(This note is not part of the Order)
This Order brings into force, on 20th July 2001, the provisions of the Financial Services and Markets Act 2000 (“the Act”) listed in Part 1 of the Schedule. These are provisions relating to insolvency, including powers to make subordinate legislation.
In addition the Order brings into force, on 3rd September 2001, the provisions of the Act listed in Part 2 of the Schedule. They include provisions relating to the making of applications and the granting of permissions to come into force on the day on which section 19 of the Act comes into force, and the doing of other preparatory acts in advance of that day. (Section 19 contains the “general prohibition” on carrying on regulated activities unless authorised or exempt.)