Section 30(1A)

M falls within this paragraph if M is— the society incorporated by Lloyd's Act 1871 known by the name of Lloyd's; an authorised person with a Part 4A permission to carry on the regulated activity of— when carrying on those activities (and any other activities permitted by rules made by the FCA or the PRA under the Act); effecting or carrying out contracts of insurance under article 10 of the Regulated Activities Order; insurance risk transformation under article 13A of the Regulated Activities Order; managing the underwriting capacity of a Lloyd's syndicate under article 57 of the Regulated Activities Order, an operator (within the meaning of regulation 3(2) of the Greenhouse Gas Emissions Trading Scheme Regulations 2012), subject to compliance obligations under those Regulations who when dealing in emission allowances does not execute client orders and does not provide any investment services or perform any investment activities other than dealing on own account, provided that the operator does not apply a high-frequency algorithmic trading technique; a collective investment undertaking, pension fund or a depositary or manager of such an undertaking; a person (“P”)— provided that in each case the activity in paragraph (i) or (ii), considered both individually and on an aggregate basis, is an ancillary activity to P's main business, when considered on a group basis, and paragraph (1B) applies. dealing on own account, including a market maker, in commodity derivatives or emission allowances or derivatives thereof, excluding a person who deals on own account when executing client orders; or providing investment services, other than dealing on own account, in commodity derivatives or emission allowances or derivatives thereof to the customers or suppliers of P's main business,

← 1 · All articles · 1B →

Source: legislation.gov.uk · retrieved 2026-09-04