exempt person
A person who is exempt from the general prohibition under the Financial Services and Markets Act 2000, in respect of the activities it carries on. Exempt persons can therefore carry on regulated activities (regulated activity) without authorisation from the Financial Services Authority. Exempt persons include the Bank of England, clearing houses and appointed representatives.
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Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • exempt — ex·empt 1 /ig zempt/ adj: free or released from some obligation or duty to which others are subject: not subject or liable certain properties are declared to be exempt and cannot be taken by a person s creditors J. H. Williamson exempt 2 vt: to… …   Law dictionary

  • Exempt — Ex*empt , a. [F. exempt, L. exemptus, p. p. of eximere to take out, remove, free; ex out + emere to buy, take. Cf. {Exon}, {Redeem}.] 1. Cut off; set apart. [Obs.] [1913 Webster] Corrupted, and exempt from ancient gentry. Shak. [1913 Webster] 2.… …   The Collaborative International Dictionary of English

  • exempt supply — A supply of goods or services falling within Schedule 9 of the Value Added Tax Act 1994. A person making exempt supplies is not required to account for output tax on the exempt supplies but is unable to recover the input tax on those supplies… …   Law dictionary

  • exempt fund manager — A person who manages investment accounts on a discretionary basis and is recognised by the Panel on Takeovers and Mergers as an exempt fund manager for the purposes of the City Code on Takeovers and Mergers. Practical Law Dictionary. Glossary of… …   Law dictionary

  • exempt market maker — A person who is registered as a market maker with the London Stock Exchange in relation to the securities in the target company or, if applicable, the bidder, or is accepted by the Panel on Takeovers and Mergers as a market maker in those… …   Law dictionary

  • exempt — [eg zempt′, igzempt′] vt. [ME exempten < Anglo Fr exempter < L exemptus, pp. of eximere, to take out: see EXAMPLE] to free from a rule or obligation which applies to others; excuse; release adj. [L exemptus] not subject to or bound by a… …   English World dictionary

  • exempt — [[t]ɪgze̱mpt[/t]] exempts, exempting, exempted 1) ADJ: usu v link ADJ, usu ADJ from n If someone or something is exempt from a particular rule, duty, or obligation, they do not have to follow it or do it. Men in college were exempt from military… …   English dictionary

  • exempt — exemptible, adj. /ig zempt /, v.t. 1. to free from an obligation or liability to which others are subject; release: to exempt a student from an examination. adj. 2. released from, or not subject to, an obligation, liability, etc.: organizations… …   Universalium

  • exempt — [ɪg zɛm(p)t, ɛg ] adjective free from an obligation or liability imposed on others: these patients are exempt from all charges. verb make exempt. noun a person who is exempt from something, especially the payment of tax. Derivatives exemption… …   English new terms dictionary

  • exempt — ex•empt [[t]ɪgˈzɛmpt[/t]] v. t. 1) to free from an obligation or liability to which others are subject; release: to exempt a student from an examination[/ex] 2) released from, or not subject to, an obligation, liability, etc.: organizations… …   From formal English to slang

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