If a person would, but for the exclusion, be carrying on the regulated activities of advising on investments or advising on regulated mortgage contracts, or both, and will be doing so as a business in the United Kingdom (see AUTH 7.3), he may wish to apply to the FSA for a certificate that the exclusion applies (see AUTH 7.6). However, a person does not need a certificate to get the benefit of the exclusion. In many cases it will be clear that the exclusion in article 54 applies and a certificate is not called for. A certificate may be appropriate, however, where the exclusion appears to apply but there may be an element of doubt. The granting of a certificate would remove any such doubt.1
Certificates given under paragraph 25 of Schedule 1 to the Financial Services Act 1986 (Exclusion for periodical publications giving investment advice) do not have effect after 1 December 2001. Holders of such certificates must consider their position under the terms of the new exclusion. If a person considers that a certificate might be appropriate, a new application must be made.