Search Legislation

Advanced Search

The Financial Services Act 2012 (Transitional Provisions) (Miscellaneous Provisions) Order 2013

Help about what version

What Version

  • Latest available (Revised)
  • Original (As made)
Help about opening options

Opening Options

Status:

This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

Duty to report on completion of default proceedings

This section has no associated Explanatory Memorandum

66.—(1) Paragraph (2) applies if, before the commencement date—

(a)the Authority gave notice to a recognised overseas clearing house under section 162(1A)(1) of the Companies Act 1989 (duty to report on completion of default proceedings); and

(b)a report in respect of a proceeding was not provided to the Authority in accordance with section 162(1) of that Act.

(2) The report is to be provided to the Bank of England.

(3) Paragraph (4) applies if, before the commencement date—

(a)a recognised clearing house was under an obligation to report on a proceeding to the Authority in accordance with section 162 of the Companies Act 1989, and

(b)the recognised clearing house did not report to the Authority on the proceeding.

(4) The recognised clearing house must report to the Bank of England on the proceeding.

(5) Paragraph (6) applies if, before the commencement date, the Authority—

(a)received a report from a recognised clearing house in accordance with section 162 of the Companies Act 1989; and

(b)had not published notice of that fact in accordance with subsection (4) of that section.

(6) The Bank of England must publish notice of that fact in accordance with that subsection (4).

(1)

Section 162 was amended by S.I. 1991/880 and 2001/3649, and is further amended by the 2012 Act, Schedule 18, Part 2, paragraph 66.

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

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.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Memorandum

Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

Impact Assessments

Impact Assessments generally accompany all UK Government interventions of a regulatory nature that affect the private sector, civil society organisations and public services. They apply regardless of whether the regulation originates from a domestic or international source and can accompany primary (Acts etc) and secondary legislation (SIs). An Impact Assessment allows those with an interest in the policy area to understand:

  • Why the government is proposing to intervene;
  • The main options the government is considering, and which one is preferred;
  • How and to what extent new policies may impact on them; and,
  • The estimated costs and benefits of proposed measures.
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as made version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources