The Financial Services and Markets Act 2000 (Consequential Amendments and Savings) (Industrial Assurance) Order 2001

57.  Article 43 of that Order (offences by industrial assurance companies) has effect after commencement with the following modifications—

(a) for paragraph (1) substitute—

“(1) Subject to paragraph (1A), any contravention by an industrial assurance company of—

(a) any provision of this Order which has effect on and after 1st December 2001,

(b) any provision of Part VI of the Reserve and Auxiliary Forces (Protection of Civil Interests) Act 1951(1) (as applied to Northern Ireland before that date by any Order in Council under section 65 of that Act), or

(c) any regulation made under section 57 of that Act which was applied to Northern Ireland before that date by any Order in Council under section 65 of that Act,

is to be treated as if it were a contravention of a requirement imposed under the Financial Services and Markets Act 2000 (with the effect that Part XIV of that Act applies).”;

(b) after paragraph (1) insert—

“(1A) A contravention of the kind mentioned in paragraph (1) is not actionable under section 150 of the Financial Services and Markets Act 2000 (actions for damages).

(1B) Nothing in paragraph (1) prejudices the operation of section 16 of the Interpretation Act 1978 in relation to any legal proceedings in respect of, or any penalty which may be imposed in relation to, a contravention of any provision of this Act committed before 1st December 2001.”; and

(c) omit paragraphs (2) and (3).

(1)

1951 c. 65.