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The Financial Services Act 2012 (Transitional Provisions) (Rules and Miscellaneous Provisions) Order 2013

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1.—(1) This Order may be cited as the Financial Services Act 2012 (Transitional Provisions) (Rules and Miscellaneous Provisions) Order 2013 and comes into force on 20th February 2013.

(2) In this Order—

“the 2012 Act” means the Financial Services Act 2012;

“the Authority” means the Financial Services Authority;

“the commencement date” means 1st April 2013;

“a designating body” means—

(i)

the FCA(1);

(ii)

the PRA;

(iii)

the Bank of England;

“an FCA-authorised person” means an authorised person who is not a PRA-authorised person;

“relevant instrument” has the meaning given in section 119(6) of the 2012 Act(2).

(3) Terms defined in FSMA 2000(3) have the same meaning in this Order.

(4) Paragraph 2 of Schedule 20(4) to the 2012 Act does not apply for the purposes of Parts 1, 2 and 3 of this Order.

(1)

Section 117 of the 2012 Act defines “the FCA” as meaning the Financial Conduct Authority and “the PRA” as meaning the Prudential Regulation Authority.

(2)

Section 119(6) defines “relevant instrument” as meaning rules, guidance, requirements or a code, scheme, statement or direction.

(3)

Section 117 of the 2012 Act defines “FSMA 2000” as meaning the Financial Services and Markets Act 2000 (c. 8).

(4)

Paragraph 2 of Schedule 20 provides for references to the Financial Services Authority to be read as references to the Financial Conduct Authority, and vice versa, in certain circumstances.

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