Statutory Instruments
Exiting The European Union
Financial Services
Made
26th November 2020
Coming into force in accordance with regulations 1(2) to (4)
The Treasury are designated(1) for the purposes of section 2(2) of the European Communities Act 1972(2) in relation to financial services.
The Treasury, in exercise of the powers conferred by sections 2(2) of the European Communities Act 1972, section 8(1) of the European Union (Withdrawal) Act 2018(3) and section 349 of the Financial Services and Markets Act 2000(4), make the following Regulations.
A draft of these Regulations has been laid before and approved by a resolution of each House of Parliament, in accordance with paragraph 2(2) of Schedule 2 to the European Communities Act 1972, and paragraph 1(1) of Schedule 7 to the European Union (Withdrawal) Act 2018.
Modifications etc. (not altering text)
C1Regulations: power to modify conferred (11.7.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 3, 86(3), Sch. 1 Pt. 2; S.I. 2023/779, reg. 2(d)
1972 c. 68. The European Communities Act 1972 was repealed by section 1 of the European Union (Withdrawal) Act 2018 (c. 16) with effect from exit day, but saved with modifications until IP completion day by section 1A of that Act (as inserted by section 1 of the European Union (Withdrawal Agreement) Act 2020 (c. 1)). Section 2(2) of the European Communities Act 1972 was amended by section 27(1) of the Legislative and Regulatory Reform Act 2006 (c.51) and by section 3(3) of, and Part 1 of the Schedule to, the European Union (Amendment) Act 2008 (c. 7). Paragraph 1A of Schedule 2 was inserted by section 28 of the Legislative and Regulatory Reform Act 2006 and amended by Part 1 of the Schedule to the European Union (Amendment) Act 2008 and S.I. 2007/1388.
2018 c. 16, amended by section 27 of the European Union (Withdrawal Agreement) Act 2020 (c. 1).
2000 c. 8, amended by paragraph 19 of Schedule 12 to the Financial Services Act 2012 (c. 21). There are other amendments to section 349 which are not relevant to these Regulations.