The Financial Services Act 1986 (Extension of Scope of Act) Order 1992
The Order replaces the existing paragraph 25A of Schedule 1 to the Financial Services Act 1986 with a new paragraph which narrows the scope of the exclusion for which the former paragraph made provision. The former paragraph 25A provided that investment advice given in a programme included, or made for inclusion, in a programme service was not advice to which paragraph 15 of Schedule 1 to the Financial Services Act applied. The new paragraph provides that investment advice given in a television broadcasting service, a sound broadcasting service or a teletext service is not advice to which that paragraph applies. Apart from teletext, investment advice given through all other programme services of a kind described in section 201(1)(c) of the Broadcasting Act 1990, including recorded telephone services, is brought within the scope of the Financial Services Act. The Broadcasting Act 1990 contains definitions which are relevant to the expressions used in the Order.