Part 1: Regulatory Framework Designated activities regime Section 8: Designated activities New section 71M: Designated activity regulations: general
This section provide that designated activity regulations can make provision about the carrying on of delegated activities.
	Subsection (2) gives examples of what could be included in designated activity regulations. This includes the ability to state in which circumstances the restrictions on carrying out a designated activity imposed by section 71L are to apply to a person carrying out the activity outside the United Kingdom. Subsection 2(b) enables HM Treasury to make designated activity regulations supplementing or connected to any FCA rules in relation to designated activities.
	Subsection (3) allows HM Treasury to make exemptions through designated activity regulations, for example to exclude a certain type of firm from the requirement to follow designated activities rules and designated activities regulations. It also gives HM Treasury the ability to confer powers both on itself and on the FCA through designated activity regulations.