The Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) Regulations 2001

Citation, commencement and interpretation U.K.

1.—(1) These Regulations may be cited as the Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) Regulations 2001 and come into force on 1st December 2001.

(2) In these Regulations—

“the Act” means the Financial Services and Markets Act 2000;

“the parties” means the authorised person concerned and the transferee (within the meaning of section 105(2) or, as the case may be, section 106(2) of the Act);

[F1 “reclaim fund business transfer scheme” has the meaning given by section 106A(1) of the Act;]

“the report” means the scheme report mentioned in section 109(1) of the Act;

F2 ...

F2 ...

“a summary of the report” means a summary of the report sufficient to indicate the opinion of the person making the report of the likely effects of the insurance business transfer scheme on the policyholders of the parties.

Textual Amendments

F1 Words in reg. 1(2) inserted (13.7.2009) by The Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) (Amendment) Regulations 2009 (S.I. 2009/1390), regs. 1, 2(a)

F2 Words in reg. 1(2) omitted (31.12.2020) by virtue of The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 183(2) (with transitional provisions in S.I. 2019/710, regs. 1(4), 36, Sch. para. 3 and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

Commencement Information

I1 Reg. 1 in force at 1.12.2001, see reg. 1(1)