Financial Services Act 1986 (repealed)

Contents

3,766 provisions, too many to show on one page. Open a part or section to read it with its history and connections, or search inside the text.

1. Part I · Regulation of Investment Business
   1. Chapter I Preliminary
   2. Chapter II Restriction on Carrying on Business
   3. Chapter III Authorised Persons
   4. Chapter IV Exempted Persons
   5. Chapter V Conduct of Investment Business
   6. Chapter VI Powers of Intervention
   7. Chapter VII Winding up and Administration Orders
   8. Chapter VIII Collective Investment Schemes
   9. Chapter IX The Tribunal
   10. Chapter X Information
   11. Chapter XI Auditors
   12. Chapter XII Fees
   13. Chapter XIII Transfer of Functions to Designated Agency
   14. Chapter XIV Prevention of Restrictive Practices
   15. Chapter XV Relations with other Regulatory Authorities
2. Part II · Insurance Business
   1. 129 Application of investment business provisions to regulated insurance companies.
   2. 130 Restriction on promotion of contracts of insurance.
   3. 131 Contracts made after contravention of s. 130.
   4. 132 Insurance contracts effected in contravention of s. 2 of Insurance Companies Act 1982.
   5. 133 Misleading statements as to insurance contracts.
   6. 134 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
   7. 135 Communication by auditor with Secretary of State.
   8. 136 Arrangements to avoid unfairness between separate insurance funds etc.
   9. 137 Regulations in respect of linked long term policies.
   10. 138 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
   11. 139 Industrial assurance.
3. Part III · Friendly Societies
   1. 140 Friendly societies.
   2. 141 Indemnity schemes.
4. Part IV · Official Listing of Securities
   1. 142 Official listing.
   2. 143 Applications for listing.
   3. 144 Admission to list.
   4. 145 Discontinuance and suspension of listing.
   5. 146 General duty of disclosure in listing particulars.
   6. 147 Supplementary listing particulars.
   7. 148 Exemptions for disclosure.
   8. 149 Registration of listing particulars.
   9. 150 Compensation for false or misleading particulars.
   10. 151 Exemption from liability to pay compensation.
   11. 152 Persons responsible for particulars.
   12. 153 Obligations of issuers of listed securities.
   13. 154 Advertisements etc. in connection with listing applications.
   14. 154A Application of Part IV to prospectuses.
   15. 155 Fees.
   16. 156 Listing rules: general provisions.
   17. 156A Approval of prospectus where no application for listing.
   18. 156B Publication of prospectus.
   19. 157 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5. Part V
   1. 158 Preliminary.
   2. 159 Offers of securities on admission to approved exchange.
   3. 160 Other offers of securities.
   4. 160A Exemptions.
   5. 161 Exceptions.
   6. 162 Form and content of prospectus.
   7. 163 General duty of disclosure in prospectus.
   8. 164 Supplementary prospectus.
   9. 165 Exemptions from disclosure.
   10. 166 Compensation for false or misleading prospectus.
   11. 167 Exemption from liability to pay compensation.
   12. 168 Persons responsible for prospectus.
   13. 169 Terms and implementation of offer.
   14. 170 Advertisements by private companies and old public companies.
   15. 171 Contraventions.
6. Part VI · Takeover Offers
   1. 172 Takeover offers.
7. Part VII · Insider Dealing
   1. 173 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
   2. 174 . . . . . . . . . ....
   3. 175 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
   4. 176 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
   5. 177 Investigations into insider dealing.
   6. 178 Penalties for failure to co-operate with s. 177 investigations.
8. Part VIII · Restrictions on Disclosure of Information
   1. 179 Restrictions on disclosure of information.
   2. 180 Exceptions from restrictions on disclosure.
   3. 181 Directions restricting disclosure of information overseas.
   4. 182 Disclosure of information under enactments relating to fair trading, banking, insurance and companies.
9. Part IX · Reciprocity
   1. 183 Reciprocal facilities for financial business.
   2. 184 Investment and insurance business.
   3. 185 Banking business.
   4. 186 Variation and revocation of notices.
10. Part X · Miscellaneous and Supplementary
    1. 187 Exemption from liability for damages.
    2. 188 Jurisdiction of High Court and Court of Session.
    3. 189 Restriction of Rehabilitation of Offenders Act 1974.
    4. 190 Data protection.
    5. 191 Occupational pension schemes.
    6. 193 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    7. 194 Transfers to or from recognised clearing houses.
    8. 195 Offers of short-dated debentures.
    9. 196 Financial assistance for employees’ share schemes.
    10. 197 Disclosure of interests in shares: interest held by market maker.
