General

Amendments of Financial Services and Markets Act 2000 and repeals
15
1
The enactments mentioned in Schedule 5 are repealed to the extent specified.
2
For the purposes of the Financial Services and Markets Act 2000, the functions conferred on the Financial Services Authority by virtue of Schedules 1 and 2 are to be treated as conferred by that Act.
3
Section 356 of that Act (Authority’s powers to participate in proceedings: company voluntary arrangements) is amended as follows—
a
for subsection (1), there is substituted—
1
Where a voluntary arrangement has effect under Part I of the 1986 Act in respect of a company or insolvent partnership which is an authorised person, the Authority may apply to the court under section 6 or 7 of that Act.
,
b
for subsection (2), there is substituted—
2
Where a voluntary arrangement has been approved under Part II of the 1989 Order in respect of a company or insolvent partnership which is an authorised person, the Authority may apply to the court under Article 19 or 20 of that Order.
,
c
in subsection (3), for “either” there is substituted “any”.

Commencement
16
1
The preceding provisions of this Act (including the Schedules) are to come into force on such day as the Secretary of State may by order made by statutory instrument appoint.
2
Subsection (1) does not apply to section 14 (which accordingly comes into force on the day on which this Act is passed).
3
An order under this section may make different provision for different purposes and may make—
a
any supplementary, incidental or consequential provision, and
b
any transitory, transitional or saving provision,
which the Secretary of State considers necessary or expedient.

Extent
17
This Act, except section 15(3), Part II of Schedule 2 and paragraphs 16(3) and 22 of Schedule 4, does not extend to Northern Ireland.

Short title
18
This Act may be cited as the Insolvency Act 2000.
2000 c. 8.