This Order substitutes a new paragraph 6A of the Schedule to the Financial Services and Markets Act 2000 (Collective Investment Schemes) Order 2001 (S.I. 2001/1062) “the CIS Order”. The Schedule to the CIS Order sets out the kinds of arrangements which do not amount to a collective investment scheme as defined in section 235 of the Financial Services and Markets Act 2000 (c. 8) (“FSMA”). Existing paragraph 6A of the Schedule provides that electronic systems in relation to lending (the operation of which is specified as a regulated activity in article 36H of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544)) and the operation of arrangements closely associated with this, are not a collective investment scheme.