Financial Services Act 1986 (Repealed)

Financial Services Act 1986

1986 CHAPTER 60

An Act to regulate the carrying on of investment business; to make related provision with respect to insurance business and business carried on by friendly societies; to make new provision with respect to the official listing of securities, offers of unlisted securities, takeover offers and insider dealing; to make provision as to the disclosure of information obtained under enactments relating to fair trading, banking, companies and insurance; to make provision for securing reciprocity with other countries in respect of facilities for the provision of financial services; and for connected purposes.

[7th November 1986]

Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—

Modifications etc. (not altering text)

C1 Act amended by S.I. 1988/496, art. 4

C2 Act amended by S.I. 1988/803, art. 5

C3 Act amended (25.4.1991) by Companies Act 1989 (c. 40, SIF 27), ss. 154, 155, 156(1); S.I. 1991/878, art. 2,Sch.

C4 Certain functions under this Act (transferable in accordance with para. 28 of Sch. 11 to the Act) transferred by S.R. 1987/228, arts. 2, 3

C5 Certain functions under this Act transferred by S.I. 1988/738, art. 3

C6 Certain functions under this Act transferred by S.I. 1987/942, arts. 3–8, Schs. 1, 2, 3

C7 Power to apply conferred (4.7.1995) by Companies Act 1989 (c. 40, SIF 27), ss. 154, 155, 170(4)(6), 171(5)(b), 181, 215(2); S.I. 1995/1591, art. 2

C8 Act: it is provided that in any enactment including this Act and an enactment contained in subordinate legislation within the meaning of the Interpretation Act 1978 (c. 30, SIF 115:1), references to the Official List of The Stock Exchange shall have effect as references to the Official List maintained by the new competent authority for the purposes of Pt. IV of the Act, (02. 10. 1991) by S.I. 1991/2000, reg. 4(5)

C9 Act except ss. 45, 180 and Sch. 6 amended (01. 01. 1992) by S.I. 1991/2684, arts. 2(1), 4, Sch. 1

Act applied (6.3.1992 with effect as mentioned in s. 289(1)(2) of the amending Act) by Taxation of Chargeable Gains Act 1992 (c. 12), s.102(3)(b) (with ss. 60, 101(1), 201(3)).

Act applied (6.4.1996) by 1993 c. 48, s. 148A (as inserted (6.4.1996) by 1995 c. 26, s. 173, Sch. 6 para. 9); S.I. 1996/778, art. 2(4), Sch. Pt. IV

Act extended (with modifications) (1.1.1996) by S.I. 1995/3275, reg. 56(1)

Act extended (6.1.1997) by S.I. 1996/2827, reg. 2(4)

Act modified (1.7.1994) by S.I. 1994/1696, art. 67

Act modified (1.7.1994) (temp.) by S.I. 1994/1696, art. 71

Act: functions of the Secretary of State transferred (7.6.1992) to the Treasury by S.I. 1992/1315, art. 2(1)(b) (subject to art. 6 of that S.I.).

Act: certain functions transferred (5.1.1998) by S.I. 1997/2781, arts. 2(2)(3) (with art. 7)

Act: Power to Treasury to contract out certain functions (18.11.1998) by S.I. 1998/2842, art. 2, Sch. Pt. II para. 64(b) (with Sch. Pt. II para.64(a))

Commencement Information

I1 Act partly in force at Royal Assent see s.211(1)(2); s. 212(3) and Sch. 17 in force for specified purposes at 19.6.1995 by S.I. 1995/1538, art. 2.