The Financial Services and Markets Act 2000 (Consequential and Transitional Provisions) (Miscellaneous) (No. 2) Order 2001

Exemptions from restrictions on disclosure

7.  The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001(1) have effect until commencement as if—

(a) the reference in Part I of Schedule 1 to a recognised investment exchange included a reference to a recognised investment exchange within the meaning of the Financial Services Act;

(b) after the reference in that Part to the scheme manager and to its functions under Part XV of the Act, there were inserted the following entries—

“The Policyholders Protection Board	Its functions under the Policyholders Protection Act 1975(2)
The Deposit Protection Board	Its functions as such
The body administering a scheme under section 54 of the Financial Services Act 1986(3)	Its functions as such”;

(c) the reference in that Part to a body which was, immediately before the coming into force of section 19 of the Act, a recognised professional body within the meaning of the Financial Services Act included a reference to a recognised professional body, a self-regulating organisation and a self-regulating organisation for friendly societies, in each case, within the meaning of that Act;

(d) the reference in that Part to an auditor exercising functions conferred by or under the Act included a reference to a person approved under section 108 of the Financial Services Act(4) for the purposes of exercising any function;

(e) the reference in that Part to a person appointed to conduct an investigation under section 167 or section 168(3) or (5) of the Act included a reference to each of the following—

(i) an inspector appointed under section 94 or 177 of the Financial Services Act(5);

(ii) a person authorised to exercise powers under section 106 of that Act(6);

(iii) a person authorised to exercise powers under section 43A or 44 of the Insurance Companies Act(7);

(f) the reference in that Part to an auditor of an authorised person appointed under or as a result of an enactment included a reference to each of the following—

(i) an auditor of an authorised person, within the meaning of the Financial Services Act;

(ii) an auditor appointed under section 21 of the Insurance Companies Act(8);

(g) the reference in that Part to an actuary exercising functions conferred by or under the Act included a reference to an actuary exercising functions under the Insurance Companies Act;

(h) the reference in Part 4 of that Schedule and Schedule 2 to a recognised clearing house included a reference to a recognised clearing house within the meaning of the Financial Services Act.

(1)

S.I. 2001/1820.

(2)

1975 c. 75.

(3)

Amended by S.I. 1989/2405 (NI 19) and modified by S.I. 1992/3218 and S.I. 1995/3275.

(4)

Amended by S.I. 1996/2827.

(5)

Section 94 was amended by the Companies Act 1989 (c. 40), section 72 and repealed in part by Schedule 24 to that Act. Section 177 was amended by the Criminal Justice Act 1993 (c. 9), Schedule 5 and the Companies Act 1989, section 74.

(6)

Amended by the Companies Act 1989 (c. 40), section 73 and modified by S.I. 1992/3218, S.I. 1995/2049 and S.I. 1995/3275.

(7)

Section 43A was inserted by S.I. 1994/1696 and amended (except in relation to Scotland) by the Youth Justice and Criminal Evidence Act 1999 (c. 23), Schedule 3 and S.I. 1997/2781. Section 44 was amended by the Companies Act 1989 (c. 40), section 77; the Youth Justice and Criminal Evidence Act 1999, Schedule 3 (except in relation to Scotland); S.I. 1994/1696 and S.I. 1997/2781.

(8)

Amended by S.I. 1991/1997.