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STATUTORY INSTRUMENTS

2001 No. 2255

FINANCIAL SERVICES AND MARKETS

The Financial Services and Markets Act 2000 (Transitional Provisions) (Designated Date for The Securities and Futures Authority) Order 2001

  Made 20th June 2001 
  Laid before Parliament 20th June 2001 
  Coming into force 13th July 2001 

The Treasury, in exercise of the powers conferred on them by section 428(3) of, and paragraph 1 of Schedule 21 to, the Financial Services and Markets Act 2000[1] ("the Act"), hereby make the following Order:

     1. This Order may be cited as the Financial Services and Markets Act 2000 (Transitional Provisions) (Designated Date for The Securities and Futures Authority) Order 2001 and comes into force on 13th July 2001.

     2. For the purposes of paragraph 1(5) of Schedule 21 to the Act, 13th July 2001 is the designated date for The Securities and Futures Authority Limited.


Anne McGuire

Tony McNulty
Two of the Lords Commissioners of Her Majesty's Treasury

20th June 2001


EXPLANATORY NOTE

(This note is not part of the Order)


The Securities and Futures Authority Limited is a recognised self-regulating organisation under the Financial Services Act 1986 (c. 60). Schedule 21 to the Financial Services and Markets Act 2000 (c. 8) ("the Act") makes transitional provisions in relation to the provisions of the Financial Services Act 1986 which relate to the recognition and subsequent supervision of recognised self-regulating organisations, pending the repeal of that Act. Schedule 21 to the Act came into force on the passing of the Act but paragraph 1(3), which relates to the revocation of recognition orders under section 11 of the Financial Services Act 1986 and applications to the court for a compliance order under section 12 of that Act, apply from a date designated by the Treasury.

The Financial Services and Markets (Transitional Provisions) (Designated Date for Certain Self-Regulating Organisations) Order 2000 (S.I. 2000/1734) designated 25th July 2000 as the designated date for the Personal Investment Authority Limited and the Investment Management Regulatory Organisation Limited. This Order designates 13th July 2001 as the designated date for The Securities and Futures Authority Limited.

Notes:

 [1] 2000 c. 8.back


ISBN 0 11 029831 4


 © Crown copyright 2001

Prepared 14 August 2001

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URL: http://www.bailii.org/uk/legis/num_reg/2001/20012255.html