Transitional Provisions and Schedules

Part

GEN General Provisions sourcebook

Chapter

Transitional Provisions and Schedules

Printed on: 06/11/2024

Rulebook at: 01/11/2009

Transitional Provisions and Schedules

GEN TP 1

Transitional provisions

GEN TP 1.1

Table: (1) Transitional Provisions applying across the Handbook

(1)

The purpose of these transitional provisions is to assist a smooth transition at commencement. They comprise various technical provisions that will apply across the whole Handbook and achieve results that most people would probably expect to apply in any event.

(2)

These transitional provisions consist of general transitional provisions, which apply at a high level of generality, and more specific transitional provisions in relation to record keeping and notification rules.

(3)

The more specific transitional provisions relating to record keeping and notification rules override the general transitional provisions. Both the general and the more specific transitional provisions do not apply if the context requires otherwise and are subject to any more specific transitional provision elsewhere in the Handbook relating to the matter.

(4)

Definitions for these transitional provisions, additional to those in the Glossary, are provided at paragraph 17 of the table.

GEN TP 1.2

Table 2: Transitional Provisions applying across the Handbook

(1)

(2) Material to which the transitional provision applies

(3)

(4) Transitional provision

(5) Transitional provision: dates in force

(6) Handbook provision: coming into force

Every rule in the Handbook, unless the context otherwise requires and subject to any more specific transitional provision relating to the matter

Acts under pre-commencement provisions
Anything done, or having effect as done, under or for the purposes of any pre-commencement provision has effect as if done under or for the purposes of any substantially similar provision in the Handbook.

From commencement of the relevant rule in the Handbook

See schedule of Transitional provisions of the relevant rule

[deleted]

As paragraph 1

Achieving compliance before commencement.
Anything done before commencement for the purposes of a provision in the Handbook has effect as if done under that provision.

As paragraph 1

Paragraph 3

For example, a firm may allocate responsibility for apportionment and oversight for the purposes of SYSC 2.1.3 R (Apportionment of responsibilities) before commencement, so as to be in compliance at commencement.

As paragraph 1

Series of events
If the application of any provision in the Handbook is dependent on the occurrence of a series of events, some of which occur before, and some of which occur after, commencement, the provision applies with respect to the events that occur after commencement.

As paragraph 1

[deleted]

As paragraph 1

Deemed references to pre-commencement provisions
Any reference (express or implied) in a provision in the Handbook to a provision of or made under the Act is to be read (so far as the context permits and according to the context) as being or including, in relation to times, circumstances and purposes before commencement, a reference to any substantially similar pre-commencement provision applicable to the firm.

As paragraph 1

Paragraph 7

For example, SUP 11.6.4 R requires certain firms to notify the FSA when a change in control, previously notified under SUP 11.4.2 R, has taken place. Such a firm must notify a change in control that takes place after commencement, even if previously notified under a pre-commencement provision rather than under SUP 11.4.2 R (and SUP 11.6.4 R is to be read as referring to that pre-commencement provision).
Another example is SUP 3.10.6R, which requires an auditor's report on client assets to be provided not more than 53 weeks after the period covered by the previous report on such matters. For the first report after commencement, the period runs from that covered by the report under any substantially similar pre-commencement provision (because of an implied reference to that provision).

As paragraph 1

Time starting before commencement
If, at commencement, time has begun to run for any purpose under any pre-commencement provision applicable to a firm, then:
(1) time will be regarded as having started to run, for the purposes of any substantially similar provision in the Handbook, when it started to run for that other purpose; and
(2) the firm will be relieved of its obligation to comply with the relevant pre-commencement provision if and to the extent that it complies with the substantially similar provision as extended by this transitional provision.

As paragraph 1

Paragraph 9

For example, a UK bank was required to submit Form LE2 within 10 business days after its quarter end by the FSA's Guide to Banking Supervisory Policy. If the quarter end fell five days before commencement, the UK bank must still submit the report within 10 business days, but in accordance with SUP 16.7.8 R (Financial reports: banks).

As paragraph 1

Every rule in the Handbook requiring a record to be made or retained (see schedule 1), unless the context otherwise requires and subject to any more specific transitional provision relating to the matter

Record keeping
A firm will not contravene a rule in the Handbook requiring a record to be made or retained to the extent that the firm:
(1) made a record of the matter before mortgage lender in accordance with the rule or with a substantially similar pre-commencement provision applicable to the firm; and
(2) retains that record as if the rule was in force when the record was made.

