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The Financial Services (Schemes Authorised in Designated Countries or Territories) (Notification) Regulations 1989
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- UK Statutory Instruments
- 1989 No. 1584
- Explanatory Note
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Explanatory Note
(This note is not part of the Regulations)
These Regulations prescribe the period of four months as the period within which the Securities and Investments Board may notify the operator of a scheme which is managed in and authorised under the law of a country or territory designated under section 87 of the Financial Services Act 1986 that the scheme is not to be recognised. The Regulations have effect only where the operator has given notice to the Securities and Investments Board on or after the date on which the Regulations come into force that he wishes the scheme to be recognised. Where notice has been given before that date, the prescribed period is two months.
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