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STATUTORY INSTRUMENTS

2001 No. 1061

FINANCIAL SERVICES

The Financial Services Act 1986 (Exemption) Order 2001

  Made 19th March 2001 
  Laid before Parliament 19th March 2001 
  Coming into force 9th April 2001 

The Treasury, in exercise of the powers conferred upon them by section 46(1)[1] of the Financial Services Act 1986[2], hereby make the following Order:

     1. This Order may be cited as the Financial Services Act 1986 (Exemption) Order 2001 and comes into force on 9th April 2001.

     2. Article 3 of the Financial Services Act 1986 (Miscellaneous Exemptions) Order 1995[3] is omitted.


Jim Dowd

David Jamieson
Two of the Lords Commissioners of Her Majesty's Treasury

19th March 2001


EXPLANATORY NOTE

(This note is not part of the Order)


This Order removes the exemption for CDC Group plc (formerly the Commonwealth Development Corporation) from the Financial Services Act 1986 (Miscellaneous Exemptions) Order 1995 (S.I. 1995/202). CDC Group plc will cease to be an exempted person for the purposes of the Financial Services Act 1986 and will, should it carry on investment business in the United Kingdom, require authorisation under that Act.

Notes:

 [1] The functions of the Secretary of State under section 46 were transferred to the Treasury by S.I. 1992/1315.back

[2] 1986 c. 60.back

[3] S.I. 1995/202; amended by the Financial Services Act 1986 (Exemption) Order 1999 (S.I. 1999/3085).back


ISBN 0 11 029095 X


 © Crown copyright 2001

Prepared 29 March 2001

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