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

Application of certain provisions for purposes of Part 7

83.—(1) Section 169 of the Companies Act 1989 (Part 7: supplementary provisions) is amended as follows.

(2) In subsection (2) for the words from the beginning to “apply” substitute “Sections 296 and 297 of the Financial Services and Markets Act 2000 apply”.

(3) In subsection (3)—

(a) for “Financial Services Act 1986, the Secretary of State” substitute “Financial Services and Markets Act 2000, the appropriate authority”; and

(b) for “he” substitute “it”.

(4) After that subsection insert—

“(3A) “The appropriate authority” means—

(a) in the case of an overseas investment exchange or clearing house, the Treasury; and

(b) in the case of a UK investment exchange or clearing house, the Authority.”.

(5) In subsection (5)—

(a) for the words from the beginning to “applies” substitute “Regulations under section 414 of the Financial Services and Markets Act 2000 (service of notices) may make provision”; and

(b) for “Secretary of State” substitute “Treasury or the Authority”.