On 19 January 2010, there was published on the Office of Public Sector Information (OPSI) website The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2010 (the Order).
The Order inserts a new article 77A into the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (the Principal Order) to make alternative finance investment bonds a specified investment for the purposes of the Financial Services and Markets Act 2000 (the Act).
Article 3 of the Order amends the Financial Services and Markets Act 2000 (Collective Investment Schemes) Order 2001 so that alternative finance investment bonds that satisfy the conditions of the new article 77A of the Principal Order are afforded the equivalent treatment to conventional bonds which are specified investments under article 77 of the Principal Order.
The Schedule to the Order contains consequential amendments to primary and secondary legislation the broad aim of which is to treat alternative finance investment bonds in the same manner as conventional bonds.
A full impact assessment of the effect that the Order will have on the costs of business and the voluntary sector is annexed to the Explanatory Memorandum which is available alongside the instrument on the OPSI website.