The Financial Services and Markets Act 2000 (Service of Notices) Regulations 2001

Explanatory Note

(This note is not part of the Regulations)

These Regulations make provision for the methods by which authorities with functions under the Financial Services and Markets Act 2000 (“the Act”) may give notices, directions and other documents, including documents by which requirements are imposed, to any other person on whom service is required or authorised by any provision of or made under the Act. The Regulations also provide rules for determining the date on which a person, including those authorities, will be treated as having received a document served in accordance with the Regulations.

Regulation 1 makes provision for the citation, commencement and interpretation of the Regulations.

Regulation 2 specifies the methods by which an authority with functions under the Act (“a relevant authority”) may give documents to any person. These are: delivery to the appropriate person, leaving the document at the proper address, sending by post to that address, and fax or other electronic communication (which includes e-mail). Regulations 3 to 5 contain further provisions in relation to these specified methods.

Regulation 3 makes provision as to who may be served if the person to whom a document is to be given is a legal person such as a company or a partnership. It also permits an authorised principal to be served on behalf of his appointed representative.

Regulation 4 makes provision as to the proper address for service on authorised persons, and specifies the addresses to which a document may be sent in cases where a person has not given an address in the United Kingdom for the purpose of service of documents under the Act.

Regulation 5 specifies the circumstances in which service by fax or other electronic means on a person other than a relevant authority is permissible.

A document sent by a relevant authority will be treated as having been received on a date determined in accordance with the provisions in regulation 6.

Regulation 7 makes general provision as to service on a relevant authority, while regulation 8 makes specific provision in relation to documents served on a relevant authority by fax or other electronic means. In particular, it requires that in certain circumstances a copy of a document sent by fax must be sent by another method.

Regulation 9 provides that a relevant authority is not to be treated as having been given a document until it has in fact received it, while regulation 10 makes particular provision with respect to documents which a person is required under the Act to serve on the Financial Services Authority before the end of a specified period.

Regulation 11 provides that a competent authority in another EEA State is not to be treated as having been given a document by a relevant authority until it has actually received it.