Explanatory note

This Order amends the Financial Services and Markets Act 2000 (Transitional Provisions) (Complaints Relating to General Insurance and Mortgages) Order 2004 (S.I. 2004/454) (“the principal Order”).

This Order corrects several errors in the principal Order in relation to the commencement date and revokes article 10 of the principal Order which provided for the application of the definition of “consumer” under the Act to customers of firms against whom complaints could be made before commencement of the principal Order which are dealt with under the new scheme pursuant to the principal Order (“transitional complaints”). This provision is now unnecessary in view of rules to be made by the Financial Services Authority.

This Order adds article 12 to the principal Order which relieves the Authority of its duty to consult on new rules or guidance under sections 155 and 157(3) of the Act in relation to the effect of this Order and the application of rules and guidance made or to be made before the commencement date of the principal Order to persons against whom transitional complaints may be made. Similar provision is made in relation to rules made by the scheme operator of the Financial Ombudsman Scheme.