Citation, commencement and interpretation1

1

This Order may be cited as the Financial Services and Markets Act 2000 (Consequential and Transitional Provisions) (Miscellaneous) (No. 2) Order 2001.

2

This Order comes into force for the purposes of articles 2, 4 and 7 on 11th August 2001, and for all other purposes on 3rd September 2001.

3

In this Order—

  • “the Act” means the Financial Services and Markets Act 2000;

  • “the Authorised Persons Order” means the Financial Services and Markets Act 2000 (Transitional Provisions) (Authorised Persons etc.) Order 20012;

  • “the Banking Act” means the Banking Act 19873;

  • “commencement” means the beginning of the day on which section 19 comes into force;

  • “the Financial Services Act” means the Financial Services Act 19864;

  • “the Insurance Companies Act” means the Insurance Companies Act 19825;

  • “pending authorised person” means a person who has been given a Part IV permission under section 42 (even though the permission is not yet in force);

  • “regulated person” means—

    1. a

      an authorised person within the meaning of the Financial Services Act;

    2. b

      a person who is an exempted person by virtue of section 436 (listed money market institutions) or section 447 (appointed representatives) of that Act;

    3. c

      an authorised institution within the meaning of the Banking Act;

    4. d

      a person who is authorised under section 3 or 4 of the Insurance Companies Act8;

    5. e

      a European institution within the meaning of the Banking Coordination (Second Council Directive) Regulations 19929;

    6. f

      a European investment firm within the meaning of the Investment Services Regulations 199510;

    7. g

      an EC company within the meaning of the Insurance Companies Act which, by virtue of paragraph 1 or 8 of Schedule 2F to that Act11, is able to carry on direct insurance business through a branch in the United Kingdom or provide insurance in the United Kingdom;

    8. h

      a friendly society which is authorised or treated as authorised for the purposes of Part IV of the Friendly Societies Act 199212, or which is permitted by virtue of section 31(2) or (3) of that Act to carry on any activities without authorisation under that Part;

    9. i

      a building society which is authorised or treated as authorised for the purposes of the Building Societies Act 198613; or

    10. j

      any person who is not, but has at any time been, a person specified by any of sub-paragraphs (a) to (i);

  • “transitional authorised person” means a person who is of such a description, and with respect to whom such conditions are met, that (if he is of that description, and if those conditions are met, immediately before commencement) he will, at commencement, be treated as having a Part IV permission by virtue of the Authorised Persons Order;

  • “transitional permission” means any Part IV permission which a transitional authorised person will be treated as having at commencement by virtue of the Authorised Persons Order.

4

In this Order, except where otherwise specified, references to a numbered section, Part or Schedule are references to that section or Part of, or Schedule to, the Act.