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True - the only legal restrictions concerning Katana's cover the purchase / importation / manufacture NOT use or carry- They are subject to the same laws as fixed blade knives.
As of 6th April 2008 the The Criminal Justice Act 1988 (Offensive Weapons)(Amendment) Order 2008 came into force and Katanas are now classed as offensive weapons. So no they are not subject to the same laws as fixed blades, but to the same laws as flick knives, push daggers, knuckle dusters etc.
The only exemptions are for permitted activities such as historical re-enactment or sporting activities and 3rd party insurance must be in cover for the event. Bushcraft unfortunately isn't a permitted activity. Historical or traditional blades from Japan are exempt, but bearing in mind the costs of these exquisite blades even I wouldn't have one as "a user".
http://www.statutelaw.gov.uk/conten...469672&ActiveTextDocId=3469672&filesize=17370