HC Deb 01 February 2000 vol 343 cc1012-3

".—(1) The general prohibition does not apply to the carrying on of a regulated activity by a person (`P') if—

  1. (a) the conditions set out in subsections (2) to (7) are satisfied; and
  2. (b) there is not in force—
    1. (i) a direction under section (Directions in relation to the general prohibition), or
    2. (ii) an order under section (Orders in relation to the general prohibition),
which prevents this subsection from applying to the carrying on of that activity by him. (2) P must be—
  1. (a) a member of a profession; or
  2. (b) controlled or managed by one or more such members.
 (3) P must not receive from a person other than his client any pecuniary reward or other advantage, for which he does not account to his client, arising out of his carrying on of any of the activities. (4) The manner of the provision by P of any service in the course of carrying on the activities must be incidental to the provision by him of professional services. (5) P must not carry on, or hold himself out as carrying on, a regulated activity other than one which rules made as a result of section (Rules in relation to persons to whom the general prohibition does not apply)(3) allow him to carry on. (6) The activities must not be of a description, or relate to an investment of a description, specified in an order made by the Treasury for the purposes of this subsection. (7) The activities must be the only regulated activities carried on by P. (8) 'Professional services' means services—
  1. (a) which do not constitute carrying on a regulated activity, and
  2. (b) the provision of which is supervised and regulated by a designated professional body.".—,[Miss Melanie Johnson.]
 Brought up, read the First and Second time, and added to the Bill.

Forward to