From commencement of the relevant rule in the Handbook

See schedule of Transitional provisions of the relevant rule

Paragraph 11

This transitional provision makes specific provision, in relation to record keeping, for the matters covered by paragraphs 1 and 3. It is included for clarity and overrides those general transitional provisions.

As paragraph 11

A firm must retain a record in accordance with a rule in the Handbook requiring a record of that sort to be retained, if the firm was required to make and retain that record before commencement under a substantially similar pre-commencement provision applicable to the firm.

As paragraph 11

Paragraph 13

This transitional provision makes specific provision, in relation to records, for the matters covered by paragraphs 7 and 9. It is included for clarity and overrides those general transitional provisions.

As paragraph 11

Every notification rule in the Handbook (see schedule 2), unless the context otherwise requires and subject to any more specific transitional provision relating to the matter

Notification
A firm (or its auditor or actuary appointed under SUP 4 (Actuaries)) will not contravene a notification rule in the Handbook to the extent that notice of the relevant matter was given to the firm's previous regulator before commencement in accordance with:
(1) the notification rule; or
(2) a substantially similar pre-commencement provision applicable to the firm.

From commencement of the relevant rule in the Handbook

See schedule of Transitional provisions of the relevant rule

Paragraph 15

This transitional provision makes specific provision, in relation to notifications, for the matters covered by paragraphs 1 and 3. It is included for clarity and overrides those general transitional provisions.

As paragraph 15

Paragraphs 1 to 16

Definitions
In these transitional provisions:
(1) "pre-commencement provision" means a provision repealed or revoked by or under the Act or a rule or guidance of the firm's previous regulator, including (where the context permits) any relevant provision which it replaced before commencement;

As paragraph 1

(2) "substantially similar" means substantially similar in purpose and effect; and

(3) a reference to a "provision" in the Handbook means every type of provision, including rules, guidance, provisions in codes, and so on.

Paragraphs 19 to 22

Application for provisions which are not rules
The purpose of paragraphs 19 to 22 is to ensure that the transitional provisions in paragraphs 1 to 10 apply throughout the Handbook.

As paragraphs 19 to 22

Statements of Principle unless the context otherwise requires and subject to any more specific transitional provision relating to the matter

The provisions in paragraphs 1 to 10 apply to every approved person as if the rules in those paragraphs were part of the Statements of Principle.

From commencement of the relevant Statement of Principle

See schedule of Transitional provisions for APER

Code of Practice for Approved Persons and Code of Market Conduct unless the context otherwise requires and subject to any more specific transitional provision relating to the matter

The provisions in paragraphs 1 to 10 apply to every approved person and every person to whom the Code of Market Conduct applies as if the rules in those paragraphs were part of the Code of Practice for Approved Persons and the Code of Market Conduct respectively.

From commencement of the relevant provision of the Code

See schedule of Transitional provisions for APER and MAR

Directions and requirements in the Handbook (that is, provisions with the status letter "D" in the margin or heading) unless the context otherwise requires and subject to any more specific transitional provision relating to the matter

The provisions in paragraphs 1 to 10 apply to every person to whom a direction or requirement in the Handbook applies as if the rules in those paragraphs were part of that direction or requirement.

From commencement of the relevant direction or requirement

See schedule of Transitional provisions of the relevant direction or requirement

Guidance (and other provisions with the status letter "G" in the margin or heading) in the Handbook unless the context otherwise requires and subject to any more specific transitional provision relating to the matter

The provisions in paragraphs 1 to 10 are also relevant to every person to whom any other guidance (or other provision with the status letter "G" in the margin or heading) in the Handbook is relevant as if the rules in those paragraphs were part of that guidance (or other provision).

From commencement of the relevant provision

See schedule of Transitional provisions of the relevant provision

Every rule in the Handbook made by the FSA

Expired

Paragraph 23 and guidance in the Handbook other than in: •COND; •APER; •FIT; •PROF; •MAR 1

Expired

References in the Handbook and Regulatory Guides (except those in LR, PR and DTR) to Companies Act 1985 and Companies (Northern Ireland) Order 1986 provisions which have been repealed, in whole or in part, by the Companies Act 2006.

Each reference is to be read as a reference to the corresponding provision of the Companies Act 2006 and related provisions taking into account any relevant commencement, consequential, transitional or savings provisions made under that Act or related provisions.

From 6 April 2008 until 1 November 2010

various

Paragraph 25

(1) The purpose of the transitional provision in paragraph 25 is to ensure the effectiveness of provisions which have been, or will be, repealed by the Companies Act 2006 until each cross reference or dependency in the Handbook is reviewed and updated as appropriate.

