The Financial Services and Markets Act 2000 (Consequential Amendments) Order 2002

UK Statutory Instrument 2002 No. 1555 — creates 3 criminal offences.

3offences created

0recorded in force

3revoked

Made: 12 June 2002
In force from: 3 July 2002
Extent: Not stated
Subject: Corporate, financial services, company law, employment, charity, electoral and tax
Made under: FINANCIAL SERVICES AND MARKETS The Financial Services and Markets Act 2000, Financial Services and Markets Act 2000

Explanatory note

(This note is not part of the Regulations) — published with the instrument by the department that made it. © Crown copyright, reused under the Open Government Licence v3.0.

(This Note does not form part of the Order) This Order is supplementary to the Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649) (“the principal Order”) which came into force on 1st December 2001 at the same time as the coming into force of the Financial Services and Markets Act 2000 (c. 8) (“FSMA”). This Order corrects or adjusts amendments made in the principal Order, and makes additional amendments which are consequential upon the repeal by article 3 of the principal order of the legislation which established the regulatory regimes which have been replaced by FSMA. The first group of articles makes amendments to primary legislation, including Acts which apply to Northern Ireland. Article 4 makes an amendment to the Reserve and Auxiliary Forces (Protection of Civil Interests) Act 1951 (c. 65) which applies exclusively in relation to the Channel Islands. The second group amends secondary legislation, and includes an amendment by article 48 to the Financial Services and Markets Act 2000 (Consequential Amendments and Savings) (Industrial Assurance) Order 2001 (S.I. 2001/3647). That article amends in relation to the Channel Islands savings made by that Order of provisions of the Industrial Assurance Act 1923 (c. 8) and the Industrial Insurance and Friendly Societies Act 1948 (c. 39), both of which were repealed by section 416 of FSMA. The third group amends Northern Ireland legislation, and the fourth group amends Northern Ireland Statutory Rules.

Offences created by this instrument

An industrial assurance company, a collecting society or a friendly society which fails to comply with the provisions… article 4(2) · Revoked · Strict liability
In relation to the Channel Islands, section 39 of the 1923 Act (offences) has effect with the substitution for… article 48(3) · Revoked · Strict liability
In relation to the Channel Islands, section 16 of the 1948 Act (offences) has effect with the substitution for… article 48(3) · Revoked · Strict liability

What Parliament said about it

Hansard was searched for this instrument by name and returned nothing. That is the ordinary outcome: an instrument laid under the negative procedure is usually never debated, and becomes law without a word said about it in either House.

How Parliament handled it

Parliament's Statutory Instruments service records procedure from May 2017 onwards, and this instrument predates it. That is a limit of the source, not a statement that nothing happened.

Check the source

This instrument on legislation.gov.uk The authoritative text, including amendments made since
Other instruments from 2002