The Financial Services and Markets Act 2000 (Transitional Provisions and Savings) (Civil Remedies, Discipline, Criminal Offences etc.) Order 2001

PART 1 GENERAL

Citation, commencement and interpretation

1.—(1) This Order may be cited as the Financial Services and Markets Act 2000 (Transitional Provisions and Savings) (Civil Remedies, Discipline, Criminal Offences etc.) Order 2001 and comes into force on the day on which section 19 comes into force.

(2) In this Order—

“the Act” means the Financial Services and Markets Act 2000;

“the 2BCD Regulations” means the Banking Coordination (Second Council Directive) Regulations 1992(1);

“the Banking Act” means the Banking Act 1987(2);

“the Building Societies Act” means the Building Societies Act 1986(3);

“commencement” means the beginning of the day on which section 19 comes into force;

“the Financial Services Act” means the Financial Services Act 1986(4);

“the Insurance Companies Act” means the Insurance Companies Act 1982(5);

“investment business” has the same meaning as in the Financial Services Act;

“the ISD Regulations” means the Investment Services Regulations 1995(6);

“recognised clearing house”, “recognised investment exchange”, “recognised professional body”, “recognised self-regulating organisation” and “recognised self-regulating organisation for friendly societies”(7) have the same meanings as in the Financial Services Act;

“the Regulated Activities Order” means the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001(8).

(3) Any reference in this Order to a section, Part or Schedule is, unless the context otherwise requires, a reference to that section or Part of, or Schedule to, the Act.

(1)

S.I. 1992/3218; amended by S.I. 1993/3225, S.I. 1995/1217, S.I. 1995/1442, S.I. 1996/1669, S.I. 1999/2094 and S.I.2000/2952.

(2)

1987 c. 22.

(3)

1986 c. 53.

(4)

1986 c. 60.

(5)

1982 c. 50.

(6)

S.I. 1995/3275; amended by the Bank of England Act 1998 (c. 11), S.I. 1996/1669 and S.I. 2000/2952.

(7)

When the Act was enacted, the only self-regulating organisations within the meaning of the Financial Services Act were the Personal Investment Authority Limited; the Investment Management Regulatory Organisation Limited; and The Securities and Futures Authority Limited. The only self-regulating organisations for friendly societies at that time were the Personal Investment Authority Limited and the Investment Management Regulatory Organisation Limited. By virtue of Schedule 21 to the Act, no new application for recognition as a self-regulating organisation or self-regulating organisation for friendly societies may be entertained.

(8)

S.I. 2001/544.