Explanatory Note
(This note does not form part of the Order)
This Order is supplementary to—
the Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649) (“the principal order”) which came into force on 1st December 2001 at the same time as the coming into force of the Financial Services and Markets Act 2000 (c. 8) (“FSMA”); and
the Financial Services and Markets Act 2000 (Consequential Amendments) Order 2002 (S.I. 2002/1555) which came into force on 3rd July 2002.
This Order corrects or adjusts amendments made in those two orders, and makes additional amendments which are consequential upon the repeal by article 3 of the principal order of the legislation which established the regulatory regimes which have been replaced by FSMA.
Articles 2 to 5 make amendments to primary legislation, including a rectification to an amendment of section 40 of the Pensions Act 1995 (c. 26) made by the principal order.
Articles 6 to 11 amend secondary legislation, including amendments to the Schedules to the Limited Liability Partnerships Regulations 2001 which apply, with appropriate modifications, provisions of the Companies Act 1985 and the Insolvency Act 1986 to limited liability partnerships. These amendments reflect amendments made to the Companies Act and the Insolvency Act by the principal order.
Articles 12 to 27 amend Northern Ireland legislation.