# The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001, Article 564: Transfer of business: prescribed matters for transfer statements and transfer notification statements

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

(1) In paragraph 10 of Part II of Schedule 1 to the Building Societies (Transfer of Business) Regulations 1998 (matters of which particulars are to be included in the case of a transfer to an existing company)—
(a) the existing text becomes sub-paragraph (1);
(b) in that sub-paragraph, for the words from “become” to the end substitute “have relevant permission”;
(c) after that sub-paragraph insert—
“(2) “Relevant permission” means—
(a) such permission under Part 4 of the Financial Services and Markets Act 2000, or
(b) such permission under paragraph 15 of Schedule 3 to that Act (as a result of qualifying for authorisation under paragraph 12 of that Schedule),
as will enable the successor company to carry on the business which it will have as a result of the transfer without being taken (by virtue of section 20 of that Act) to have contravened a requirement imposed on it by the Authority under that Act.”.
(2) In paragraph 4 of Part III of that Schedule (matters of which particulars are to be included in the case of a transfer to a specially formed company)—
(a) the existing text becomes sub-paragraph (1);
(b) in that sub-paragraph, for the words from “become” to the end substitute “have relevant permission”;
(c) after that sub-paragraph insert—
“(2) “Relevant permission” has the meaning given by paragraph 10(2) of Part II of this Schedule.”.
(3) In paragraph 4 of Schedule 3 to those Regulations (prescribed matters for transfer notification statements)—
(a) the existing text becomes sub-paragraph (1);
(b) in that sub-paragraph for the words from “become” to the end substitute “have relevant permission”;
(c) after that sub-paragraph insert—
“(2) “Relevant permission” has the meaning given by paragraph 10(2) of Part II of Schedule 1 to these Regulations.”.

---
Source: https://www.legislation.gov.uk/uksi/2001/3649/article/564 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-and-repeals-order-2001/article-564
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.