The Financial Services Act 2021 (Commencement No. 4) Regulations 2022

Made: 21st February 2022

The Treasury, in exercise of the powers conferred by section 49(5) of the Financial Services Act 2021[^f00001], make the following Regulations.

Citation

1

These Regulations may be cited as the Financial Services Act 2021 (Commencement No. 4) Regulations 2022.

Provisions of the Financial Services Act 2021 coming into force on 23rd February 2022

2

The following provisions of the Financial Services Act 2021 come into force on 23rd February 2022—

• (a) section 24 and Schedule 9 (Collective investment schemes authorised in approved countries);

• (b) section 25 (Individually recognised overseas collective investment schemes), except for section 25(4)(a); and

• (c) section 26 (Money market funds authorised in approved countries).

Provisions of the Financial Services Act 2021 coming into force on 1st January 2023

3

Section25(4)(a)oftheFinancialServicesAct2021comesintoforceon1stJanuary2023.

Signed

Amanda Solloway — Michael Tomlinson — Two of the Lords Commissioners of Her Majesty’s Treasury — 21st February 2022

Explanatory note

(This note is not part of the Regulations)

EXPLANATORY NOTE

Regulation 2 of these Regulations brings into force on 23rd February 2022 section 24 of, and Schedule 9 to, and sections 25 and 26 of the Financial Services Act 2021 (c. 22) (“the Act”), dealing with access to financial services markets, except for section 25(4)(a) of the Act. Regulation 3 of these Regulations brings into force on 1st January 2023 section 25(4)(a) of the Act which amends the Financial Services and Markets Act 2000 (c. 8). These Regulations are the fourth set of commencement regulations made under the Act. An impact assessment has not been published for these Regulations as they have no impact on the costs to business or the public or voluntary sectors independent of the provision these Regulations bring into force. A full impact assessment has been published in relation to the Act and copies can be obtained from HM Treasury, 1 Horse Guards Road, London, SW1A 2HQ or at https://publications.parliament.uk/pa/bills/cbill/58-01/0200/FS%20Bill%20Impact%20Assessment%20-%20October%202020%20-%20201020.pdf .

Footnotes

[^f00001]: 2021 c. 22.