{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000-fourth-motor-insurance-directive-regulations-2002/regulation-2",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-fourth-motor-insurance-directive-regulations-2002/regulation-2.json",
  "legislation": "uksi/2002/2706",
  "legislation_title": "The Financial Services and Markets Act 2000 (Fourth Motor Insurance Directive) Regulations 2002",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-fourth-motor-insurance-directive-regulations-2002",
  "path": "regulation/2",
  "kind": "regulation",
  "number": "2",
  "heading": "Power of the Financial Conduct Authority to make rules under section 137A of the Financial Services and Markets Act 2000",
  "text": "(1) Rules made by the Financial Conduct Authority under section 137A of the Financial Services and Markets Act 2000 (“the 2000 Act”) (The FCA’s general rules) may require a relevant authorised person to pay interest in specified circumstances in respect of claims made for compensation.\n(2) In paragraph (1)—\n(a) “relevant authorised person” means an authorised person with a Part IV permission (within the meaning of the 2000 Act)—\n(i) to effect or carry out relevant contracts of insurance; or\n(ii) to manage the underwriting capacity of a Lloyd’s syndicate as a managing agent, the members of which effect or carry out relevant contracts of insurance underwritten at Lloyd’s;\nwhere a “relevant contract of insurance” means a contract of insurance against damage arising out of or in connection with the use of motor vehicles on land (other than carrier’s liability);\n(b) “specified” means specified in the rules.\n(3) Rules made pursuant to paragraph (1) may not come into force before 19th January 2003.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in reg. 2(1) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), reg. 1(1), Sch. 2 para. 78(b)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Reg. 2 heading substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), reg. 1(1), Sch. 2 para. 78(a)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2002/2706/regulation/2",
    "retrieved_at": "2026-10-29T06:41:15.525078+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}