From 6 April 2008 until 1 November 2010

various

(2) The references to provisions which have been repealed, in whole or in part, are primarily to the Companies Act 1985, the Companies Act 1989 and the various Companies (Northern Ireland) Orders.

References in the Handbook and Regulatory Guides (except those in LR, PR and DTR) to the Companies Act 2006.

(1) This provision applies where any provision of the Companies Act 2006 re-enacts (with or without modification) an enactment repealed by that Act.

From 1 October 2009

various

(2) The repeal and re-enactment does not affect the continuity of the law.

(3) Anything done (including subordinate legislation made), or having effect as if done, under or for the purposes of the repealed provision that could have been done under or for the purposes of the corresponding provision of the Companies Act 2006, if in force or effective immediately before the commencement of that corresponding provision, has effect thereafter as if done under or for the purposes of that corresponding provision.

(4) Any reference (express or implied) in this Handbook to a provision of the Companies Act 2006 shall be construed (so far as the context permits) as including, as respects times, circumstances or purposes in relation to which the corresponding repealed provision had effect, a reference to that corresponding provision.

(5) References in this section to the Companies Act 2006 include subordinate legislation made under that Act.

(6) In this section "subordinate legislation" has the same meaning as in the Interpretation Act 1978.

Paragraph 27

The purpose of the transitional provision in paragraph 27 is to ensure continuity of law as regards the Companies Acts, so that things done under the provisions of the 1985 Act that are repealed and replaced by the 2006 Act will continue to be effective.

From 1 October 2009

various

GEN TP 1.3

(3) Transitional Provisions applying to GEN only

(1)

(2) Material to which the transitional provision applies

(3)

(4) Transitional provision

(5) Transitional provision: dates in force

(6) Handbook provision: coming into force

Expired

Expired

Expired

Expired

GEN 6.1 does not:
(1) apply to an unamended contract of insurance, first entered into on or before 24 July 2003; or
(2) prohibit a firm from claiming on, or making a payment under, a contract of insurance:
(a) in connection with a financial penalty imposed by the FSA pursuant to a warning notice issued before 25 July 2003; or
(b) first entered into between 25 July 2003 and 31 December 2003 in respect of a financial penalty imposed by the FSA by a final notice issued on or before 31 December 2003.
(For these purposes only, a contract of insurance will be regarded as unamended if:
(i) it was amended on or before 24 July 2003; or
(ii) it was amended after 24 July 2003, but the amendments did not affect the duration or scope of any indemnity against a financial penalty imposed by the FSA under the Act.)

From 1 January 2004

1 January 2004

GEN 4.3.1 R

Expired

GEN 4.3.1 R

Expired

FEES 3.2

FEES 3.2 applies to any application received after 1 October 2004 but not determined until after 1 February 2005.

From 1 February 2005

1 February 2005

GEN 5 Annex 1 G

A firm may continue to use a keyfacts logo which is not accompanied by a regulatory mark (®).

From 6 November 2006 to 6 November 2007

6 November 2006

GEN 4.3.1 R

(1) For the purpose of this rule, a regulated activity does not include a home purchase activity or home reversion activity.
(2) If a firm in a letter (or electronic equivalent) which it or its employees send to a customer, with a view to or in connection with the firm carrying out a home purchase activity or a reversion activity, makes a statement about its statutory or regulated status under the Act for carrying on that regulated activity, the firm must include the disclosure in GEN 4 Annex 1 in that letter.

From 6 April 2007 for six months

6 April 2007

GEN 4.5

(1) A firm is not required to comply with GEN 4.5.

(2) In relation to the regulated activity of accepting deposits, an incoming EEA firm may not rely on this transitional rule and must comply with GEN 4.5.

From 31 October 2008 to 30 September 2009.

31 October 2008.

GEN 4 Annex 1

(1) A firm may comply with GEN 4 Annex 1 as in force on 30 October 2008.

(2) In relation to the regulated activity of accepting deposits, an incoming EEA firm may not rely on this transitional rule and must comply with GEN 4.5.

From 31 October 2008 to 30 September 2009.

31 October 2008.

01/10/2009

GEN Sch 1

Record keeping requirements

01/12/2004

GEN Sch 1.1

There are no record keeping requirements in GEN.

01/12/2004

GEN Sch 2

Notification requirements

01/12/2004

GEN Sch 2.1

The aim of the guidance in the following table is to give the reader a quick overall view of the relevant requirements for notification and reporting.

