The Financial Services and Markets Act 2000 (Transitional Provisions) (Authorised Persons etc. ) Order 2001

S.I. 2001/2636 · Made 20 July 2001 · Extends to United Kingdom

Contents

1. Part I: GENERAL
2. 1Citation and commencement
3. 2Definitions
4. Part II: AUTHORISATION AND PERMISSION FOR PERSONS AUTHORISED ETC. UNDER OLD LAW
5. Chapter I: permissions under part iv of the act
6. Persons authorised or exempted under the Financial Services Act
7. 3Authorisation under section 25 of the Financial Services Act
8. 4Authorisation under section 7 of the Financial Services Act
9. 5Persons certified by designated professional bodies
10. 6Listed institutions
11. 7Lloyd’s underwriting agents
12. 8Lloyd’s members' advisers
13. 9Appointed representatives
14. 10Investment business carried on overseas before commencement
15. Persons authorised under the Banking Act
16. 11Persons authorised under the Banking Act
17. 12Banking business carried on overseas before commencement
18. 13Permission to carry on non-banking listed activities
19. Insurance companies
20. 14Companies authorised under the Insurance Companies Act
21. 15EC companies carrying on reinsurance business
22. 16EC companies carrying on investment business
23. 17Insurance business carried on overseas before commencement
24. Friendly societies etc.
25. 18Friendly societies authorised under the Friendly Societies Act
26. 19Friendly societies: other permissions
27. 20Societies registered under the Friendly Societies Act 1974
28. 21Insurance business carried on overseas by friendly societies before commencement
29. Building societies
30. 22Building societies authorised under the Building Societies Act
31. 23Banking business carried on overseas by building societies before commencement
32. Supplemental
33. 24Persons with more than one old authorisation etc.
34. Chapter II: authorisation and permission under schedule 3
35. EEA firms with “passports” under the 2BCD or ISD Regulations
36. 25EEA firms with “passports” under the 2BCD or ISD Regulations
37. EEA firms with “passports” under the Insurance Companies Act
38. 26EC companies carrying on direct insurance through UK branch
39. 27EC companies providing insurance in UK
40. Chapter III: authorisation, permission etc. under schedule 4
41. Treaty firms authorised under section 31 of the Financial Services Act
42. 28Treaty firms authorised under section 31 of the Financial Services Act
43. 29Certificates under section 31(4) of the Financial Services Act
44. Treaty firms which are insurance companies
45. 30EC companies carrying on reinsurance business through UK branch
46. 31EC companies carrying on investment business as Treaty firms
47. Status for purposes of Part XIII of the Act
48. 32Status for purposes of Part XIII of the Act
49. Chapter IV: supplemental
50. 33Old transitional provision
51. Part III: EFFECT OF RESTRICTIONS AND PROHIBITIONS IMPOSED UNDER OLD LAW
52. Prohibitions and requirements under the Financial Services Act
53. 34Prohibitions and requirements under sections 65 to 68 of the Financial Services Act
54. 35Prohibitions and requirements imposed by recognised self-regulating organisations or recognised professional bodies
55. 36Supplemental provision relating to requirements under section 67 of the Financial Services Act etc.
56. 37Requirements imposed under the Financial Services Act by virtue of the 2BCD or ISD Regulations as a matter of urgency
57. Restrictions and directions under the Banking Act
58. 38Restrictions under section 12 of the Banking Act
59. 39Directions under section 19 of the Banking Act
60. Directions and requirements under the Insurance Companies Act
61. 40Directions under sections 11 and 12A of the Insurance Companies Act
62. 41Requirements under sections 38, 39, 40, 41, 43 and 45 of the Insurance Companies Act
63. 42Order of the court under section 40A of the Insurance Companies Act
64. 43Requirements imposed on former Lloyd’s underwriting members
65. 44Requirements and directions under Schedule 2F to the Insurance Companies Act
66. Conditions and directions under the Friendly Societies Act
67. 45Conditions imposed under the Friendly Societies Act
68. 46Direction under section 40 of the Friendly Societies Act
69. 47Direction under section 51 of the Friendly Societies Act
70. 48Order of the court under section 52A of the Friendly Societies Act
71. 49Direction under section 53 of the Friendly Societies Act
72. Conditions and directions under the Building Societies Act
73. 50Conditions and directions imposed under the Building Societies Act
74. 51Direction under section 43A of the Building Societies Act
75. Prohibitions and restrictions under the 2BCD and ISD Regulations
76. 52Prohibitions and restrictions under regulations 9, 10 and 15 of the 2BCD Regulations and regulation 9 of the ISD Regulations
77. 53Prohibitions and restrictions under regulations 18 and 19 of the 2BCD Regulations and regulations 15 and 16 of the ISD Regulations
78. Supplemental
79. 54Supplemental
80. Part IV: SCOPE OF PERMISSION: PROCEDURE
81. 55Notice of scope of permission
82. 56Responding to the scope of permission notice
83. 57Scope of permission where person agrees with notice
84. 58Final view notices
85. 59Scope of permission following final view notice
86. 60Scope of permission where reference is made to the Tribunal
87. 61Information for public file of mutual society
88. 62Application of section 20
89. 63Requirement to reapply for Part IV permission
90. 64Requirement to reapply: procedure
91. Part V: COLLECTIVE INVESTMENT SCHEMES
92. Chapter 1: authorisation and recognition of schemes
93. 65Authorised unit trust schemes
94. 66Schemes constituted in other EEA States Repealed
95. 67Schemes authorised in designated countries or territories
96. 68Individually recognised overseas schemes
97. Chapter II: directions imposed on schemes
98. 69Directions imposed on authorised unit trust schemes
99. 70Directions imposed on schemes authorised in designated countries or territories
100. 71Directions imposed on individually recognised schemes
101. Part VI: APPROVED PERSONS
102. 72General rule
103. 73Persons previously approved subject to conditions
104. 74Appointment approved but not taken up before commencement: section 60 of the Insurance Companies Act
105. 75Appointment approved but not taken up before commencement: section 61 of the Insurance Companies Act
106. 76Appointment of partner approved but not taken up before commencement
107. Part VII: OTHER TRANSITIONAL STATUS AFTER COMMENCEMENT
108. 77UK firms with “passports” before commencement
109. 78Disqualification of auditors
110. 79Employment of prohibited persons: disqualification directions
111. 80International securities self-regulating organisations
112. Signature
113. Explanatory note