Official Listing of Securities (Change of Competent Authority) Regulations 2000

Interpretation

2.—(1) In these Regulations—

“the Act” means the Financial Services Act 1986(1);

“Part IV” means Part IV of the Act; and

“enactment” includes an enactment contained within subordinate legislation within the meaning of the Interpretation Act 1978(2).

(2) In these Regulations—

“the old competent authority” means The London Stock Exchange Limited(3) in its capacity as the competent authority for the purposes of Part IV; and

“the new competent authority” means the Financial Services Authority in its capacity as the competent authority for the purposes of Part IV as amended by these Regulations.

(3) In these Regulations—

“the transfer date” means the day on which these Regulations (other than regulation 8) come into force;

“the transferred functions”, in relation to the old competent authority, means the functions of the old competent authority under Part IV, together with all rights and obligations of the old competent authority arising out of the admission by it of investments to the Official List otherwise than in accordance with Part IV(4);

“the transferred functions”, in relation to the new competent authority, means the functions of the new competent authority under Part IV as amended by these Regulations, together with the rights and obligations transferred to the new competent authority by regulation 5;

and references to the exercise of the transferred functions include references to the exercise and enforcement of such rights and the discharge of such obligations.

(4) No reference in these Regulations to the Official List maintained for the purposes of Part IV by the old competent authority shall be construed as extending to the Daily Official List published by The London Stock Exchange Limited.

(1)

1986 c. 60; section 142 was amended, and section 157 repealed, by the Official Listing of Securities (Change of Competent Authority) Regulations 1991 (S.I. 1991/2000).

(2)

1978 c. 30.

(3)

Until 9 December 1995 The London Stock Exchange Limited was known as The International Stock Exchange of the United Kingdom and the Republic of Ireland Limited.

(4)

Section 142(9) of the Act preserves the power of the competent authority in respect of the investments to which section 142 (and therefore Part IV) does not apply, and such investments may be admitted to the Official List otherwise than in accordance with Part IV of the Act.