1.  This Order may be cited as the Financial Services Act 1986 (Commencement) (No.6) Order 1987.

2.  Section 62 of the Financial Services Act 1986 shall come into force on 1st December 1987 except for the purposes of the application of subsection (1) of that section to a contravention such as is mentioned in subsection (2) and in relation to any such contravention shall come into force on 3rd October 1988.

3.  Subject to the provisions of Article 4 below, section 140 of the Financial Services Act 1986 shall come into force on 1st December 1987 insofar as it is necessary to bring paragraph 22(4) and (5) of Schedule 11 to that Act into force and, subject as aforesaid, paragraph 22(4) and (5) of that Schedule shall come into force on that date.

4.  Section 140 of the Financial Services Act 1986 and paragraph 22(4) of Schedule 11 to that Act shall not come into force on 1st December 1987 for the purposes of making a contravention of the kind described in paragraph 22(4)(d) actionable at the suit of a person of the kind described in that paragraph; but that section and that paragraph shall come into force for that purpose on 3rd October 1988.

5.  The provisions specified in Schedule 1 to this Order shall come into force on 23rd November 1987.

6.  The provisions specified in Schedule 2 to this Order shall come into force on 1st December 1987.

Article 5

SCHEDULE 1PROVISIONS COMING INTO FORCE ON 23RD NOVEMBER 1987

Article 6

SCHEDULE 2PROVISIONS COMING INTO FORCE ON 1ST DECEMBER 1987

Explanatory Note

(This note is not part of the Order)

This Order brings into force on 23rd November 1987 those provisions of the Financial Services Act 1986 which will enable the Secretary of State to recognise and to revoke the recognition of investment exchanges and clearing houses which have their head office outside the United Kingdom.

The Order also brings into force on 1st December 1987 certain provisions of the Act concerning the Rehabilitation of Offenders Act 1974, and the Rehabilitation of Offenders (Northern Ireland) Order 1978, the establishment of the Financial Services Tribunal, the power to obtain compliance orders against recognised self-regulating organisations and recognised professional bodies and the provision of financial assistance for employees' share schemes.

The Order brings section 62 of and paragraphs 22(4) and (5) of Schedule 11 to the Financial Services Act 1986 into force on 1st December 1987 except insofar as those provisions would have the effect of making a breach of rules by a member of a recognised self-regulating organisation or recognised professional body actionable as a breach of statutory duty. Those provisions will come into force for that purpose on 3rd October 1988.

Note as to Earlier Commencement Orders

(This note is not part of the Order)

The following provisions of the Financial Services Act 1986 have been brought into force by commencement orders made before the date of this Order.