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There are currently no known outstanding effects for the The Bank of England and Financial Services Act 2016 (Commencement No. 6 and Transitional Provisions) Regulations 2019, Section 3.
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3.—(1) The amendments made by Schedule 4 to the Act so far as brought into force by regulation 2(4) do not apply in relation to an authorised person who, immediately before 9th December 2019—
(a)had temporary permission to carry on claims management activity, and
(b)did not have permission to carry on any other regulated activity,
until that person has full permission to carry on claims management activity or has permission to carry on any other regulated activity.
(2) The amendments made by paragraphs 11, 18 and 22(5) of Schedule 4 to the Act so far as brought into force by regulation 2(6) do not apply in relation to an authorised person who—
(a)immediately before 9th December 2019 had temporary permission to carry on claims management activity, and
(b)did not, immediately before [F131st March 2021], have permission to carry on any other regulated activity,
until that person has had full permission to carry on claims management activity for [F215 months and 22 days] or has permission to carry on any other regulated activity.
(3) Paragraph (2) does not apply to a person who, at any time on or after 9th December 2019 and before [F331st March 2021], had permission to carry on any regulated activity other than claims management activity.
(4) For the purposes of paragraphs (1) to (3), having permission to carry on a regulated activity other than claims management activity does not include having permission to carry on an activity of the kind specified by article 64 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001(1) so far as relevant to claims management activity.
(5) In this regulation—
“claims management activity” means an activity of a kind specified by any of articles 89G to 89M of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001(2);
“full permission” means permission given by the FCA under Part 4A of FSMA (permission to carry on regulated activities)(3);
“permission” has the same meaning as in FSMA (see section 20(1) of FSMA(4));
“temporary permission” means permission under article 80 of the Financial Services and Markets Act 2000 (Claims Management Activity) Order 2018(5).
Textual Amendments
F1Words in reg. 3(2)(b) substituted (1.9.2020) by The Bank of England and Financial Services Act 2016 (Commencement No. 6 and Transitional Provisions) (Amendment) Regulations 2020 (S.I. 2020/929), reg. 2(3)(a)(i)
F2Words in reg. 3(2) substituted (1.9.2020) by The Bank of England and Financial Services Act 2016 (Commencement No. 6 and Transitional Provisions) (Amendment) Regulations 2020 (S.I. 2020/929), reg. 2(3)(a)(ii)
F3Words in reg. 3(3) substituted (1.9.2020) by The Bank of England and Financial Services Act 2016 (Commencement No. 6 and Transitional Provisions) (Amendment) Regulations 2020 (S.I. 2020/929), reg. 2(3)(b)
Commencement Information
I1Reg. 3 in force at 17.7.2019
Article 64 was amended by S.I. 2013/1881, 2018/135, 2018/1253.
Articles 89G to 89M were inserted by S.I. 2018/1253.
Part 4A was inserted by section 11(2) of the Financial Services Act 2012.
Section 20(1) was amended by paragraph 2(2) of Schedule 9 to the Financial Services Act 2012.
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