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The Financial Services and Markets Act 2000 (Commencement No. 7) Order 2001
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- 2001 No. 3538 (C. 115)
- Explanatory Note
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Explanatory Note
(This note is not part of the Order)
Except as otherwise provided, article 2 of this Order brings into force, on 1st December 2001, all of the provisions of the Financial Services and Markets Act 2000 (“the Act”), so far as not already in force, on 1st December 2001 (“the appointed day”). These provisions include section 19 of the Act (the general prohibition).
Article 2 brings into force section 104 of the Act for the purpose of insurance business transfer schemes on the appointed day; section 347(1) and (2) of the Act on different dates for different purposes; certain provisions in section 416 of the Act (dissolution of existing statutory compensation schemes) on 2nd March 2002; and the amendments to, and repeals of, the Credit Unions Act 1979 which are made by the Act on 2nd July 2002.
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