It is not a complete statement of those requirements and should not be relied on as if it were.

01/12/2004

GEN Sch 2.2

Handbook reference

Matter to be notified

Contents of notification

Trigger event

Time allowed

GEN 1.3.2 R

An emergency which makes it impracticable for a firm to comply with a particular rule.

Notification of the emergency and of the steps the firm is taking and proposes to take to deal with its consequences

An emergency which makes it impracticable for a firm to comply with a particular rule.

Notification as soon as practicable

01/12/2004

GEN Sch 3

Fees and other required payments

01/12/2004

GEN Sch 3.1

There are no requirements for fees or other payments in GEN. FEES 2 (General Provisions) contains general provisions relating to the payment of fees.

01/01/2006

GEN Sch 4

Powers exercised

01/12/2004

GEN Sch 4.1

In this Schedule, references to GEN include the Glossary.

01/11/2009

GEN Sch 4.2

The following powers and related provisions in or under the Act have been exercised by the FSA to make the rules in GEN:

Section 59 (Approval for particular arrangements)

Section 72 (The competent authority)

Section 73A (Part 6 Rules)

Section 74 (The official list)

Section 75 (Applications for listing)

Section 77 (Discontinuance and suspension of listing)

Section 79 (Listing particulars and other documents)

Section 80 (General duty of disclosure in listing particulars)

Section 81 (Supplementary listing particulars)

Section 84 (Matters which may be dealt with by prospectus rules)

Section 85 (Prohibition of dealing etc in transferable securities without approved prospectus)

Section 87 (Election to have prospectus)

Section 87A (Criteria for approval of prospectus by competent authority)

Section 87G (Supplementary prospectus)

Section 87R (Register of investors)

Section 88 (Sponsors)

Section 89 (Public censure of sponsor)

Section 89A (Transparency rules)

Section 89B (Provision of voteholder information)

Section 89C (Provision of information by issuers of transferable securities)

Section 89D (Notification of voting rights held by issuer)

Section 89E (Notification of proposed amendment of issuer's constitution)

Section 89F (Transparency rules: interpretation etc)

Section 89G (Transparency rules: other supplementary provisions)

Section 89O (Corporate governance rules)

Section 96 (Obligations of issuers of listed securities)

Section 96A (Disclosure of information requirements)

Section 96C (Suspension of trading)

Section 99 (Fees)

Section 100 (Penalties)

Section 101 (Part 6 rules: general provisions)

Section 118(8) (Market abuse)

Section 136(2) (Funding of the legal assistance scheme)

Section 138 (General rule-making power)

Section 139 (Miscellaneous ancillary matters)

Section 140 (Restrictions on managers of certain collective investment schemes)

Section 141 (Insurance business rules)

Section 142(2) (Insurance business: regulations supplementing Authority's rules)

Section 144 (Price stabilising rules)

Section 145 (Financial promotion rules)

Section 146 (Money laundering rules)

Section 147 (Control of information rules)

Section 148(3) (Modification or waiver of rules)

Section 149 (Evidential provisions)

Section 150(2) (Actions for damages)

Section 156 (General supplementary powers)

Section 158A (Guidance on outsourcing by investment firms and credit institutions)

Section 178 (Obligation to notify the Authority: acquisitions of control)

Section 191D (Obligation to notify the Authority: dispositions of control)

Section 213 (The compensation scheme) (including as referred to in section 216(5) (Continuity of long-term insurance policies) and section 217(7) (Insurers in financial difficulties)

Section 214 (General)

Section 215 (Rights of the scheme in relevant person's insolvency)

Section 216 (Continuity of long-term insurance policies)

Section 217 (Insurers in financial difficulties)

Section 218(2)(b) (Annual report)

Section 223 (Management expenses)

Section 226 (Compulsory jurisdiction) (including as applied by regulation 125 of the Payment Services Regulations)

Section 226A(7) (Consumer credit jurisdiction)

Section 229 (Awards)

Section 234 (Industry funding)

Section 238(5) (Restrictions on promotion)

Section 239 (Single property schemes)

Section 242 (Applications for authorisation of unit trust schemes)

Section 247 (Trust scheme rules)

Section 248 (Scheme particulars rules)

Section 278 (Rules as to scheme particulars)

Section 283(1) (Facilities and information in UK)

Section 293 (Notification requirements)

Section 295 (Notification: overseas investment exchanges and overseas clearing houses)

