Jurisdiction(s):
United Kingdom

Key definition

Exclusions definition

What does Exclusions mean? In financial services practice, exclusions are statutory carve‑outs that mean an activity which would otherwise be a regulated activity is treated as unregulated if defined conditions are met. Across the UK (England & Wales, Scotland and Northern Ireland), exclusions are set out in the financial services and markets act 2000 (Regulated Activities) Order 2001 (SI 2001/544) (the RAO), made under FSMA 2000. The RAO specifies activities and investments and, for many of them, provides exclusions. If an exclusion applies, the activity is not a “regulated activity” for FSMA purposes (including section 22), so the general prohibition and FCA authorisation requirement...

Construction consultant appointments: limiting and excluding liability—caps, net contribution, standard forms, third-party rights and practical considerations

Published by a LexisNexis Construction expert

Practice notes

This Practice Note sets out targeted guidance on Exclusions and caps on liability applicable to consultant appointments. It should be considered alongside Practice Note: Limiting liability in construction contracts, which contains fuller detail.

Why Consultants seek to limit their liability

Professional consultants delivering design and/or other professional services on construction schemes will typically hold Professional indemnity (PI) insurance to protect them if they are sued for breaching a professional duty. Most professional appointments usually oblige consultants to procure and keep PI insurance in place. PI insurance safeguards not only the consultant, but also the employer, by ensuring there is a defined pot of funds, albeit from insurers, available to satisfy any claim against the consultant. For further detail on PI insurance, see Practice Note: Professional indemnity insurance in construction projects. However, PI cover is costly, and the limits purchased by many consultants are unlikely to meet every potential claim, particularly on major projects...

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Web page updated on 21/05/2026

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