The Financial Services Act 1986 (Listed Money Market Institutions and Miscellaneous Exemptions) Order 1990

• Citation: S.I. 1990/696
• Sections: 3

Section 1 Citation, commencement and interpretation

(1) This Order may be cited as the Financial Services Act 1986 (Listed Money Market Institutions and Miscellaneous Exemptions) Order 1990 and shall come into force on 31st March 1990.

(2) In this Order—

“ the Act ” means the Financial Services Act 1986;

“exempt transaction” means any transaction which is an exempt transaction for the purposes of the Banking Act 1987 (Exempt Transactions) Regulations 1988 by virtue of regulation 13 of those Regulations or would be an exempt transaction for those purposes but for section 5(3)(a) of the Banking Act 1987 ; and

“medium term note” means any debenture or other instrument falling within paragraph 2 of Schedule 1 to the Act which is a medium term note within the meaning of regulation 1(2) of the Banking Act 1987 (Exempt Transactions) Regulations 1988.

Section 2 Listed money market institutions

Section 43 of and Schedule 5 to the Act shall have effect as if medium term notes issued under the terms of an exempt transaction were included amongst the investments specified in paragraph 2(2) of Schedule 5 to the Act.

Section 3 Miscellaneous exemptions

(1) The following persons shall be exempted persons—

(a) The National Grid Company plc;

(b) Energy Pool Funds Administration Limited; and

(c) NGC Settlements Limited.

(2) The following persons shall be exempted persons to the extent specified below—

(a) any person exercising the functions of the High Court of Justice in Northern Ireland under articles 7 and 10 of the Enduring Powers of Attorney (Northern Ireland) Order 1987 when acting in exercise of those functions; and

(b) the Official Solicitor to the Supreme Court of Judicature of Northern Ireland when acting in his capacity as such.