Financial Services and Markets Act 2000 (Prescribed Markets and Qualifying Investments) Order 2001
| Jurisdiction | UK Non-devolved |
| Citation | SI 2001/996 |
| Year | 2001 |
2001 No. 996
FINANCIAL SERVICES AND MARKETS
The Financial Services and Markets Act 2000 (Prescribed Markets and Qualifying Investments) Order 2001
Made 15th March 2001
Laid before Parliament 15th March 2001
Coming into force in accordance with article 2
The Treasury, in exercise of the powers conferred upon them by section 118(3) of the Financial Services and Markets Act 20001, hereby make the following Order:
Citation
1. This Order may be cited as the Financial Services and Markets Act 2000 (Prescribed Markets and Qualifying Investments) Order 2001.
Commencement
2. This Order comes into force on the day on which section 123 of the Act (power to impose penalties in cases of market abuse) comes into force.
Interpretation
3. In this Order—
“the Act” means the Financial Services and Markets Act 2000; and
“UK recognised investment exchange” means a body corporate or unincorporated association in respect of which there is in effect a recognition order made under section 290(1)(a) of the Act (recognition orders in respect of investment exchanges other than overseas investment exchanges).
Prescribed markets
4. There are prescribed, as markets to which section 118 of the Act applies, all markets which are established under the rules of a UK recognised investment exchange.
Qualifying investments
5. There are prescribed, as qualifying investments in relation to the markets prescribed by article 4, all investments of a kind specified for the purposes of section 22 of the Act.
David Clelland
Clive Betts
Two of the Lords Commissioners of Her Majesty’s Treasury
15th March 2001
(This note is not part of the Order)
Section 123 of the Financial Services and Markets Act 2000 (c. 8)(“the Act”) gives the Financial Services Authority power to impose penalties or publish statements in cases of market abuse. Section 118 of the Act defines market abuse as behaviour, meeting conditions set out in section 118(1) and (2), which occurs in relation to a qualifying investment traded on a market to which section 118 applies. This Order prescribes (in article 4) the markets to which section 118 applies, and (in article 5) the investments which are qualifying investments in relation to those markets.
Article 4 prescribes, as markets to which section 118 applies, markets established under the rules of a UK recognised investment exchange. This is defined in...
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