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Financial Services Act 2021

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Changes over time for: Cross Heading: Rules made before Part 1 of this Schedule comes into force

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Changes to legislation:

Financial Services Act 2021, Cross Heading: Rules made before Part 1 of this Schedule comes into force is up to date with all changes known to be in force on or before 12 June 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

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Changes and effects yet to be applied to Schedule 2 Part 3 Crossheading Rules-made-before-part-1-of-this-schedule-comes-into-force:

  • specified provision(s) amendment to earlier commencing S.I. 2021/671, reg. 5 by S.I. 2021/1163 reg. 2

Rules made before Part 1 of this Schedule comes into forceU.K.

19(1)The Financial Conduct Authority may identify general rules made under section 137A of the Financial Services and Markets Act 2000 before Part 1 of this Schedule comes into force and without complying with sections 143G and 143H of that Act (“pre-commencement rules”) that are to be Part 9C rules.U.K.

(2)Where the Financial Conduct Authority identifies such rules, it must, as soon as reasonably practicable after Part 1 of this Schedule comes into force, publish—

(a)a list of the pre-commencement rules that are to be Part 9C rules, and

(b)a statement confirming that, in deciding that those pre-commencement rules should be Part 9C rules, the Financial Conduct Authority has—

(i)considered the risks specified in or under section 143C(2) or 143D(2) and the matters specified in or under section 143G(1), and

(ii)considered, and consulted the Treasury about, the likely effect of the rules on relevant equivalence decisions (as defined in section 143G).

(3)Rules included in the list published in accordance with sub-paragraph (2)(a) are to be treated for all purposes as Part 9C rules.

Commencement Information

I1Sch. 2 para. 19 in force at 1.7.2021 by S.I. 2021/671, reg. 4(b)

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