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The Financial Services Act 1986 (Commencement) (No. 9) Order 1988

S.I. 1988/995 · Made 6 June 1988

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

FINANCIAL SERVICES

Made 6th June 1988

The Secretary of State in exercise of his powers under section 211(1) of the Financial Services Act 1986f1 hereby makes the following Order—

Annotations to the whole text

Footnotes

f1

1986 c. 60.

Contents

  1. 1Article 1
  2. 2Article 2
  3. 3Article 3
  4. 4Article 4
  5. Signature
  6. Explanatory note

1

This Order may be cited as the Financial Services Act 1986 (Commencement) (No. 9) Order 1988.

2

The provisions of section 125(8) of the Financial Services Act 1986 shall come into force on 1 July 1988 as shall the provisions of section 212(3) of and Schedule 17 to that Act insofar as they provide for the repeal of the Restrictive Trade Practices (Stock Exchange) Act 1984f1.

3

In articles 6(2) and 7 of The Financial Services Act 1986 (Commencement) (No. 8) Order 1988f1 for the word “July” there shall be substituted “December”.

4

Section 129 of the Financial Services Act 1986 insofar as it relates to paragraph 5(3) and (4) of Schedule 10 to that Act and the provisions of that Schedule not yet in force shall come into force on 1 July.

Signature

Francis Maude

Parliamentary Under Secretary of State

Department of Trade and Industry

6th June 1988

Explanatory note

(This note is not part of the Order)

This Order brings into force on 1 July 1988 those provisions of the Financial Services Act 1986 which effect the repeal of the Restrictive Trade Practices (Stock Exchange) Act 1984.

It also amends the Financial Services Act 1986 (Commencement No. 8) Order 1988 so as to postpone the coming into force of the restriction on promotion of certain collective investment schemes, namely those included in the Official List or promoted by a compliant prospectus, from 1 July to 1 December.

It also brings into force on 1 July the provisions of the Financial Services Act 1986 which disapply sections 75 to 77 of the Insurance Companies Act 1982 (right to withdraw from long term policies) in respect of contracts which constitute an investment.