    11. 198 Power to petition for winding up etc. on information obtained under Act.
    12. 199 Powers of entry.
    13. 200 False and misleading statements.
    14. 201 Prosecutions.
    15. 202 Offences by bodies corporate, partnerships and unincorporated associations.
    16. 203 Jurisdiction and procedure in respect of offences.
    17. 204 Service of notices.
    18. 205 General power to make regulations.
    19. 205A Supplementary provisions with respect to subordinate legislation.
    20. 206 Publication of information and advice.
    21. 207 Interpretation.
    22. 208 Gibraltar.
    23. 209 Northern Ireland.
    24. 210 Expenses and receipts.
    25. 211 Commencement and transitional provisions.
    26. 212 Short title, consequential amendments and repeals.
11. Schedule 1 · Investments and Investment Business
    1. Part I Investments
    2. Part II Activities Constituting Investment Business
    3. Part III Excluded Activities
    4. Part IV Additional Exclusions for Persons Without Permanent Place of Business in United Kingdom
    5. Part V Interpretation
12. Schedule 2 · Requirements for Recognition of Self-regulating Organisation
    1. Members to be fit and proper persons
    2. Admission, expulsion and discipline
    3. Safeguards for investors
    4. Taking account of costs of compliance
    5. Monitoring and enforcement
    6. The governing body
    7. Investigation of complaints
    8. Promotion and maintenance of standards
13. Schedule 3 · Requirements for recognition of professional body
    1. Statutory status
    2. Certification
    3. Safeguards for investors
    4. Taking account of costs of compliance
    5. Monitoring and enforcement
    6. Investigation of complaints
    7. Promotion and maintenance of standards
14. Schedule 4 · Requirements for Recognition of Investment Exchange
    1. Financial resources
    2. Safeguards for investors
    3. Monitoring and enforcement
    4. Investigation of complaints
    5. Promotion and maintenance of standards
    6. Supplementary
15. Schedule 5 · Listed Money Market Institutions
    1. Part I Transactions not Subject to Monetary Limit
    2. Part II Transactions Subject to Monetary Limit
    3. Part III Transactions arranged by Listed Institutions
16. Schedule 6 · The Financial Services Tribunal
    1. Term of office of members
    2. Expenses
    3. Staff
    4. Procedure
    5. Evidence
    6. Appeals and supervision by Council on Tribunals
    7. Parliamentary disqualification
17. Schedule 7 · Qualifications of Designated Agency
    1. Constitution
    2. Arrangements for discharge of functions
    3. Taking account of costs of compliance
    4. Monitoring and enforcement
    5. Investigation of complaints
    6. Promotion and maintenance of standards
    7. Records
18. Schedule 8 · Principles applicable to Designated Agency’s Legislative Provisions
    1. Introduction
    2. Standards
    3. Disclosure
    4. Protection
    5. Records
    6. Classes of investors
19. Schedule 9 · Designated Agencies: Status and Exercise of Transferred Functions
    1. Status
    2. Exemption from requirement of “limited" in name of designated agency
    3. The Tribunal
    4. Legislative functions
    5. Fees
    6. Consultation
    7. Exchange of information
20. Schedule 10 · Regulated Insurance Companies
    1. Preliminary
    2. Authorisations for investment business and insurance business
    3. Recognition of self-regulating organisation with insurance company members
    4. Modification of provisions as to conduct of investment business
    5. Restriction of provisions as to conduct of insurance business
    6. Exercise of powers of intervention etc.
    7. Withdrawal of insurance business authorisation
    8. Termination of investment business authorisation of insurer established in other member State
    9. Powers of Tribunal
    10. Consultation with designated agencies
21. Schedule 11 · Friendly Societies
    1. Part I Preliminary
    2. Part II Self-Regulating Organisations for Friendly Societies
    3. Part III Registrar’s Powers in Relation to Regulated Friendly Societies
    4. Part IV Transfer of Registrar’s Functions
    5. Part V Miscellaneous and Supplemental
22. Schedule 11A · Offers of securities to the public in the united kingdom
    1. (1) A person offers securities to the public in the United...
    2. (2) This paragraph applies in relation to an offer of securities...
    3. (3) (1) The following are the conditions specified in this sub-paragraph—...
    4. (4) (1) This paragraph applies in relation to an offer where...
23. Schedule 12 · Takeover Offers: Provisions Substituted for Sections 428, 429 and 430 of Companies Act 1985
24. Schedule 13 · Disclosure of Information
    1. (1) In section 133(2)(a) of the Fair Trading Act 1973 after...
    2. (2) In section 41(1)(a) of the Restrictive Trade Practices Act 1976...
    3. (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    4. (5) At the end of section 19(3) of the Competition Act...
