- Latest available (Revised)
- Point in Time (01/12/2001)
- Original (As made)
Point in time view as at 01/12/2001.
There are currently no known outstanding effects for the The Financial Services and Markets Act 2000 (Transitional Provisions) (Partly Completed Procedures) Order 2001, CHAPTER II.
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
66.—(1) Where a provision of this Chapter provides that the Authority may, if the expedited decision conditions are satisfied, give a person (“A”) a decision notice under a provision of the Act without having given A a warning notice, the expedited decision conditions referred to are that—
(a)the reasons stated in the decision notice given to A relate to or arise from the same failure, misconduct or other contravention which was the subject of the incomplete disciplinary proceedings to which A was subject immediately before commencement;
(b)A had, before commencement, been given a reasonable opportunity in the course of the incomplete disciplinary proceedings to make representations to the relevant SRO in respect of the failure, misconduct or other contravention which was the subject of the incomplete disciplinary proceedings; and
(c)the Authority has taken any representations so made by A into account in deciding whether to give A a decision notice and on the terms of that notice.
(2) The Financial Services and Markets Tribunal may take into account, in considering a decision notice referred to it, whether or not the expedited decision conditions were satisfied in relation to that decision notice; but a finding that they were not so satisfied does not affect the validity of the notice.
Commencement Information
I1Art. 66 in force at 1.12.2001, see art. 1(2)
67. Where, pursuant to a provision in this Chapter, the Authority gives a decision notice without having given a warning notice, that notice is to be treated for the purposes of section 133(6) as if it had been preceded by a warning notice stating that the Authority proposed to take the action referred to in the decision notice.
Commencement Information
I2Art. 67 in force at 1.12.2001, see art. 1(2)
68.—(1) This article applies where—
(a)the Authority proposes to publish a statement about a person (“P”) under section 205, pursuant to the power conferred on it by article 7 of the Civil Remedies Order;
(b)the reasons for which the Authority proposes to take action relate to or arise from the same failure, misconduct or other contravention which was the subject of incomplete disciplinary proceedings to which P was subject immediately before commencement;
(c)the relevant SRO in relation to those incomplete disciplinary proceedings would have had power to make a statement about P corresponding to the power of the Authority under section 205 at the conclusion of those proceedings;
(d)the expedited decision conditions are satisfied.
(2) In a case where this article applies, the Authority may give a decision notice under section 208(1)(a) without having given a warning notice.
Commencement Information
I3Art. 68 in force at 1.12.2001, see art. 1(2)
69.—(1) This article applies where—
(a)the Authority proposes to impose a penalty on a person (“P”) under section 206, pursuant to the power conferred on it by article 8 of the Civil Remedies Order;
(b)the reasons for which the Authority proposes to take action relate to or arise from the same failure, misconduct or other contravention which was the subject of incomplete disciplinary proceedings to which P was subject immediately before commencement;
(c)the relevant SRO in relation to those incomplete disciplinary proceedings would have had power to impose a penalty on P corresponding to the power of the Authority under section 206 at the conclusion of those proceedings;
(d)the expedited decision conditions are satisfied.
(2) In a case where this article applies, the Authority may give a decision notice under section 208(1)(b) without having given a warning notice.
Commencement Information
I4Art. 69 in force at 1.12.2001, see art. 1(2)
70.—(1) This article applies where—
(a)the Authority proposes to require a person (“P”) to make payments under section 384(5), pursuant to the power conferred on it by article 3 of the Civil Remedies Order;
(b)the reasons for which the Authority proposes to take action relate to or arise from the same failure, misconduct or other contravention which was the subject of the incomplete disciplinary proceedings to which P was subject immediately before commencement;
(c)the relevant SRO in relation to those incomplete disciplinary proceedings would have had power to order P to make payments corresponding to the power of the Authority under section 384(5) at the conclusion of those proceedings;
(d)the expedited decision conditions are satisfied.
(2) In a case where this article applies, the Authority may give a decision notice under section 386(1) without having given a warning notice.
