Explanatory Notes

Financial Services and Markets Act 2000

2000 CHAPTER 8

14 June 2000

Commentary on Sections

Schedule 17: the Ombudsman Scheme

Paragraph 18: Terms of reference to the scheme

859.This provides that the scheme operator has power to set terms of reference for its voluntary jurisdiction dealing with matters for which rules may be made under the compulsory jurisdiction.  The terms of reference must be approved by the Authority.