The Financial Services and Markets Act 2000 (Transitional Provisions) (Partly Completed Procedures) Order 2001

S.I. 2001/3592 · Made 6 November 2001 · Extends to United Kingdom

Contents

1. Part I: GENERAL
2. 1Citation and commencement
3. 2Definitions
4. Part II: AUTHORISATIONS AND RESTRICTIONS UNDER OLD LAW
5. Chapter I: APPLICATIONS, NOTICES OF INTENTION TO REFUSE AND SURRENDERS OF AUTHORISATION
6. Applications
7. 3Applications for authorisation
8. 4Applications for variation or cancellation of suspension or restriction
9. Notices of intention to refuse applications for authorisation or variation of suspension
10. 5Notice of intention to refuse application for authorisation or variation of suspension under the Financial Services Act
11. 6Notice of intention to refuse application for authorisation under the Banking Act
12. 7Notice of intention to refuse application for variation of limited prohibition under the 2BCD or ISD Regulations
13. Surrenders of authorisations
14. 8Surrenders of authorisations
15. Determination of applications
16. 9Procedure
17. Chapter II: NOTICES TO WITHDRAW, SUSPEND OR RESTRICT AUTHORISATION
18. Notices under the Financial Services Act
19. 10Notice of intention to withdraw or suspend authorisation under section 29 of the Financial Services Act: time for reference not expired
20. 11Withdrawal or suspension of authorisation under section 29 of the Financial Services Act: time for reference expired
21. 12Notice of intention to terminate or suspend authorisation under section 33 of the Financial Services Act: time for reference not expired
22. 13Termination or suspension of authorisation under section 33 of the Financial Services Act: time for reference expired
23. Notices under the Banking Act
24. 14Notices under the Banking Act
25. 15Effect of Banking Act notices after commencement
26. 16Decision notified under section 13(7) of the Banking Act
27. Notices under the Insurance Companies Act
28. 17Notices under the Insurance Companies Act
29. 18Effect of notices under the Insurance Companies Act after commencement
30. 19Notice of grounds of unfitness of person under the Insurance Companies Act
31. Notices under the 2BCD Regulations and the ISD Regulations
32. 20Notices under the ISD Regulations or the 2BCD Regulations
33. 21Effect of notices under the ISD Regulations or the 2BCD Regulations after commencement
34. 22Prohibition in relation to investment services under the ISD Regulations or the 2BCD Regulations: time for reference expired
35. 23Alteration of restrictions imposed under 2BCD Regulations
36. 24Notice by the Director General of Fair Trading of intention to impose a prohibition etc. under the ISD Regulations or 2BCD Regulations
37. Part III: MUTUAL SOCIETIES
38. Chapter I: PROCEDURES TAKING EFFECT AFTER COMMENCEMENT AS PROCEDURES UNDER THE ACT
39. 25Interpretation
40. 26Applications for authorisation
41. 27Notice of intention to refuse application or to impose conditions
42. 28Surrenders of authorisation
43. 29Notice of intention to withdraw or revoke authorisation
44. 30Mutual societies: notice of intention to impose conditions
45. 31Notice of intention to give a direction under section 51 of Friendly Societies Act
46. 32Proceedings under section 52A of the Friendly Societies Act
47. 33Conditions imposed under section 42A of the Building Societies Act but not confirmed before commencement
48. 34Notice of intention to give a direction under section 50 of the Building Societies Act
49. Chapter II: PROCEDURES TAKING EFFECT AFTER COMMENCEMENT AS PROCEDURES UNDER THE AMENDED BUILDING SOCIETIES ACT
50. 35Interpretation
51. 36Notice of proposed directions under section 36 of the Building Societies Act
52. 37Prohibition orders under section 36A of the Building Societies Act
53. 38Unconfirmed directions under section 42B of the Building Societies Act
54. Part IV: COLLECTIVE INVESTMENT SCHEMES
55. Chapter I: APPLICATIONS FOR AUTHORISATION ETC.
56. 39Application for authorisation of unit trust scheme
57. 40Notice of proposed alteration or change of trustee of unit trust scheme
58. 41Notice of proposed change of manager of unit trust scheme
59. 42Notice of intention to start marketing scheme constituted in another EEA State
60. 43Notice by scheme authorised in a designated country or territory
61. 44Applications by other overseas schemes for individual recognition
62. 45Notice of proposed alterations in respect of an individually recognised scheme
63. Chapter II: NOTICES OF REVOCATION OF AUTHORISATION OR RECOGNITION
64. 46Notice of revocation of authorisation of unit trust scheme
65. 47Cessation of recognition of scheme in designated country or territory
66. 48Notice of revocation of recognition of individually recognised scheme
67. Part V: OTHER PROCEDURES PENDING AT COMMENCEMENT
68. Chapter I: APPROVED PERSONS
69. 49Applications for approval
70. 50Notices under section 60 of the Insurance Companies Act
71. 51Notices under section 61 of the Insurance Companies Act
72. 52Insurance Companies Act: miscellaneous provisions
73. 53Notices in respect of bank or investment firm partners
74. Chapter II: MISCELLANEOUS
75. 54Public statements under section 60 of the Financial Services Act
76. 55Disqualification directions
77. Part VI: PROCEEDINGS OF RECOGNISED SELF-REGULATING ORGANISATIONS
78. Chapter I: INCOMPLETE DISCIPLINARY PROCEEDINGS
79. 56Interpretation
80. 57Application of this Chapter
81. 58Determination of incomplete disciplinary proceedings
