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The Financial Services and Markets Act 2000 (Transitional Provisions) (Designated Date for The Securities and Futures Authority) Order 2001
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Statutory Instruments
2001 No. 2255
FINANCIAL SERVICES AND MARKETS
The Financial Services and Markets Act 2000 (Transitional Provisions) (Designated Date for The Securities and Futures Authority) Order 2001
Made
20th June 2001
Laid before Parliament
20th June 2001
Coming into force
13th July 2001
The Treasury, in exercise of the powers conferred on them by section 428(3) of, and paragraph 1 of Schedule 21 to, the Financial Services and Markets Act 2000(1) (“the Act”), hereby make the following Order:
1. This Order may be cited as the Financial Services and Markets Act 2000 (Transitional Provisions) (Designated Date for The Securities and Futures Authority) Order 2001 and comes into force on 13th July 2001.
2. For the purposes of paragraph 1(5) of Schedule 21 to the Act, 13th July 2001 is the designated date for The Securities and Futures Authority Limited.
Anne McGuire
Tony McNulty
Two of the Lords Commissioners of Her Majesty’s Treasury
20th June 2001
Explanatory Note
(This note is not part of the Order)
The Securities and Futures Authority Limited is a recognised self-regulating organisation under the Financial Services Act 1986 (c. 60). Schedule 21 to the Financial Services and Markets Act 2000 (c. 8) (“the Act”) makes transitional provisions in relation to the provisions of the Financial Services Act 1986 which relate to the recognition and subsequent supervision of recognised self-regulating organisations, pending the repeal of that Act. Schedule 21 to the Act came into force on the passing of the Act but paragraph 1(3), which relates to the revocation of recognition orders under section 11 of the Financial Services Act 1986 and applications to the court for a compliance order under section 12 of that Act, apply from a date designated by the Treasury.
The Financial Services and Markets (Transitional Provisions) (Designated Date for Certain Self-Regulating Organisations) Order 2000 (S.I. 2000/1734) designated 25th July 2000 as the designated date for the Personal Investment Authority Limited and the Investment Management Regulatory Organisation Limited. This Order designates 13th July 2001 as the designated date for The Securities and Futures Authority Limited.
(1)
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