Statutory Instruments
2004 No. 952
FINANCIAL SERVICES AND MARKETS
The Financial Services and Markets Act 2000 (Transitional Provisions, Repeals and Savings) (Financial Services Compensation Scheme) (Amendment) Order 2004
Made
29th March 2004
Laid before Parliament
30th March 2004
Coming into force
20th April 2004
The Treasury, in exercise of the powers conferred on them by sections 360 and 426 to 428 of the Financial Services and Markets Act 2000( 1 ), hereby makes the following Order:
Citation and commencement
1. This Order may be cited as the Financial Services and Markets Act 2000 (Transitional Provisions, Repeals and Savings) (Financial Services Compensation Scheme) (Amendment) Order 2004 and comes into force on 20th April 2004.
Amendment to the Financial Services and Markets Act 2000 (Transitional Provisions, Repeals and Savings) (Financial Services Compensation Scheme) Order 2001
2. —(1) Article 3(7) of the Financial Services and Markets Act 2000 (Transitional Provisions, Repeals and Savings) (Financial Services Compensation Scheme) Order 2001( 2 ) is amended as follows.
(2) After sub-paragraph (a) insert the following—
“ (aa) where, in relation to sub-paragraph (a)(ii), eligibility under an investment business compensation scheme would have been determined by reference to entitlement under the PPS, an application made to the scheme manager shall be deemed to have been entertainable under the investment business compensation scheme if it would have been so entertainable had the PPS applied in relation to a company in administration as it applied to a company in provisional liquidation; and ” .
Jim Murphy
John Heppell
Two of the Lord Commissioners of Her Majesty’s Treasury
29th March 2004
S.I. 2001/2967 , as amended S.I. 2003/2134 .