The Transfer of Tribunal Functions Order 2010

Northern Rock plc Compensation Scheme Order 2008

158.  In the Schedule to the Northern Rock plc Compensation Scheme Order 2008(1) (the Northern Rock plc compensation scheme)—

(a) in paragraph 2 (interpretation) omit the definition of “the Tribunal”;

(b) in paragraph 13 and the heading (right to refer to the Tribunal) for “Tribunal” substitute “Upper Tribunal”;

(c) in paragraph 14(2)(b) (payment of compensation) for “Tribunal” substitute “Upper Tribunal”;

(d) in the heading of Part 5 (references to the Tribunal) for “Tribunal” substitute “Upper Tribunal”;

(e) for paragraph 15 (application of the Financial Services and Markets Act 2000) substitute—

“Application of FSMA 2000

15.   The provisions of Part 9 (hearing and appeals) of FSMA 2000 shall apply in respect of any reference made under paragraph 13, subject to the modifications set out in this Part.”;

(f) for paragraph 16 substitute—

“16.   Part 9 of FSMA 2000 is modified as follows.”;

(g) omit paragraph 17;

(h) in paragraph 18—

(i) omit sub-paragraph (i);

(ii) in sub-paragraph (ii) for “(4)” in both places substitute “(5)”; and

(iii) for sub-paragraph (iii) substitute—

“(iii) omit subsection (6).”;

(i) in paragraph 19 after “sections” insert “133A and”; and

(j) omit paragraphs 20 to 28 and the preceding heading (modification of Financial Services and Markets Tribunal Rules 2001).

(1)

S.I. 2008/718.