- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
(This note is not part of the Order)
This Order makes provision consequential on the provisions of section 416 of the Financial Services and Markets Act 2000 (“the Act”) which repeal the Insurance Brokers (Registration) Act 1977 and dissolve the Insurance Brokers Registration Council (“the Council”). The relevant provisions of the Act were brought into force on 30th April 2001 by the Financial Services and Markets Act 2000 (Commencement No. 2) Order 2001 (S.I. 2001/1282 (C. 48)). The Grants Fund, comprising funds raised by levying practising insurance brokers and enrolled bodies, is transferred to the manager of the Investor Compensation Scheme established under section 54 of the Financial Services Act 1986. All other property, liabilities and rights to which the Council was entitled or subject immediately before 30th April 2001 transfer on 30th April 2001 to the Treasury. This Order also makes provision in respect of liabilities which the Council would have incurred if the Council had not been dissolved, legal proceedings to which the Council was, before 30th April 2001, a party and contracts, agreements and other instruments which relate to the property, rights and liabilities which, by virtue of this Order, become property, rights and liabilities of the Treasury.
This Order also makes consequential amendments to other legislation which relates to the Council or which refers to the Insurance Brokers (Registration) Act 1977. The Order also permits the Treasury to disclose information which they acquire by virtue of this Order where the disclosure could have been made by the Council, but for its dissolution and the provisions of the Order.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: