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The Financial Services and Markets Act 2000 (Transitional Provisions) (Partly Completed Procedures) Order 2001

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  1. Introductory Text

  2. PART I GENERAL

    1. 1.Citation and commencement

    2. 2.Definitions

  3. PART II AUTHORISATIONS AND RESTRICTIONS UNDER OLD LAW

    1. CHAPTER I APPLICATIONS, NOTICES OF INTENTION TO REFUSE AND SURRENDERS OF AUTHORISATION

      1. Applications

        1. 3.Applications for authorisation

        2. 4.Applications for variation or cancellation of suspension or restriction

      2. Notices of intention to refuse applications for authorisation or variation of suspension

        1. 5.Notice of intention to refuse application for authorisation or variation of suspension under the Financial Services Act

        2. 6.Notice of intention to refuse application for authorisation under the Banking Act

        3. 7.Notice of intention to refuse application for variation of limited prohibition under the 2BCD or ISD Regulations

      3. Surrenders of authorisations

        1. 8.Surrenders of authorisations

      4. Determination of applications

        1. 9.Procedure

    2. CHAPTER II NOTICES TO WITHDRAW, SUSPEND OR RESTRICT AUTHORISATION

      1. Notices under the Financial Services Act

        1. 10.Notice of intention to withdraw or suspend authorisation under section 29 of the Financial Services Act: time for reference not expired

        2. 11.Withdrawal or suspension of authorisation under section 29 of the Financial Services Act: time for reference expired

        3. 12.Notice of intention to terminate or suspend authorisation under section 33 of the Financial Services Act: time for reference not expired

        4. 13.Termination or suspension of authorisation under section 33 of the Financial Services Act: time for reference expired

      2. Notices under the Banking Act

        1. 14.Notices under the Banking Act

        2. 15.Effect of Banking Act notices after commencement

        3. 16.Decision notified under section 13(7) of the Banking Act

      3. Notices under the Insurance Companies Act

        1. 17.Notices under the Insurance Companies Act

        2. 18.Effect of notices under the Insurance Companies Act after commencement

        3. 19.Notice of grounds of unfitness of person under the Insurance Companies Act

      4. Notices under the 2BCD Regulations and the ISD Regulations

        1. 20.Notices under the ISD Regulations or the 2BCD Regulations

        2. 21.Effect of notices under the ISD Regulations or the 2BCD Regulations after commencement

        3. 22.Prohibition in relation to investment services under the ISD Regulations or the 2BCD Regulations: time for reference expired

        4. 23.Alteration of restrictions imposed under 2BCD Regulations

        5. 24.Notice by the Director General of Fair Trading of intention to impose a prohibition etc. under the ISD Regulations or 2BCD Regulations

  4. PART III MUTUAL SOCIETIES

    1. CHAPTER I PROCEDURES TAKING EFFECT AFTER COMMENCEMENT AS PROCEDURES UNDER THE ACT

      1. 25.Interpretation

      2. 26.Applications for authorisation

      3. 27.Notice of intention to refuse application or to impose conditions

      4. 28.Surrenders of authorisation

      5. 29.Notice of intention to withdraw or revoke authorisation

      6. 30.Mutual societies: notice of intention to impose conditions

      7. 31.Notice of intention to give a direction under section 51 of Friendly Societies Act

      8. 32.Proceedings under section 52A of the Friendly Societies Act

      9. 33.Conditions imposed under section 42A of the Building Societies Act but not confirmed before commencement

      10. 34.Notice of intention to give a direction under section 50 of the Building Societies Act

    2. CHAPTER II PROCEDURES TAKING EFFECT AFTER COMMENCEMENT AS PROCEDURES UNDER THE AMENDED BUILDING SOCIETIES ACT

      1. 35.Interpretation

      2. 36.Notice of proposed directions under section 36 of the Building Societies Act

      3. 37.Prohibition orders under section 36A of the Building Societies Act

      4. 38.Unconfirmed directions under section 42B of the Building Societies Act

  5. PART IV COLLECTIVE INVESTMENT SCHEMES

    1. CHAPTER I APPLICATIONS FOR AUTHORISATION ETC.

      1. 39.Application for authorisation of unit trust scheme

      2. 40.Notice of proposed alteration or change of trustee of unit trust scheme

      3. 41.Notice of proposed change of manager of unit trust scheme

      4. 42.Notice of intention to start marketing scheme constituted in another EEA State

      5. 43.Notice by scheme authorised in a designated country or territory

      6. 44.Applications by other overseas schemes for individual recognition

      7. 45.Notice of proposed alterations in respect of an individually recognised scheme

    2. CHAPTER II NOTICES OF REVOCATION OF AUTHORISATION OR RECOGNITION

      1. 46.Notice of revocation of authorisation of unit trust scheme

      2. 47.Cessation of recognition of scheme in designated country or territory

      3. 48.Notice of revocation of recognition of individually recognised scheme

  6. PART V OTHER PROCEDURES PENDING AT COMMENCEMENT

    1. CHAPTER I APPROVED PERSONS

      1. 49.Applications for approval

      2. 50.Notices under section 60 of the Insurance Companies Act

      3. 51.Notices under section 61 of the Insurance Companies Act

      4. 52.Insurance Companies Act: miscellaneous provisions

      5. 53.Notices in respect of bank or investment firm partners

    2. CHAPTER II MISCELLANEOUS

      1. 54.Public statements under section 60 of the Financial Services Act

      2. 55.Disqualification directions

  7. PART VI PROCEEDINGS OF RECOGNISED SELF-REGULATING ORGANISATIONS

    1. CHAPTER I INCOMPLETE DISCIPLINARY PROCEEDINGS

      1. 56.Interpretation

      2. 57.Application of this Chapter

      3. 58.Determination of incomplete disciplinary proceedings

      4. 59.Test to be applied by interim tribunal

      5. 60.Appropriate decisions on determination by interim tribunal

      6. 61.Decisions taken by the Authority giving effect to interim tribunal directions

