The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001

Authorisation of conveyancing practitioners

321.  For section 37(8)(1) of the Courts and Legal Services Act 1990 (authorisation of conveyancing practitioners) substitute—

“(8) Subsection (8A) applies if the applicant is—

(a) a person with permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits or to effect or carry out contracts of insurance; or

(b) an EEA firm of the kind mentioned in paragraph 5(b) or (d) of Schedule 3 to that Act which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12(1) of that Schedule) either—

(i) to accept deposits, or

(ii) to effect or carry out contracts of insurance.

(8A) The Board must have regard to the fact that the applicant has obtained that permission in determining whether it is satisfied as mentioned in subsection (1)(a).

(8B) Subsection (8) must be read with—

(a) section 22 of the Financial Services and Markets Act 2000;

(b) any relevant order under that section; and

(c) Schedule 2 to that Act.”.

(1)

Section 37(8) was amended by the Bank of England Act 1998 (c. 11), Schedule 5, paragraph 41(2).