# Financial Services Act 1986 (repealed), Paragraph 29

Extent: E+W+S+N.I.

(1) The Commission shall not make a transfer order transferring any legislative functions to a transferee body unless—
(a) the body has furnished the Commission and the Secretary of State with a copy of the instruments the body proposes to issue or make in the exercise of those functions, and
(b) the Commission and the Secretary of State are both satisfied that those instruments will—
(i) afford investors an adequate level of protection,
(ii) in the case of provisions corresponding to those mentioned in Schedule 8 to this Act, comply with the principles set out in that Schedule, and
(iii) take proper account of the supervision of friendly societies by the Commission under the enactments relating to friendly societies.
(2) In this paragraph “legislative functions” means the functions of issuing or making statements of principle, rules, regulations or codes of practice.

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Source: https://www.legislation.gov.uk/ukpga/1986/60/schedule/11/paragraph/29 (the official version)
Page: https://openlegislation.uk/financial-services-act-1986-repealed/schedule-11/paragraph-29
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.