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The Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) Regulations 2001
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- UK Statutory Instruments
- 2001 No. 3625
- Regulation 5
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There are currently no known outstanding effects for the The Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) Regulations 2001, Section 5.
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[F1Transfer of a banking business or a reclaim fund business] U.K.
5.—(1) An applicant under section 107 of the Act for an order sanctioning a banking business transfer scheme [F2or reclaim fund business transfer scheme] (“the scheme”) must comply with the following requirements.
(2) A notice stating that the application has been made must be published—
(a)in the London, Edinburgh and Belfast Gazettes; and
(b)in two national newspapers in the United Kingdom.
(3) The notice mentioned in paragraph (2) must—
(a)be approved by [F3the appropriate regulator] prior to its publication; and
(b)contain the address from which the statement mentioned in paragraph (4) may be obtained.
(4) A statement setting out the terms of the scheme must be given free of charge to any person who requests it.
(5) Copies of the application and the statement mentioned in paragraph (4) must be given free of charge to [F4the appropriate regulator and, if the FCA is not the appropriate regulator, the FCA].
Textual Amendments
F1Reg. 5 heading substituted (13.7.2009) by The Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) (Amendment) Regulations 2009 (S.I. 2009/1390), regs. 1, 2(b)
F2Words in reg. 5(1) inserted (13.7.2009) by The Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) (Amendment) Regulations 2009 (S.I. 2009/1390), regs. 1, 2(c)
F3Words in reg. 5(3)(a) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 62(a) (with Sch. 2 para. 63)
F4Words in reg. 5(5) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 62(d) (with Sch. 2 para. 63)
Commencement Information
I1Reg. 5 in force at 1.12.2001, see reg. 1(1)
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