82. 59Test to be applied by interim tribunal
83. 60Appropriate decisions on determination by interim tribunal
84. 61Decisions taken by the Authority giving effect to interim tribunal directions
85. 62Appeal from determination of interim tribunal
86. 63Modification of Tribunal Rules
87. 64Substitution of proceedings under the Act for proceedings before interim tribunal
88. 65Service of warning or decision notice
89. Chapter II: EXPEDITED DECISION NOTICES, ETC.
90. General
91. 66Conditions making it appropriate to give a decision notice without a warning notice
92. 67Decision notices issued pursuant to this Chapter
93. Members of self-regulating organisations
94. 68Public censure
95. 69Financial penalty
96. 70Power to order restitution
97. 71Cancellation of Part IV permission
98. 72Exercise of own initiative powers
99. Discipline of registered individuals or persons
100. 73Public statement about registered person or individual
101. 74Penalty imposed on registered person or individual
102. 75Withdrawal of approval of registered person or individual
103. Chapter III: INCOMPLETE APPEALS
104. 76Definition of “disciplinary measure”
105. 77Incomplete appeals against disciplinary measure
106. 78Task of interim tribunal when determining an appeal against disciplinary measure
107. 79Preservation of right of appeal against disciplinary measure
108. 80Modification of Tribunal Rules
109. 81Definition of “intervention measure”
110. 82Intervention measure stayed before commencement
111. 83Intervention measure not stayed before commencement
112. 84Intervention measure against registered individual or person
113. 85Summary fine imposed before commencement
114. Chapter IV: THE INTERIM TRIBUNAL
115. 86President of the interim tribunal
116. 87Constitution of the interim tribunal
117. 88Power of the Authority to make arrangements for the interim tribunal
118. 89Procedure of the interim tribunal
119. Part VII: SUPPLEMENTAL
120. 90Adaptation of dates and duration of periods in notices continued in effect
121. 91Explanation of notices continued in effect
122. 92Validity of notices continued in effect
123. 93Effect of lapsed notices
124. 94Right of third party to receive notice of post commencement decision
125. 95Right of third party to refer matter to the Tribunal
126. Part VIII: PARTLY COMPLETED EXERCISE OF EEA RIGHTS
127. Chapter 1: EEA FIRMS
128. 96EEA firms seeking to establish a branch
129. 97EEA firms seeking to provide services
130. 98EC companies seeking to carry on reinsurance business
131. 99Authority’s duties as respects incoming firms
132. Chapter II: UK FIRMS
133. 100Establishment of a branch by UK firm
134. 101Provision of services by UK firm
135. Part IX: APPEALS
136. Chapter I: REFERENCES TO THE FINANCIAL SERVICES TRIBUNAL
137. 102Interpretation
138. 103Request for reference: further consideration by the Authority
139. 104Effect of notification pursuant to article 103
140. 105Transitional reference to Financial Services Tribunal
141. 106Task of the Financial Services Tribunal on transitional reference
142. 107Appropriate decisions on determination of transitional reference
143. 108Modification of section 100 of Financial Services Act in relation to transitional reference
144. 109Test to be applied by the Financial Services Tribunal
145. 110Decisions taken by the Authority giving effect to Financial Services Tribunal recommendations
146. 111Modification of Financial Services Tribunal Rules
147. Chapter II: APPEALS TO THE BANKING APPEAL TRIBUNAL
148. 112Preservation of right of appeal under the Banking Act
149. 113Application of the Banking Act to transitional appeals
150. 114Task of the banking appeal tribunal in relation to a transitional Banking Act appeal
151. 115Decisions taken by the Authority giving effect to banking appeal tribunal determination
152. 116Test to be applied by banking appeal tribunal
153. 117Modifications to Banking Appeal Tribunal Regulations 1987
154. Chapter III: APPEALS TO FRIENDLY SOCIETIES ACT TRIBUNAL
155. 118Interpretation
156. 119Preservation of right of appeal under Friendly Societies Act
157. 120Application of Friendly Societies Act to transitional appeals
158. 121Task of friendly society tribunal in relation to a transitional friendly society appeal
159. 122Decisions taken by the Authority giving effect to friendly society tribunal determinations
160. 123Test to be applied by friendly society tribunal
161. 124Modifications to Friendly Societies Appeal Tribunal Regulations 1993
162. Chapter IV: APPEALS TO BUILDING SOCIETIES ACT TRIBUNAL
163. 125Interpretation
164. 126Preservation of right of appeal under Building Societies Act
165. 127Application of original Building Societies Act to transitional appeals
166. 128Task of the building society tribunal in relation to a transitional building society appeal
167. 129Decisions taken by the Authority giving effect to building society tribunal determinations
168. 130Test to be applied by building society tribunal
169. 131Modifications to Building Societies Appeal Tribunal Regulations 1987
170. Signature
171. Schedule: Modification of the Financial Services and Markets Tribunal Rules
172. 1Paragraph 1
173. 2Paragraph 2
174. 3Paragraph 3
175. 4Paragraph 4
176. 5Paragraph 5
177. 6Paragraph 6
178. 7Paragraph 7
179. 8Paragraph 8
180. 9Paragraph 9
181. 10Paragraph 10
182. 11Paragraph 11
183. 12Paragraph 12
184. 13Paragraph 13
185. 14Paragraph 14
186. 15Paragraph 15
187. 16Paragraph 16
188. 17Paragraph 17
189. Explanatory note