The Financial Guidance and Claims Act 2018 (Commencement No. 3 and Transitory Provisions (Modification)) Regulations 2018

• Citation: S.I. 2018/1029
• Sections: 6

Section 1 Citation

These Regulations may be cited as the Financial Guidance and Claims Act 2018 (Commencement No. 3 and Transitory Provisions (Modification)) Regulations 2018.

Section 2 Provisions coming into force on 1st October 2018

The day appointed for the coming into force of the following provisions of the Financial Guidance and Claims Act 2018 is 1st October 2018—

(a) section 1(1) to (5) and (7) (the single financial guidance body);

(b) section 2 (objectives);

(c) section 3(2) and (3) (functions);

(d) section 6 (debt respite scheme: advice to the Secretary of State);

(e) section 7 (debt respite scheme: regulations);

(f) section 8 (guidance and directions from the Secretary of State);

(g) section 9 (setting standards);

(h) section 11(2) (financial assistance from the Secretary of State);

(i) section 15 (false claims about provision of information etc );

(j) section 16 (offences under section 15 committed by bodies corporate etc);

(k) section 17(1) to (3), (6)(a), (7) and (8) (disclosure of information);

(l) section 23 (power to dissolve the single financial guidance body);

(m) section 24 (regulations dissolving the new single financial guidance body: procedure);

(n) section 26 (interpretation of Part 1);

(o) Schedule 1 (the single financial guidance body);

(p) Schedule 2 (transfer schemes under section 1); and

(q) the following provisions in Schedule 3 (minor and consequential amendments relating to Part 1) and section 25 (minor and consequential amendments) so far as it relates to them—

(i) paragraph 1;

(ii) paragraph 2;

(iii) paragraph 3;

(iv) paragraph 4;

(v) paragraph 6;

(vi) paragraph 11;

(vii) paragraph 13(c);

(viii) paragraph 14(2)(c) and (3)(c);

(ix) paragraph 21(2)(b), (3)(b), (5)(a)(ii) and (5)(b)(iv);

(x) paragraph 23;

(xi) paragraph 24;

(xii) paragraph 28; and

(xiii) paragraph 30(a) and (c).

Section 3 Provisions coming into force on 1st October 2018 for specified purposes

The day appointed for the coming into force of section 3(1), (4) to (7) and (9) of the Financial Guidance and Claims Act 2018 is 1st October 2018 for the following purposes—

(a) Section 3(1), (4) to (7) and (9) comes into force for the purposes of sections 3(2)(a) and (3), 8(1) and 17(1) to (3); and

(b) Section 3(1)(a) to (c) and (4) to (6) comes into force also for the purposes of section 9(1).

Section 4 Transitory modifications

The transitory modifications contained in the Schedule have effect.

Section 1

Until section 1(6) comes into force, paragraph 11 of Schedule 3 has effect as if the words “and the consumer financial education body (see section 3S(2))” were included after the words in brackets.

Section 2

Until section 10 comes into force, paragraphs 21(2)(b) and (3)(b) and 30(c) of Schedule 3 have effect as if the words “section 9(2)” were substituted for “sections 9(2) and 10”.