Introductory text

Draft Regulations laid before Parliament under section 429(2A) of the Financial Services and Markets Act 2000 (c. 8), for approval by resolution of each House of Parliament.

FINANCIAL SERVICES AND MARKETS

Made

Coming into force in accordance with regulation 1

The Treasury make these Regulations in exercise of the power conferred by paragraph 15(3) of Schedule 17 to the Financial Services and Markets Act 2000^f1 (“the Act”).

In accordance with paragraph 15(6) of Schedule 17 to the Act, the Treasury have consulted the scheme operator^f2.

In accordance with section 429(2A) of the Act^f3, a draft of these Regulations was laid before Parliament and approved by a resolution of each House of Parliament.

Annotations

Footnotes

f1: 2000 c. 8; paragraph 15 of Schedule 17 was amended by the Financial Services and Markets Act 2023 (c. 29), subsections (3) to (5) of section 63.
f2: The “scheme operator” for the purposes of the Act is the Financial Ombudsman Service Limited, which is the body corporate established by the Financial Services Authority (now the Financial Conduct Authority) under paragraph 2(1) of Schedule 17 to the Act (as originally enacted).
f3: Subsections (2A) and (2B) of section 429 were inserted by subsection (4) of section 136 of the Financial Services (Banking Reform) Act 2013 (c. 33). Subsection (2B)(d), so far as it relates to paragraph 15(3) of Schedule 17 to the Financial Services and Markets Act 2000 (c. 8), was inserted by subsections (1) and (2) of section 63 of the Financial Services and Markets Act 2023 (c. 29). There are other amendments that are not relevant.