    5. (6) For subsections (1) and (2) of section 47A of the...
    6. (7) After subsection (1) of section 437 of the Companies Act...
    7. (8) In section 446 of that Act— (a) in subsection (3)...
    8. (9) (1) In subsection (1) of section 449 of that Act—...
    9. (10) After section 451 of that Act there shall be inserted—...
    10. (11) After Article 430(1) of the Companies (Northern Ireland) Order 1986...
    11. (12) In Article 439 of that Order— (a) in paragraph (3)...
    12. (13) (1) In paragraph (1) of Article 442 of that Order—...
    13. (14) After Article 444 of that order there shall be inserted—...
25. Schedule 14 · Restriction of Rehabilitation of Offenders Act 1974
    1. Part I Exempted Proceedings
    2. Part II Exempted Questions
    3. Part III Exempted Actions
    4. Part IV Supplemental
26. Schedule 15 · Transitional Provisions
    1. Interim authorisation
    2. Return of fees on pending applications
    3. Deposits and undertakings
    4. Interim recognition of professional bodies
    5. Interim authorisation by recognised professional bodies
    6. Power of recognised professional body to make rules required by this Act.
    7. Notice of commencement of business
    8. Advertisements
    9. Authorised unit trust schemes
    10. Recognised collective investment schemes
    11. Delegation orders
    12. Disclosure of information
    13. Temporary exemptions for friendly societies
    14. Dealings in course of non-investment business
    15. Northern Ireland
27. Schedule 16 · Consequential Amendments
    1. (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    2. (2) In the Trustee Investments Act 1961— (a) in section 11(3)...
    3. (3) In section 32 of the Clergy Pensions Measure 1961 No....
    4. (4) In the Stock Transfer Act 1963— (a) for paragraph (e)...
    5. (5) In the Stock Transfer Act (Northern Ireland) 1963—
    6. (6) In section 25 of the Charities Act (Northern Ireland) 1964—...
    7. (7) In the Local Authorities’ Mutual Investment Trust Act 1968—
    8. (8) In the Local Government Act 1972— (a) in section 98(1)...
    9. (9) For subsection (1) of section 42 of the Local Government...
    10. (10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    11. (11) For paragraph 20 of Schedule 1 to the Scottish Development...
    12. (12) For paragraph 21 of Schedule 1 to the Welsh Development...
    13. (13) In section 3(5) of the Aircraft and Shipbuilding Industries Act...
    14. (14) In paragraph 10(1)(c) of Part II of Schedule 10 to...
    15. (15) For the definition of “securities” in section 3(6) of the...
    16. (16) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    17. (17) In section 163 of the Companies Act 1985—
    18. (18) In section 209(1)(c) of the Companies Act 1985 for the...
    19. (19) In section 265(4)(a) of the Companies Act 1985 for the...
    20. (20) In section 329(1) of the Companies Act 1985 for the...
    21. (21) For paragraphs (a) to (c) of section 446(4) of the...
    22. (22) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    23. (23) In Schedule 4 to the Companies Act 1985—
    24. (24) In Schedule 9 to the Companies Act 1985 in paragraphs...
    25. (25) In paragraph 11 of Schedule 13 to the Companies Act...
    26. (26) In Schedule 22 to the Companies Act 1985, in the...
    27. (27) In Schedule 24 to the Companies Act 1985—
    28. (28) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    29. (29) For paragraph (c) of section 10(1) of the Bankruptcy (Scotland)...
    30. (30) In section 101 of the Building Societies Act 1986—
    31. (31) In Article 107 of the Companies (Northern Ireland) Order 1986—...
    32. (32) In Article 173 of the Companies (Northern Ireland) Order 1986—...
    33. (33) In Article 217(1)(b) of the Companies (Northern Ireland) Order 1986...
    34. (34) In Article 273(4)(a) of the Companies (Northern Ireland) Order 1986...
    35. (35) In Article 337(1) of the Companies (Northern Ireland) Order 1986...
    36. (36) For sub-paragraphs (a) to (c) of Article 439(4) of the...
    37. (37) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
    38. (38) In Schedule 4 to the Companies (Northern Ireland) Order 1986—...
    39. (39) In Schedule 9 to the Companies (Northern Ireland) Order 1986,...
    40. (40) In paragraph 11 of Schedule 13 to the Companies (Northern...
    41. (41) In Schedule 21 to the Companies (Northern Ireland) Order 1986...
    42. (42) In Schedule 23 to the Companies (Northern Ireland) Order 1986...
    43. (43) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
28. Schedule 17 · Repeals and Revocations
    1. Part I Enactments
    2. Part II Instruments