA") the activities of entering into, administering, arranging and advising on regulated home reversion plans and regulated home purchase plans. The matters with respect to which regulated activities may be specified include finance arrangements in connection with the acquisition or disposal of land (paragraph 23A of Schedule 2 to FSMA, inserted by the Regulation of Financial Services (Land Transactions) Act 2005 (c. 24)). The Order also clarifies an existing provision relating to high net worth companies.

Article 3 inserts new definitions and makes a consequential amendment to the definition of "overseas person" in the principal Order.

Article 4 inserts new articles into the principal Order which specify the new regulated activities of arranging regulated home reversion plans ("home reversion arranging") and arranging regulated home purchase plans ("home purchase arranging").