The Financial Services and Markets Act 2000 (Regulated Activities) (Transitional Provisions) Order 2015

• Citation: S.I. 2015/732
• Sections: 2

Section 1 Citation and commencement

This Order may be cited as the Financial Services and Markets Act 2000 (Regulated Activities) (Transitional Provisions) Order 2015 and comes into force on 6th April 2015.

Section 2 Transitional provisions

(1) A person who immediately before 6th April 2015 had permission under the Act to carry on an activity of the kind specified by article 53 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (advising on investments) in respect of a specified investment of the kind specified by article 82 of that Order (rights under a pension scheme), is to be treated as having that permission varied with effect from 6th April 2015 to include the activity of the kind specified by article 53E of that Order (advising on conversion or transfer of pension benefits).

(2) A Part 4A permission that is treated as having been varied in accordance with paragraph (1) is to be treated as being varied by—

(a) in the case of a PRA-authorised person , the PRA ; or

(b) in the case of any other authorised person, the FCA .

(3) Paragraph (1) does not affect the ability of the FCA or the PRA to vary or cancel a Part 4A permission under the Act.