BAILII is celebrating 24 years of free online access to the law! Would you
consider making a contribution?
No donation is too small. If every visitor before 31 December gives just £1, it
will have a significant impact on BAILII's ability to continue providing free
access to the law.
Thank you very much for your support!
[New search]
[Help]
STATUTORY INSTRUMENTS
2001 No. 3582
FINANCIAL SERVICES AND MARKETS
The Financial Services and Markets Act 2000 (Dissolution of the Board of Banking Supervision) (Transitional Provisions) Order 2001
| |
Made |
5th November 2001 | |
| |
Laid before Parliament |
5th November 2001 | |
| |
Coming into force |
26th November 2001 | |
The Treasury, in exercise of the powers conferred upon them by sections 426, 427 and 428(3) of the Financial Services and Markets Act 2000[1] ("the Act"), hereby make the following Order:
Citation and commencement
1.
This Order may be cited as the Financial Services and Markets Act 2000 (Dissolution of the Board of Banking Supervision) (Transitional Provisions) Order 2001 and comes into force on 26th November 2001.
Transitional provisions relating to the Board's final report
2.
- (1) As soon as practicable, and in any event before the day on which section 19 of the Act comes into force ("commencement day"), the Board of Banking Supervision[2] must prepare and submit to the Authority a report on its activities (or proposed activities) during the period from 1st April 2001 up to (but not including) the commencement day.
(2) The Authority must include the report submitted to it under paragraph (1) in the first report that it makes under paragraph 10 of Schedule 1 to the Act.
Tony McNulty
John Heppell
Two of the Lords Commissioners of Her Majesty's Treasury
5th November 2001
EXPLANATORY NOTE
(This note is not part of the Order)
This Order makes transitional provision in connection with the Financial Services and Markets Act 2000 ("the Act"). Article 2 requires the Board of Banking Supervision, which is to cease to exist by virtue of section 416(3)(d) of the Act, to prepare a final report on its activities as soon as practicable, and in any event before the day on which section 19 of the Act (the general prohibition) comes into force. The Financial Services Authority must include that report in the first report that it makes to the Treasury under Schedule 1 to the Act.
Notes:
[1]
2000 c. 8.back
[2]
Established by section 2 of the Banking Act 1987 (c. 22) as originally enacted and continued in existence by that section as amended by the Bank of England Act 1998 (c. 11), section 28.back
ISBN
0 11 038806 2
| © Crown copyright 2001 |
Prepared
21 November 2001
|
BAILII:
Copyright Policy |
Disclaimers |
Privacy Policy |
Feedback |
Donate to BAILII
URL: http://www.bailii.org/uk/legis/num_reg/2001/20013582.html