      7. 62.Appeal from determination of interim tribunal

      8. 63.Modification of Tribunal Rules

      9. 64.Substitution of proceedings under the Act for proceedings before interim tribunal

      10. 65.Service of warning or decision notice

    2. CHAPTER II EXPEDITED DECISION NOTICES, ETC.

      1. General

        1. 66.Conditions making it appropriate to give a decision notice without a warning notice

        2. 67.Decision notices issued pursuant to this Chapter

      2. Members of self-regulating organisations

        1. 68.Public censure

        2. 69.Financial penalty

        3. 70.Power to order restitution

        4. 71.Cancellation of Part IV permission

        5. 72.Exercise of own initiative powers

      3. Discipline of registered individuals or persons

        1. 73.Public statement about registered person or individual

        2. 74.Penalty imposed on registered person or individual

        3. 75.Withdrawal of approval of registered person or individual

    3. CHAPTER III INCOMPLETE APPEALS

      1. 76.Definition of “disciplinary measure”

      2. 77.Incomplete appeals against disciplinary measure

      3. 78.Task of interim tribunal when determining an appeal against disciplinary measure

      4. 79.Preservation of right of appeal against disciplinary measure

      5. 80.Modification of Tribunal Rules

      6. 81.Definition of “intervention measure”

      7. 82.Intervention measure stayed before commencement

      8. 83.Intervention measure not stayed before commencement

      9. 84.Intervention measure against registered individual or person

      10. 85.Summary fine imposed before commencement

    4. CHAPTER IV THE INTERIM TRIBUNAL

      1. 86.President of the interim tribunal

      2. 87.Constitution of the interim tribunal

      3. 88.Power of the Authority to make arrangements for the interim tribunal

      4. 89.Procedure of the interim tribunal

  8. PART VII SUPPLEMENTAL

    1. 90.Adaptation of dates and duration of periods in notices continued in effect

    2. 91.Explanation of notices continued in effect

    3. 92.Validity of notices continued in effect

    4. 93.Effect of lapsed notices

    5. 94.Right of third party to receive notice of post commencement decision

    6. 95.Right of third party to refer matter to the Tribunal

  9. PART VIII PARTLY COMPLETED EXERCISE OF EEA RIGHTS

    1. CHAPTER 1 EEA FIRMS

      1. 96.EEA firms seeking to establish a branch

      2. 97.EEA firms seeking to provide services

      3. 98.EC companies seeking to carry on reinsurance business

      4. 99.Authority’s duties as respects incoming firms

    2. CHAPTER II UK FIRMS

      1. 100.Establishment of a branch by UK firm

      2. 101.Provision of services by UK firm

  10. PART IX APPEALS

    1. CHAPTER I REFERENCES TO THE FINANCIAL SERVICES TRIBUNAL

      1. 102.Interpretation

      2. 103.Request for reference: further consideration by the Authority

      3. 104.Effect of notification pursuant to article 103

      4. 105.Transitional reference to Financial Services Tribunal

      5. 106.Task of the Financial Services Tribunal on transitional reference

      6. 107.Appropriate decisions on determination of transitional reference

      7. 108.Modification of section 100 of Financial Services Act in relation to transitional reference

      8. 109.Test to be applied by the Financial Services Tribunal

      9. 110.Decisions taken by the Authority giving effect to Financial Services Tribunal recommendations

      10. 111.Modification of Financial Services Tribunal Rules

    2. CHAPTER II APPEALS TO THE BANKING APPEAL TRIBUNAL

      1. 112.Preservation of right of appeal under the Banking Act

      2. 113.Application of the Banking Act to transitional appeals

      3. 114.Task of the banking appeal tribunal in relation to a transitional Banking Act appeal

      4. 115.Decisions taken by the Authority giving effect to banking appeal tribunal determination

      5. 116.Test to be applied by banking appeal tribunal

      6. 117.Modifications to Banking Appeal Tribunal Regulations 1987

    3. CHAPTER III APPEALS TO FRIENDLY SOCIETIES ACT TRIBUNAL

      1. 118.Interpretation

      2. 119.Preservation of right of appeal under Friendly Societies Act

      3. 120.Application of Friendly Societies Act to transitional appeals

      4. 121.Task of friendly society tribunal in relation to a transitional friendly society appeal

      5. 122.Decisions taken by the Authority giving effect to friendly society tribunal determinations

      6. 123.Test to be applied by friendly society tribunal

      7. 124.Modifications to Friendly Societies Appeal Tribunal Regulations 1993

    4. CHAPTER IV APPEALS TO BUILDING SOCIETIES ACT TRIBUNAL

      1. 125.Interpretation

      2. 126.Preservation of right of appeal under Building Societies Act

      3. 127.Application of original Building Societies Act to transitional appeals

      4. 128.Task of the building society tribunal in relation to a transitional building society appeal

      5. 129.Decisions taken by the Authority giving effect to building society tribunal determinations

      6. 130.Test to be applied by building society tribunal

      7. 131.Modifications to Building Societies Appeal Tribunal Regulations 1987

  11. Signature

    1. Schedule:

      Modification of the Financial Services and Markets Tribunal Rules.

  12. Explanatory Note

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