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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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- 2001 No. 2255
- Explanatory Note
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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.
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