Section 300B (Duty to notify proposal to make regulatory provision)

Section 322 (Rules applicable to former underwriting members)

Section 332(1) (Rules in relation to persons to whom the general prohibition does not apply)

Section 340 (Appointment)

Section 341 (Access to books etc)

Paragraph 17 (Fees) of Schedule 1 (The Financial Services Authority)

Paragraphs 19 (Establishment) and 20 (Services) of Schedule 3 (EEA Passport Rights)

Schedule 7 (The Authority as Competent Authority for Part VI)

Paragraphs 7(3) (Annual reports), 13 (Authority's procedural rules), 16B (Procedure for complaints etc) and 16D (Enforcement of money awards) of Schedule 17 (The Ombudsman Scheme)

Articles 9G (Obtaining information from certified persons etc) and 9H (Rules prohibiting the issue of electronic money at a discount) of the Regulated Activities Order

Regulation 6(1) (FSA rules) of the OEIC Regulations

Article 4(1) (Designation of pre-commencement provisions) of the Financial Services and Markets Act 2000 (Transitional Provisions and Savings) (Rules) Order 2001 (SI 2001/1534)

Article 15 (Record-keeping and reporting requirements relating to relevant complaints) of the Ombudsman Transitional Order

The Financial Services and Markets Act 2000 (Variation of Threshold Conditions) Order 2001 (SI 2001/2507)

Articles 4 (Pending applications), 6 (Post-commencement applications), 9 (Article 9 defaults occurring before commencement), 9A (Contributions in relation to mesothelioma claims), 10 (Applications in respect of compulsory liability insurance), 12 (Applications under the new scheme) and 23 (Record-keeping and reporting requirements relating to pre-commencement) of the compensation transitionals order

Articles 9 (Designation of existing provisions to take effect as rules) and 10 (Modifications of existing provisions) of the Financial Services and Markets Act 2000 (Consequential Amendments and Transitional Provisions) (Credit Unions) Order 2002 (SI 2002/1501)

Regulation 3 (Consumer contract requirements: modification of rule-making powers) of the Electronic Commerce Directive (Financial Services and Markets) Regulations 2002 (SI 2002/1775)

Regulation 2 (Power of the Authority to make rules under section 138 of the Financial Services and Markets Act 2000) of the Financial Services and Markets Act 2000 (Fourth Motor Insurance Directive) Regulations 2002 (SI 2002/2706)

Article 9 (Record-keeping and reporting requirements relating to relevant transitional complaints) of the Mortgage and General Insurance Complaints Transitional Order

06/10/2009

GEN Sch 4.3

The following additional powers have been exercised by the FSA to make the rules in GEN:

Regulation 2(3) (Application for permission) of the Capital Requirements Regulations 2006 (SI 2006/3221)

Regulation 82 (Reporting requirements) of the Payment Services Regulations

Regulation 92 (Costs of compliance) of the Payment Services Regulations

Articles 3 (Further power for Authority to make rules concerning mesothelioma claims) and 4 (Modification of FSMA in relation to FSA rules for mesothelioma claims) of the mesothelioma regulations

Regulations 8 (Applications for registration), 9 (Applications for admission to the register of issuers), 18 (Notification requirements), 20 (Material changes to the regulated covered bond), 24 (Requirements relating to the asset pool), 25 (Change of owner), 36 (financial penalties policy statement), 46 (Modifications of primary and secondary legislation) of, and paragraph 5 (fees) to the Schedule (Modifications to primary and secondary legislation) to, the RCB Regulations

06/10/2009

GEN Sch 4.4

The following powers and related provisions in the Act have been exercised by the FSA to issue the parts of the codes in GEN:

Section 64(2) (Conduct: statements and codes)

Section 119 (The code)

Section 120 (Provisions included in the Authority's code by reference to the City Code)

Section 121 (Codes: procedure)

06/10/2009

GEN Sch 4.5

The following powers and related provisions in the Act have been exercised by the FSA to issue the parts of the statements in GEN:

Section 64(1) (Conduct: statements and codes)

Section 69 (Statement of policy) (including as applied by paragraph 1 of Schedule 5 to the Payment Services Regulations)

Section 93 (Statement of policy)

Section 124 (Statement of policy)

Section 169(9) (Investigations etc in support of overseas regulator) (including as applied by paragraph 3 of Schedule 5 to the Payment Services Regulations)

Section 210 (Statements of policy) (including as applied by regulation 86(6) of the Payment Services Regulations)

