The Financial Services Act 1986 (Delegation) (No. 2) Order 1991

• Citation: S.I. 1991/1256
• Sections: 3

Section 1 Citation and commencement

This Order may be cited as the Financial Services Act 1986(Delegation) (No. 2) Order 1991 and shall come into force on the dayafter the day on which it is made.

Section 2 Interpretation

In this Order—

“ the Act ” means the Financial Services Act 1986; and

“designated agency” means the body known as The Securities and Investments Board.

Section 3 Transfer of functions

The functions of the Secretary of State mentioned in article 3(3)(a)of the Financial Services Act 1986 (Delegation) (No. 2) Order 1988 are transferred to the designated agency insofar asthose functions confer the power to make regulations under section 81 ofthe Act with respect to the matters specified in the said article3(3)(a) in relation to schemes belonging to any category specified inregulation 2.07 of the copy of the regulations furnished by thedesignated agency to the Secretary of State under section 114(9) of theAct as being the regulations which the designated agency proposes tomake in exercise of the functions transferred to it by this Order.