1Q1. What is the purpose of these questions and answers ("Q&As") and who should be reading them?
These Q&As are principally aimed at those involved in the running of property investment clubs or schemes involving the sale of plots of land with arrangements for obtaining planning permission in respect of them or for the disposal of the land as a whole. They are intended to help such persons understand whether they will be carrying on a regulated activity and need to be an authorised person or exempt person under section 19 of the Financial Services and Markets Act 2000. The Q&As may also be of assistance to investors in such schemes concerned about whether the scheme they are investing in should be run by an authorised or exempt person.
The Q&As that follow are set out in two sections: