The Financial Services Act 1986 (EEA Regulated Markets) (Exemption) Order 1995
The Order makes provision for an exemption from the scope of the authorisation requirement imposed by Part I of the Financial Services Act 1986. The exemption is needed because Article 15.4 of Council Directive No. 93/22/EEC on investment services in the securities field (OJ No, L141, 10.5.93, p. 27) (“the Investment Services Directive”) has the effect that an EEA State must allow a market of the kind described in the Order to place within the territory of the State the facilities necessary to enable investment firms from that State to become members of the market or to have access to it.