Introductory text
Draft Regulations laid before Parliament under sections 71S(2) and 429(2A) and (3) of, and paragraph 26(2)(a) of Schedule 2 to, the Financial Services and Markets Act 2000 (c. 8), for approval by resolution of each House of Parliament.
FINANCIAL SERVICES
Made ***
Coming into force in accordance with regulation 1(2) and (3)
The Treasury make these Regulations in exercise of the powers conferred by sections 21(5), (6), (9), (10) and (15), 22(1) and (5), 71K, 71L, 71M, 71N(2) and (5), 71O(2), (10) and (11), 71P, 71Q, 71R and 428(3) of, and paragraph 25 of Schedule 2 to, the Financial Services and Markets Act 2000 (“the Act”)f1.
In the opinion of the Treasury, one of the effects of these Regulations is that an activity which is not a regulated activity (within the meaning given by section 22 of the Act) will become a regulated activity.
In accordance with sections 71S(2) and 429(2A) and (3) of, and paragraph 26(2)(a) of Schedule 2 to, the Actf2, a draft of these Regulations has been laid before, and approved by a resolution of, each House of Parliament.
Annotations
Footnotes
- f1
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2000 c. 8. Sections 71K to 71S were inserted by section 8(2) of the Financial Services and Markets Act 2023 (c. 29). Section 428(3) was amended by section 66(3) of that Act. Paragraph 25 of Schedule 2 was amended by section 8 of the Financial Services Act 2012 (c. 21) and section 27 of the Financial Guidance and Claims Act 2018 (c. 10).
- f2
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Subsections (2A) and (2B) of section 429 were inserted by section 136 of the Financial Services (Banking Reform) Act 2013 (c. 33). Subsections (2B)(aa) and (ab) were inserted by section 8(8)(a) of the Financial Services and Markets Act 2023. Subsection (4)(e) was amended by section 27 of the Financial Guidance and Claims Act 2018. There are other amendments that are not relevant to this instrument.