The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 3) Order 2003

• Citation: S.I. 2003/2822
• Sections: 3

Section 1 Citation and commencement

This Order may be cited as the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 3) Order 2003, and comes into force on 1st December 2003.

Section 2 Amendment of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001

The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (“the principal Order”) is amended as follows.

Section 3 Company dealing in own shares as principal

After article 18 of the principal Order insert—

Dealing by a company in its own shares

(18A)

(1) A company does not carry on an activity of the kind specified by article 14 by purchasing its own shares where section 162A of the Companies Act 1985 (Treasury shares) applies to the shares purchased.

(2) A company does not carry on an activity of the kind specified by article 14 by dealing in its own shares held as treasury shares, in accordance with section 162D of that Act (Treasury shares: disposal and cancellation).

(3) In this article “shares held as treasury shares” has the same meaning as in that Act.