1.—(1) These Regulations may be cited as the Financial Services and Markets Act 2023 (Commencement No. 6) Regulations 2024.
(2) These Regulations extend to England and Wales, Scotland and Northern Ireland.
2. The following provisions of the Financial Services and Markets Act 2023 come into force on 31st December 2024—
(a)section 1(1) (revocation of assimilated law relating to financial services and markets) so far as it relates to the instruments listed in paragraphs (b) to (d) and in the Schedule, and to the extent that those instruments are not already revoked;
(b)in Part 2 (subordinate legislation) of Schedule 1 (revocation of assimilated law relating to financial services), the revocation of—
(i)the Solvency 2 Regulations (S.I. 2015/575);
(ii)the Solvency 2 and Insurance (Amendment, etc.) (EU Exit) Regulations 2019 (S.I. 2019/407);
(c)in Part 3 (EU tertiary legislation etc) of Schedule 1, the revocation of the instruments listed in the Schedule to these Regulations(1);
(d)in Part 5 (other EU-derived legislation) of Schedule 1, the revocation of the Insurance and Reinsurance Undertakings (Prudential Requirements) (Risk Margin) Regulations 2023(2).
Amanda Milling
Mike Wood
Two of the Lords Commissioners of His Majesty's Treasury
HM Treasury
9th May 2024