7.  The Housing (Scotland) Act 2001 (Commencement No. 1, Transitional Provisions and Savings) Order 2001(1) is hereby varied as follows:

(a)the reference to paragraph 14(5)(b) of Schedule 10 to the Act in the Table of Modifications is deleted; and

(b)after article 3(2), the following paragraphs are inserted:

(3) Notwithstanding the commencement of Part 3 of, and Schedules 7 and 8 to, the Act by virtue of article 2(3) above, references in that Part and those Schedules to the Financial Services Authority shall be construed as references to the assistant registrar of friendly societies for Scotland until section 19 of the Financial Services and Markets Act 2000(2) comes into force.

(4) Notwithstanding the repeal of section 24 of the Housing Associations Act 1985(3) by virtue of article 2(3) above, the Registered Housing Associations (Accounting Requirements) (Scotland) Order 1999(4) shall continue to have effect as if–

(a)references in that Order to a registered housing association are to a registered social landlord; and

(b)references in that Order to Scottish Homes are to the Scottish Ministers;

until the earlier of–

(i)the date on which an Order made under paragraph 13 of Schedule 7 to the Act comes into force; or

(ii)the date on which guidance is issued under section 79 of the Act in relation to the accounting and auditing requirements of registered social landlords..