http://www.legislation.gov.uk/id/uksi/2001/3649

http://www.legislation.gov.uk/uksi/2001/3649/article/389/made

The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001

Capital and financial markets

Occupational pensions

Business practice and regulation

Legislation

Insurance

King's Printer of Acts of Parliament

2019-07-09

FINANCIAL SERVICES AND MARKETS

This Order sets out the amendments to primary and secondary legislation consequential on the coming into force of the Financial Services and Markets Act 2000 (c. 8) (“FSMA”). The large majority of the amendments are needed as a result of the principal repeals and revocations made by article 3. All references in other legislation to the enactments repealed here, or to expressions used in those enactments, have been amended in the subsequent provisions of the Order so that they refer to the appropriate provision or expression under FSMA.

The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001

reg. 598

The Local Government (Early Termination of Employment) (Discretionary Compensation) (England and Wales) Regulations 2006

reg. 11(1)(b)

reg. 11(5)

Sch. 2

reg. 1(2)

The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001

reg. 574-578

The Local Government Pension Scheme (Management and Investment of Funds) Regulations 2009

Sch. 2

reg. 1(1)

PART 9AMENDMENTS TO SECONDARY LEGISLATION

The Social Security (Payments on Account, Overpayments and Recovery) Regulations 1988 (S.I. 1988/664)

Conversion of payments by an authorised institution389

In regulation 10 of the Social Security (Payments on account, Overpayments and Recovery) Regulations 1988 (Conversion of payments made in a foreign currency)283—

a

the existing text is numbered paragraph (1);

b

in paragraph (1) for “any institution which is authorised under the Banking Act 1987” substitute “any authorised deposit-taker”;

c

after paragraph (1) insert—

2
In this regulation “authorised deposit-taker” means—
a
a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits; or
b
an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to that Act which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12(1) of that Schedule) to accept deposits.
3
Paragraph (2) must be read with—
a
section 22 of the Financial Services and Markets Act 2000;
b
any relevant order under that section; and
c
Schedule 2 to that Act.