Commencement Information
I5Art. 70 in force at 1.12.2001, see art. 1(2)
71.—(1) This article applies where—
(a)the Authority proposes to cancel a person’s Part IV permission under section 54;
(b)the reasons for which the Authority proposes to take action relate to or arise from the same failure, misconduct or other contravention which was the subject of the incomplete disciplinary proceedings to which P was subject immediately before commencement;
(c)the relevant SRO in relation to those incomplete disciplinary proceedings would have had power to expel P from membership at the conclusion of those proceedings;
(d)the expedited decision conditions are satisfied.
(2) In a case where this article applies, the Authority may give a decision notice under section 54(2) without having given a warning notice.
Commencement Information
I6Art. 71 in force at 1.12.2001, see art. 1(2)
72.—(1) This article applies where—
(a)the Authority proposes to exercise its powers to vary a person’s Part IV permission under section 53 or to impose a requirement under section 196;
(b)the reasons for which the Authority proposes to take action relate to or arise from the same failure, misconduct or other contravention which was the subject of incomplete disciplinary proceedings to which that person (“P”) was subject immediately before commencement;
(c)the relevant SRO in relation to those incomplete disciplinary proceedings would have had power—
(i)to suspend in whole or in part P’s entitlement to carry on investment business (within the meaning of the Financial Services Act);
(ii)to terminate part of P’s entitlement to carry on such business;
(iii)to impose conditions on P in respect of his carrying on such business.
(d)the conditions specified in paragraph (3) are satisfied.
(2) In a case where this article applies, the Authority may specify in a notice given under section 53(4) or section 197(3) that the variation has immediate effect.
(3) The conditions specified in this paragraph are that—
(a)P had, before commencement, been given a reasonable opportunity to make representations to the relevant SRO in respect of the failure, misconduct or other contravention which was the subject of the incomplete disciplinary proceedings; and
(b)the Authority has taken any representations so made by P into account in deciding whether to specify that the variation has immediate effect.
Commencement Information
I7Art. 72 in force at 1.12.2001, see art. 1(2)
73.—(1) This article applies where—
(a)the Authority proposes to publish a statement about a person (“RI”) under section 66(3)(b), pursuant to the power conferred on it by article 9 of the Civil Remedies Order;
(b)the reasons for which the Authority proposes to take action relate to or arise from the same failure, misconduct or other contravention which was the subject of the incomplete disciplinary proceedings to which RI was subject immediately before commencement;
(c)the relevant SRO in relation to those incomplete disciplinary proceedings would have had power to make a statement about RI corresponding to the power of the Authority under section 66(3)(b) at the conclusion of those proceedings;
(d)the expedited decision conditions are satisfied.
(2) In a case where this article applies, the Authority may give a decision notice under section 67(4) without having given a warning notice.
Commencement Information
I8Art. 73 in force at 1.12.2001, see art. 1(2)
74.—(1) This article applies where—
(a)the Authority proposes to impose a penalty on a person (“RI”) under section 66(3)(a), pursuant to the power conferred on it by article 9 of the Civil Remedies Order;
(b)the reasons for which the Authority proposes to take action relate to or arise from the same failure, misconduct or other contravention which was the subject of the incomplete disciplinary proceedings to which RI was subject immediately before commencement;
(c)the relevant SRO in relation to those incomplete disciplinary proceedings would have had power to impose a penalty on RI corresponding to the power of the Authority under section 66(3)(a) at the conclusion of those proceedings;
(d)the expedited decision conditions are satisfied.
(2) In a case where this article applies, the Authority may give a decision notice under section 67(4) without having given a warning notice.
Commencement Information
I9Art. 74 in force at 1.12.2001, see art. 1(2)
75.—(1) This article applies where—
(a)the Authority proposes to withdraw its approval from a person (“RI”) under section 63(1);
(b)the reasons for which the Authority proposes to take action relate to or arise from the same failure, misconduct or other contravention which was the subject of the incomplete disciplinary proceedings to which RI was subject immediately before commencement;
(c)the relevant SRO in relation to those incomplete disciplinary proceedings would have had power to remove the registered individual or person from its register corresponding to the power of the Authority under section 63(1) against RI at the conclusion of those proceedings;
(d)the expedited decision conditions are satisfied.
(2) In a case where this article applies, the Authority may give a decision notice under section 63(4) without having given a warning notice.
Commencement Information
I10Art. 75 in force at 1.12.2001, see art. 1(2)
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: