Financial Services Act 1986 (Repealed) (Version in vigour from 2001-12-01 to )

Consolidated Text

As Enacted

Cited authorities 259

Cited in

Currency	Unapplied prospective
Coming into Force	01 December 2001

Contenidos

Financial Services Act 1986 (Repealed)
Part I: Regulation of Investment Business

1: Investments and investment business.

2: Power to extend or restrict scope of Act.

3: Persons entitled to carry on investment business.
4: Offences.

5: Agreements made by or through unauthorised persons.

6: Injunctions and restitution orders.

Members of recognised self-regulating organisations

7: Authorisation by membership of recognised self-regulating organisation.
8: Self-regulating organisations.
9: Applications for recognition.
10: Grant and refusal of recognition.
11: Revocation of recognition.
12: Compliance orders.
13: Alteration of rules for protection of investors.
14: Notification requirements.

Persons authorised by recognised professional bodies

15: Authorisation by certification by recognised professional body.
16: Professional bodies.
17: Applications for recognition.
18: Grant and refusal of recognition.
19: Revocation of recognition.
20: Compliance orders.
21: Notification requirements.

Insurance companies

22: Authorised insurers.: A body which is authorised under section 3 or 4 of the Insurance Companies Act 1982 to carry on insurance business which is investment business and carries on such insurance business in the United Kingdom is an authorised person as respects—

Friendly societies

23: Friendly societies.

Collective investment schemes

24: Operators and trustees of recognised schemes.: The operator or trustee of a scheme recognised under section 86 below is an authorised person as respects—

Investment companies with variable capital

24A: Investment companies with variable capital: An investment company with variable capital is an authorised person as respects—

Persons authorised by the Secretary of State

25: Authorisation by Secretary of State.
26: Applications for authorisation.
27: Grant and refusal of authorisation.
28: Withdrawal and suspension of authorisation.
29: Notice of proposed refusal, withdrawal or suspension.
30: Withdrawal of applications and authorisations by consent.

Persons authorised in other member States

31: Authorisation in other member State.
32: Notice of commencement of business.
33: Termination and suspension of authorisation.
34: Notice of proposed termination or suspension.

The Bank of England

35: The Bank of England.

Recognised investment exchanges and clearing houses

36: Investment exchanges.
37: Grant and revocation of recognition.
38: Clearing houses.
39: Grant and revocation of recognition.
40: Overseas investment exchanges and clearing houses.
41: Notification requirements.

Other exemptions

42: Lloyd’s.
43: Listed money market institutions.
44: Appointed representatives.
45: Miscellaneous exemptions.

Supplemental

46: Power to extend or restrict exemptions.

47: Misleading statements and practices.

47A: Statements of principle.

47B: Modification or waiver of statements of principle in particular cases.

48: Conduct of business rules.

49: Financial resources rules.

50: Modification of conduct of business and financial resources rules for particular cases.

51: Cancellation rules.

52: Notification regulations.

53: Indemnity rules.

54: Compensation fund.

55: Clients’ money.

56: Unsolicited calls.

57: Restrictions on advertising.

58: Exceptions from restrictions on advertising.

59: Employment of prohibited persons.

60: Public statement as to person’s misconduct.

61: Injunctions and restitution orders.

62: Actions for damages.

62A: Restriction of right of action.

63: Gaming contracts.

63A: Application of designated rules and regulations to members of self-regulating organisations.

63B: Modification or waiver of designated rules and regulations.

63C: Codes of practice.

64: Scope of powers.

65: Restriction of business.

66: Restriction on dealing with assets.

67: Vesting of assets in trustee.

68: Maintenance of assets in United Kingdom.

69: Rescission and variation.
70: Notices.

71: Breach of prohibition or requirement.

72: Winding up orders.

73: Winding up orders: Northern Ireland.

74: Administration orders.: A petition may be presented under section 9 of the Insolvency Act 1986 (applications for administration orders) in relation to a company to which section 8 of that Act applies , or under Article 22 of the Insolvency (Northern Ireland) Order 1989 (applications for administration orders) in relation to a company to which Article 21 of that Order applies, which is an authorised person, a person whose authorisation is suspended under section 28 above or who is the subject of a direction under section 33(1)(b) above or an appointed representative—

Preliminary

75: Interpretation.

Promotion of schemes

76: Restrictions on promotion.

Authorised unit trust schemes

77: Applications for authorisation.
78: Authorisation orders.
79: Revocation of authorisation.
80: Representations against refusal or revocation.
81: Constitution and management.
82: Alteration of schemes and changes of manager or trustee.
83: Restrictions on activities of manager.
84: Avoidance of exclusion clauses.
85: Publication of scheme particulars.

Recognition of overseas schemes

86: Schemes constituted in other member States.
87: Schemes authorised in designated countries or territories.
88: Other overseas schemes.
89: Refusal and revocation of recognition.
90: Facilities and information in the United Kingdom.

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Financial Services Act 1986 (Repealed) (Version in vigour from 2001-12-01 to )

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