The Financial Services and Markets Act 2000 (Transitional Provisions) (Authorised Persons etc. ) Order 2001

1. Introductory Text

2. PART I GENERAL

   1. 1. Citation and commencement

   2. 2. Definitions

3. PART II AUTHORISATION AND PERMISSION FOR PERSONS AUTHORISED ETC. UNDER OLD LAW

   1. CHAPTER I permissions under part iv of the act

      1. Persons authorised or exempted under the Financial Services Act

         1. 3. Authorisation under section 25 of the Financial Services Act

         2. 4. Authorisation under section 7 of the Financial Services Act

         3. 5. Persons certified by designated professional bodies

         4. 6. Listed institutions

         5. 7. Lloyd’s underwriting agents

         6. 8. Lloyd’s members' advisers

         7. 9. Appointed representatives

         8. 10. Investment business carried on overseas before commencement

      2. Persons authorised under the Banking Act

         1. 11. Persons authorised under the Banking Act

         2. 12. Banking business carried on overseas before commencement

         3. 13. Permission to carry on non-banking listed activities

      3. Insurance companies

         1. 14. Companies authorised under the Insurance Companies Act

         2. 15. EC companies carrying on reinsurance business

         3. 16. EC companies carrying on investment business

         4. 17. Insurance business carried on overseas before commencement

      4. Friendly societies etc.

         1. 18. Friendly societies authorised under the Friendly Societies Act

         2. 19. Friendly societies: other permissions

         3. 20. Societies registered under the Friendly Societies Act 1974

         4. 21. Insurance business carried on overseas by friendly societies before commencement

      5. Building societies

         1. 22. Building societies authorised under the Building Societies Act

         2. 23. Banking business carried on overseas by building societies before commencement

      6. Supplemental

         1. 24. Persons with more than one old authorisation etc.

   2. CHAPTER II authorisation and permission under schedule 3

      1. EEA firms with “passports” under the 2BCD or ISD Regulations

         1. 25. EEA firms with “passports” under the 2BCD or ISD Regulations

      2. EEA firms with “passports” under the Insurance Companies Act

         1. 26. EC companies carrying on direct insurance through UK branch

         2. 27. EC companies providing insurance in UK

   3. CHAPTER III authorisation, permission etc. under schedule 4

      1. Treaty firms authorised under section 31 of the Financial Services Act

         1. 28. Treaty firms authorised under section 31 of the Financial Services Act

         2. 29. Certificates under section 31(4) of the Financial Services Act

      2. Treaty firms which are insurance companies

         1. 30. EC companies carrying on reinsurance business through UK branch

         2. 31. EC companies carrying on investment business as Treaty firms

      3. Status for purposes of Part XIII of the Act

         1. 32. Status for purposes of Part XIII of the Act

   4. CHAPTER IV supplemental

      1. 33. Old transitional provision

4. PART III EFFECT OF RESTRICTIONS AND PROHIBITIONS IMPOSED UNDER OLD LAW

   1. Prohibitions and requirements under the Financial Services Act

      1. 34. Prohibitions and requirements under sections 65 to 68 of the Financial Services Act

      2. 35. Prohibitions and requirements imposed by recognised self-regulating organisations or recognised professional bodies

      3. 36. Supplemental provision relating to requirements under section 67 of the Financial Services Act etc.

      4. 37. Requirements imposed under the Financial Services Act by virtue of the 2BCD or ISD Regulations as a matter of urgency

   2. Restrictions and directions under the Banking Act

      1. 38. Restrictions under section 12 of the Banking Act

      2. 39. Directions under section 19 of the Banking Act

   3. Directions and requirements under the Insurance Companies Act

      1. 40. Directions under sections 11 and 12A of the Insurance Companies Act

      2. 41. Requirements under sections 38, 39, 40, 41, 43 and 45 of the Insurance Companies Act

      3. 42. Order of the court under section 40A of the Insurance Companies Act

      4. 43. Requirements imposed on former Lloyd’s underwriting members

      5. 44. Requirements and directions under Schedule 2F to the Insurance Companies Act

   4. Conditions and directions under the Friendly Societies Act

      1. 45. Conditions imposed under the Friendly Societies Act

      2. 46. Direction under section 40 of the Friendly Societies Act

      3. 47. Direction under section 51 of the Friendly Societies Act

      4. 48. Order of the court under section 52A of the Friendly Societies Act

      5. 49. Direction under section 53 of the Friendly Societies Act

   5. Conditions and directions under the Building Societies Act

      1. 50. Conditions and directions imposed under the Building Societies Act

      2. 51. Direction under section 43A of the Building Societies Act

   6. Prohibitions and restrictions under the 2BCD and ISD Regulations

      1. 52. Prohibitions and restrictions under regulations 9, 10 and 15 of the 2BCD Regulations and regulation 9 of the ISD Regulations

      2. 53. Prohibitions and restrictions under regulations 18 and 19 of the 2BCD Regulations and regulations 15 and 16 of the ISD Regulations

   7. Supplemental

      1. 54. Supplemental

5. PART IV SCOPE OF PERMISSION: PROCEDURE

   1. 55. Notice of scope of permission

   2. 56. Responding to the scope of permission notice

   3. 57. Scope of permission where person agrees with notice

   4. 58. Final view notices

   5. 59. Scope of permission following final view notice

   6. 60. Scope of permission where reference is made to the Tribunal

   7. 61. Information for public file of mutual society

   8. 62. Application of section 20

   9. 63. Requirement to reapply for Part IV permission

   10. 64. Requirement to reapply: procedure

6. PART V COLLECTIVE INVESTMENT SCHEMES

   1. CHAPTER 1 authorisation and recognition of schemes

      1. 65. Authorised unit trust schemes

      2. 66. Schemes constituted in other EEA States

      3. 67. Schemes authorised in designated countries or territories

      4. 68. Individually recognised overseas schemes

   2. CHAPTER II directions imposed on schemes

      1. 69. Directions imposed on authorised unit trust schemes

      2. 70. Directions imposed on schemes authorised in designated countries or territories

      3. 71. Directions imposed on individually recognised schemes

7. PART VI APPROVED PERSONS

   1. 72. General rule

   2. 73. Persons previously approved subject to conditions

   3. 74. Appointment approved but not taken up before commencement: section 60 of the Insurance Companies Act

   4. 75. Appointment approved but not taken up before commencement: section 61 of the Insurance Companies Act

   5. 76. Appointment of partner approved but not taken up before commencement

8. PART VII OTHER TRANSITIONAL STATUS AFTER COMMENCEMENT

   1. 77. UK firms with “passports” before commencement

   2. 78. Disqualification of auditors

   3. 79. Employment of prohibited persons: disqualification directions

   4. 80. International securities self-regulating organisations

9. Signature

10. Explanatory Note