On 20 March 2020, there was published on legislation.gov.uk the Financial Services and Markets Act 2000 (Exemption) (Amendment) Order 2020 (Amendment Order).

The Amendment Order amends the list of persons in Part 1 of the Schedule to the Financial Services and Markets Act 2000 (Exemption) Order 2001 (the Principal Order) to include Covid Corporate Financing Facility Limited (the Company).

The Principal Order exempts certain persons from the general prohibition set out in section 19 of the Financial Services and Markets Act 2000 (the Act), which provides that no person may carry on a regulated activity within the United Kingdom unless that person is either authorised or exempt.

The purpose of the Order is to exempt the Company from the general prohibition in respect of any regulated activities specified in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (the RAO), other than the regulated activity specified in article 10 of the RAO (effecting and carrying out contracts of insurance).