The Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019

Made: 28th February 2019

Coming into force in accordance with regulation 1(2)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PART 1 — General provision

Citation and commencement

1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PART 2 — Amendment of the EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018

CHAPTER 1 — Persons other than those to whom regulation 8 or 11 applies

Transitional and saving provision: limited permission to carry on a regulated activity

2

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Transitional and saving provision: exemption from the general prohibition

3

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

CHAPTER 2 — Transitional provision: miscellaneous

Persons approved to perform controlled functions

4

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Financial Services Compensation Scheme

5

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Insurance

6

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

CHAPTER 3 — Power to amend time limits in Parts 6 and 7 of the EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018

Power to amend time limits

7

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PART 3 — Amendment of the Central Counterparties (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2018

Provision for a contractual run-off regime

8

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Miscellaneous amendment

9

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PART 4 — Amendments of Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018

Further transitional provisions relating to electronic money and payment services

10

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PART 5 — Amendment of the Trade Repositories (Amendment and Transitional Provision) (EU Exit) Regulations 2018

Temporary registration for run-off period

11

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Signed

Rebecca Harris — Jeremy Quin — Two of the Lords Commissioners of Her Majesty’s Treasury — 28th February 2019

Explanatory note

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Footnotes

[^f00001]: 2018 c. 16.

[^f00002]: S.I. 2018/1149.

[^f00003]: Part 4A is inserted by section 11(2) of the Financial Services Act 2012 (c. 21).

[^f00004]: Inserted by regulation 2.

[^f00005]: Inserted by regulation 3.

[^f00006]: Inserted by regulation 4.

[^f00007]: Inserted by regulation 5.

[^f00008]: Inserted by regulations 4 to 6.

[^f00009]: S.I. 2018/1184.

[^f00010]: S.I. 2018/1201.

[^f00011]: S.I. 2018/1318.

Editorial notes