The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (S.I. 2005/1529)26
1
The Financial Services and Markets Act 2000 (Financial Promotion) Order 200534 is amended as follows.
2
In article 2(1) (interpretation: general)—
a
omit the definitions of “the 1985 Act” and “the 1986 Order” and in their place insert ““the 2006 Act” means the Companies Act 2006”;
b
in the definition of “equity share capital”, for “the 1985 Act or in the 1986 Order” substitute “the 2006 Act (see section 548)”.
3
In article 3 (interpretation: unlisted companies)—
a
in paragraph (1)(c), for the words from “section 163(2)(b)” to the end substitute “section 693(3)(b) of the 2006 Act”;
b
in paragraph (3)—
i
in sub–paragraph (a), for “the 1985 Act” substitute “the 2006 Act (see section 1)” and at the end insert “(see sections 540(1) and (4) and 738)”;
ii
omit sub–paragraph (b).
4
In article 8A (interpretation: outgoing electronic commerce communications)—
a
in paragraph (2), for the words from “section 264(2)” to “1986 Order)” substitute “section 831(2) and (3) of the 2006 Act”;
b
in paragraph (3)(a), for the words from “section 163(2)(b) to “1986 Order)” substitute “section 693(3)(b) of the 2006 Act”.
5
In article 25(3) (relevant insurance activity: non–real time communications: reinsurance and large risks)—
a
for sub–paragraph (a) substitute—
a
the aggregate of the amounts shown as assets in the balance sheet of the business was 6.2 million euros;
b
in sub–paragraph (b) for the words from “section 262(1)” to “1986 Order” substitute “section 474(1) of the 2006 Act”;
c
in sub–paragraph (c) for the words from “section 247(6)” to “1986 Order” substitute “section 465(6) of the 2006 Act”.
6
In article 49 (high net worth companies, unincorporated associations etc)—
a
in paragraph (5), for “the 1985 Act or in the 1986 Order” substitute “the 2006 Act (see section 547)”;
b
in paragraph (7), for the words from “section 264” to the end substitute “section 831 of the 2006 Act”.
7
In article 59(1)(b) (annual accounts and directors’ report)—
a
for paragraph (i) substitute—
i
sections 415 and 419 of the 2006 Act; or
b
omit paragraph (ii);
c
in paragraph (iii) omit “or (ii)”.
8
In article 59(7)—
a
in sub–paragraph (a), for “Part VII of the 1985 Act” substitute “Part 15 of the 2006 Act”;
b
omit sub–paragraph (b);
c
in sub–paragraph (c), for “section 251 of the 1985 Act” substitute “section 426 of the 2006 Act”;
d
for sub–paragraph (d) substitute—
d
accounts produced in accordance with Chapter 3 of Part 5 of the Overseas Companies Regulations 200935 and filed with the registrar under section 441 of the 2006 Act as applied and modified by regulation 40 of those Regulations;
9
In Part 2 (accompanying material) of Schedule 4 (takeovers of relevant unlisted companies)—
a
in paragraph 14, for “the 1985 Act or the 1986 Order” substitute “the 2006 Act”;
b
in paragraph 16—
i
in sub–paragraph (c), omit the words from “and which” to the end;
ii
in sub–paragraph (d), omit the words from “and which” to the end;
c
in paragraph 28(2)—
i
in sub–paragraph (b)—
aa
for “Part VII of the 1985 Act” substitute “Part 15 of the 2006 Act”;
bb
for “section 249A or 249AA” substitute “section 477 or 480”;
cc
omit the words from “or been exempt” to the end;
ii
for the words from “Part VII” to the end substitute “Part 15 of the 2006 Act”;
d
in paragraph 34(a), for the words from “section 204” to “Order” substitute “section 824 of the 2006 Act”;
e
in paragraph 38, for “the 1985 Act or the 1986 Order” substitute “the 2006 Act”.
10
In Part 3 (additional material available for inspection) of Schedule 4—
a
in paragraph 43, for “the 1985 Act or the 1986 Order” substitute “the 2006 Act”;
b
in paragraph 44, for “the 1985 Act or the 1986 Order” substitute “the 2006 Act”;
c
in paragraph 45—
i
in sub–paragraph (b)—
aa
for “Part VII of the 1985 Act” substitute “Part 15 of the 2006 Act”;
bb
for “section 249A or 249AA” substitute “section 477 or 480”;
cc
omit the words from “or been exempt” to the end;
ii
for the words from “Part VII” to the end substitute “Part 15 of the 2006 Act”.