Source: http://www.legislation.gov.uk/ukpga/2012/21/schedule/6
Timestamp: 2017-04-30 21:24:30
Document Index: 102145933

Matched Legal Cases: ['art 7', 'art. 3', 'art. 3', 'art. 3', 'art. 3', 'art. 3', 'art. 3', 'art. 3', 'art. 3', 'art. 3', 'art. 3', 'art 4', 'art 4', 'art. 3', 'art. 3', 'art. 3', 'art. 3', 'art. 3', 'art 4', 'art 4', 'art. 3', 'art. 3', 'art. 3', 'art. 3']

Skip to main contentSkip to navigationlegislation.gov.ukThe National ArchivesHelpSite MapAccessibilityContact UsCymraegHomeAbout UsBrowse LegislationNew LegislationChanges To LegislationSearch LegislationSearch LegislationTitle: (or keywords in the title)Year:Number:Type:All Legislation (excluding draft)All Primary Legislation UK Public General Acts UK Local Acts Acts of the Scottish Parliament Acts of the National Assembly for Wales Measures of the National Assembly for Wales Church Measures Acts of the Northern Ireland Assembly Acts of the Old Scottish Parliament Acts of the English Parliament Acts of the Old Irish Parliament Acts of the Parliament of Great Britain Northern Ireland Orders in Council Measures of the Northern Ireland Assembly Acts of the Northern Ireland ParliamentAll Secondary Legislation UK Statutory Instruments Wales Statutory Instruments Scottish Statutory Instruments Northern Ireland Statutory Rules Church Instruments UK Ministerial Orders UK Statutory Rules and OrdersAll Draft Legislation UK Draft Statutory Instruments Scottish Draft Statutory Instruments Northern Ireland Draft Statutory RulesAll Impact Assessments UK Impact AssessmentsSearchAdvanced SearchFinancial Services Act 2012You are here:2012 c. 21SCHEDULE 6Table of ContentsContentExplanatory NotesMore ResourcesPrevious: ScheduleNext: SchedulePlain ViewPrint OptionsWhat VersionLatest available (Revised)Original (As enacted)Advanced FeaturesShow Geographical Extent(e.g. England, Wales, Scotland, Northern Ireland)Show Timeline of ChangesOpening OptionsOpen whole ActOpen Act without schedulesOpen Schedules onlyMore ResourcesOriginal Print PDFCorrection Slip - 07/06/2013View moreChanges to legislation:There are outstanding changes not yet made by the legislation.gov.uk editorial team to Financial Services Act 2012. Any changes that have already been made by the team appear in the content and are referenced with annotations.Changes to LegislationRevised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.Changes and effects yet to be applied to the whole Act associated Parts and Chapters:Changes and effectsThis section lists the changes and effects yet to be applied to the whole Act, associated Parts and Chapters where applicable. This includes any insertions of whole new Parts, Chapters or provisions yet to be inserted into this Act. These effects are included in this view as they may be (but won’t necessarily be) relevant to the specific provision that you are viewing.Act power to apply conferred (temp.) by 2014 c. 21 s. 79(4)Act power to apply conferred (temp.) by 2014 c. 21 s. 81(10)Whole provisions yet to be inserted into this Act (including any effects on those provisions):s. 117(2A) inserted by 2016 c. 14 Sch. 2 para. 66(3) Section 22SCHEDULE 6E+W+S+N.I.Control of business transfersThis schedule has no associated Explanatory Notes1Part 7 of FSMA 2000 is amended as follows.E+W+S+N.I.Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Commencement InformationI1Sch. 6 para. 1 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.2Before section 104 insert—E+W+S+N.I.“103AMeaning of “the appropriate regulator”(1)In this Part “the appropriate regulator” means—
(a)in relation to a scheme in respect of which the authorised person concerned is a PRA-authorised person, the PRA;
(2)In this Part, “the authorised person concerned”—
(a)in the case of an insurance business transfer scheme, is to be read in accordance with section 105(2);
(b)in the case of a banking business transfer scheme, is to be read in accordance with section 106(2);
(c)in the case of a reclaim fund business transfer scheme, means the reclaim fund to whose business the scheme relates.”
Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Commencement InformationI2Sch. 6 para. 2 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.3(1)Section 109 (scheme reports) is amended as follows.E+W+S+N.I.(2)For “Authority”, in each place, substitute “ appropriate regulator ”.(3)After subsection (3) insert—“(4)Where the appropriate regulator is the PRA, it must consult the FCA before—
(a)nominating or approving a person under subsection (2)(b), or
(b)approving a form under subsection (3).
(5)Subsection (6) applies where the appropriate regulator is the FCA and either—
(a)the transferee is a PRA-authorised person, or
(b)the authorised person concerned or the transferee has as a member of its immediate group a PRA-authorised person.
(6)The FCA must consult the PRA before—
(b)approving a form under subsection (3).”
Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Commencement InformationI3Sch. 6 para. 3 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.4(1)Section 110 (right to participate in proceedings) is amended as follows.E+W+S+N.I.(2)The existing provision becomes subsection (1).(3)For paragraph (a) of that subsection substitute—“(a)the FCA,
(aa)in the case of a scheme falling within subsection (2), the PRA, and”.
(4)After that subsection insert—“(2)A scheme falls within this subsection if—
(a)the authorised person concerned or the transferee is a PRA-authorised person, or
(b)the authorised person concerned or the transferee has as a member of its immediate group a PRA-authorised person.”
Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Commencement InformationI4Sch. 6 para. 4 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.5In section 112 (effect of order sanctioning business transfer scheme), in subsections (10) and (11), for “Authority” substitute “ appropriate regulator ”.E+W+S+N.I.Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Commencement InformationI5Sch. 6 para. 5 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.6After section 112 insert—E+W+S+N.I.“112ZADuty of regulator to provide copy of order(1)Where the PRA receives under section 112(10) a copy of an order it must, without delay, give a copy of it to the FCA.
(2)Where the FCA receives under section 112(10) a copy of an order it must, without delay, give a copy of it to the PRA if the order relates to a scheme in respect of which—
Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Commencement InformationI6Sch. 6 para. 6 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.7(1)Section 113 (appointment of actuary) is amended as follows.E+W+S+N.I.(2)In subsection (2)—(a)for “the Authority”, in the first place, substitute “ either regulator ”, and(b)for “Authority”, in the second place, substitute “ regulator which made the application ”.(3)After that subsection insert—“(3)An application under subsection (2) may be made by the PRA only if—
Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Commencement InformationI7Sch. 6 para. 7 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.8In section 115 (certificates for purposes of insurance business transfers overseas), for “Authority” substitute “ appropriate regulator ”.E+W+S+N.I.Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Commencement InformationI8Sch. 6 para. 8 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.9Schedule 12 to FSMA (transfer schemes: certificates) is amended as follows.E+W+S+N.I.Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Commencement InformationI9Sch. 6 para. 9 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.10In paragraph 1, for “the Authority”, in each place, substitute “ the appropriate regulator ”.E+W+S+N.I.Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Commencement InformationI10Sch. 6 para. 10 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.11(1)Paragraph 2 is amended as follows.E+W+S+N.I.(2)In the following places, for “Authority” substitute “ appropriate regulator ”(a)sub-paragraph (1)(b);(b)in the first place in sub-paragraph (3).(3)In sub-paragraph (3), after “transferred” insert “ certification ”.(4)In sub-paragraph (6)(c), for “, the Authority” substitute “— (i)the PRA, if the transferee is a PRA-authorised person with a Part 4A permission or with permission under Schedule 4;
(ii)the FCA, if the transferee is a person with a Part 4A permission or with permission under Schedule 4 but is not a PRA-authorised person.”
Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Commencement InformationI11Sch. 6 para. 11 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.12In paragraph 3, for “Authority” substitute “ appropriate regulator ”.E+W+S+N.I.Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Commencement InformationI12Sch. 6 para. 12 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.13In paragraph 4, for “Authority”, in the first place, substitute “ appropriate regulator ”.E+W+S+N.I.Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Commencement InformationI13Sch. 6 para. 13 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.14In paragraph 5, for “Authority”, in the first place, substitute “ appropriate regulator ”.E+W+S+N.I.Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Commencement InformationI14Sch. 6 para. 14 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.15In paragraph 5A, for “the Authority” substitute “ the appropriate regulator ”.E+W+S+N.I.Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Commencement InformationI15Sch. 6 para. 15 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.16In paragraph 8(2)—E+W+S+N.I.(a)for paragraph (a) substitute—“(a)if the transferee is a PRA-authorised person with a Part 4A permission or with permission under Schedule 4, the PRA;
(aa)if the transferee is a person with Part 4A permission or with permission under Schedule 4 but is not a PRA-authorised person, the FCA;”, and
(b)in paragraph (c), after “(a)” insert “ , (aa) ”.Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Commencement InformationI16Sch. 6 para. 16 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.17In paragraph 9, for “Authority” substitute “ appropriate regulator ”.E+W+S+N.I.Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Commencement InformationI17Sch. 6 para. 17 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.18(1)Paragraph 9A is amended as follows.E+W+S+N.I.(2)The existing provision becomes sub-paragraph (1).(3)In that sub-paragraph, for “Authority” substitute “ relevant regulator ”.(4)After that sub-paragraph insert—“(2)In this paragraph the “relevant regulator” means—
(a)if the transferee is a PRA-authorised person, the PRA;
Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Commencement InformationI18Sch. 6 para. 18 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.19(1)Paragraph 10 is amended as follows.E+W+S+N.I.(2)In sub-paragraph (2), for “Authority” substitute “ FCA or the PRA ”.(3)In sub-paragraph (5), for “Authority” substitute “ regulator which supervises the transferee's margin of solvency ”.(4)In sub-paragraph (6), for “Authority” substitute “ FCA or the PRA ”.Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. 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