Section 395 (The Authority's procedures) (including as applied by paragraph 7 of Schedule 5 to the Payment Services Regulations)

06/10/2009

GEN Sch 4.6

The following additional powers and related provisions have been exercised by the FSA to issue the parts of the statements in GEN:

Regulation 42 (Guidance) of the RCB Regulations

Regulation 44 (Warning notices and decision notices) of the RCB Regulations

Regulation 93 (Guidance) of the Payment Services Regulations

06/10/2009

GEN Sch 4.7

The following powers and related provisions in the Act have been exercised by the FSA in GEN to direct, require or specify:

Section 51 (Applications under this Part)

Section 60 (Applications for approval)

Section 148(3) (Modification or waiver of rules)

Section 182 (Notification)

Section 242 (Applications for authorisation of unit trust schemes)

Sections 250(4) and (5) (Modification or waiver of rules)

Section 270(6)(b) (Schemes authorised in designated countries or territories)

Section 274 (Applications for recognition of individual schemes)

Section 287 (Application by an investment exchange)

Section 288 (Application by a clearing house)

Section 294(2) (Modification or waiver of rules)

Section 316 (Direction by Authority)

Section 317 (The core provisions)

Section 318 (Exercise of powers through Council)

Paragraph 5(4) (Notice to Authority) of Schedule 4 (Treaty Rights)

Articles 9D (Applications for certificates) and 9F (Revocation of certificate on request) of the Regulated Activities Order

Regulations 7(3) and (4) (Modification or waiver of FSA rules) and 12 (Application for authorisation) of the OEIC Regulations

06/10/2009

GEN Sch 4.8

The following power in the Act has been exercised by the FSA to make the part of the complaints scheme in GEN:

Paragraph 7 (Arrangements for the investigation of complaints) of Schedule 1 (The Financial Services Authority)

06/10/2009

GEN Sch 4.9

The following powers in or under the Act have been exercised by the FSA to give the other guidance in GEN:

Section 157(1) (Guidance)

Section 158A (Guidance on outsourcing by investment firms and credit institutions)

Article 11(1) (Guidance) of the Financial Services and Markets Act 2000 (Transitional Provisions and Savings) (Rules) Order 2001 (SI 2001/1534)

Article 14 (Guidance on continued provisions) of the Financial Services and Markets Act 2000 (Consequential Amendments and Transitional Provisions) (Credit Unions) Order 2002 (SI 2002/1501)

06/10/2009

GEN Sch 4.10

The following additional powers have been exercised by the FSA to make the other guidance in GEN:

Regulation 93 (Guidance) of the Payment Services Regulations

06/10/2009

GEN Sch 5

Rights of action for damages

01/12/2004

GEN Sch 5.1

The table below sets out the rules in GEN contravention of which by an authorised person may be actionable under section 150 of the Act (Actions for damages) by a person who suffers loss as a result of the contravention.

01/12/2004

GEN Sch 5.2

If a 'Yes' appears in the column headed 'For private person?', the rule may be actionable by a 'private person' under section 150 (or, in certain circumstances, his fiduciary or representative; see article 6(2) and (3)(c) of the Financial Services and Markets Act 2000 (Rights of Action) Regulations 2001 (SI 2001/2256)). A 'Yes' in the column headed 'Removed' indicates that the FSA has removed the right of action under section 150(2) of the Act. If so, a reference to the rule in which it is removed is also given.

01/12/2004

GEN Sch 5.3

The column headed 'For other person?' indicates whether the rule may be actionable by a person other than a private person (or his fiduciary or representative) under article 6(2) and (3) of those Regulations. If so, an indication of the type of person by whom the rule may be actionable is given.

01/12/2004

GEN Sch 5.4

Chapter/Appendix

Section/Annex

Paragraph

Right of action under section 150

For private person?

Removed

For other person?

All rules in GEN with the status letter "E"

GEN 2.1.8 R

All other rules in GEN

Yes

01/12/2004

GEN Sch 6

Rules that can be waived

01/12/2004

GEN Sch 6.1

GEN 1.2.2 R (Referring to approval by the FSA) and the rules in GEN 4 (Statutory status disclosure) can be waived by the FSA under section 148 of the Act (Modification or waiver of rules).

GEN 2.1.8 R is made by FOS Ltd and not by the FSA and cannot be waived by the FSA.

Every other rule in GEN can be waived by the FSA if, and to the extent that, the rules elsewhere in the Handbook which it modifies or to which it otherwise relates can be waived by the FSA.

01/12/2004