The Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) (Amendment) Order 2005

• Citation: S.I. 2005/1532
• Sections: 2

Section 1

This Order may be cited as the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) (Amendment) Order 2005 and comes into force on 1st July 2005.

Section 2

(1) The Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001 is amended as follows.

(2) In article 23A (self-certified sophisticated investors) -

(a) delete paragraph (4)(a) and the word “and” immediately following it;

(b) in paragraph (4)(b), delete “in the case of a real time communication,”; and

(c) in paragraph (5), after “buying” insert “the”.

(3) In paragraph (a) of article 24 (associations of high net worth or sophisticated investors) after “an association” insert “, or to a member of an association,” and after “article 23” insert “or 23A”.