PART 8Savings and transitional provision

Application and interpretation of regulations 35 to 37I138

1

The transitional provisions in regulations 35 to 37 apply from the beginning of 1 January 2022 and cease to have effect on 1 January 2023.

2

In regulations 35 to 37 and this regulation—

a

“FCA Handbook” means the Handbook made by the Financial Conduct Authority under the Financial Services and Markets Act 2000108;

b

“prudential regulation changes” means any one or more of the following—

i

changes made by sections 1 or 2 of, or Schedules 1 or 2 to, the Financial Services Act 2021109;

ii

provision made by the Treasury under section 45 of the Financial Services Act 2021 (power to make consequential provision);

iii

provision made by the Treasury under section 143B(2) of the Financial Services and Markets Act 2000 (other terms used in this Part)110;

iv

the deletion of the Prudential sourcebook for Investment Firms (IFPRU) or the creation of the Prudential sourcebook for MiFID Investment Firms (MIFIDPRU) in the FCA Handbook;

c

“securitisation” has the meaning given in Article 2(1) of Regulation (EU) 2017/2402.