Office of Public Sector Information
Statutory Instruments
Banks and banking
Electronic communications
financial services and markets
insolvency
Made
22nd January 2007
Laid before Parliament
23rd January 2007
Coming into force
13th February 2007
The Treasury are a government department designated for the purposes of section 2(2) of the European Communities Act 1972(1) in relation to—
(a) measures relating to preventing the use of the financial system for the purpose of money laundering(2);
(b) measures relating to investment firms and to the provision of investment services and to the operation of regulated markets and clearing or settlement systems(3);
(c) measures relating to the movement of capital and to payments, between Member States and between Member States and countries which are not Member States(4);
(d) authorisation of the carrying on of insurance business and the regulation of such business and its conduct(5);
(e) measures relating to payment systems, and to collateral security provided to the central banks of Member States or to the European Central Bank(6);
(f) credit and financial institutions and the taking of deposits or other repayable funds from the public, and information society services(7);
(g) insolvency of insurers, authorisation and regulation of insurance intermediaries, and collective investment in transferable securities and other liquid assets(8);
(h) the distance marketing of consumer financial services(9);
(i) insider dealing and market manipulation(10).
The Treasury make these Regulations in exercise of the powers conferred on them by section 2(2) of that Act:
1. These Regulations may be cited as the Financial Services (EEA State) Regulations 2007, and come into force on 13th February 2007.
2. In Schedule 3 to the Financial Services and Markets Act 2000(11) (EEA Passport Rights), for paragraph 8 substitute—
“8. “EEA State” has the meaning given by Schedule 1 to the Interpretation Act 1978(12).”.
3. In regulation 2(1) of the Credit Institutions (Protection of Depositors) Regulations 1995(13), for the definition of “EEA State” substitute—
““EEA State” has the meaning given by Schedule 1 to the Interpretation Act 1978;”.
4. In regulation 2(1) of the Cross-Border Credit Transfers Regulations 1999(14), for the definition of “EEA State” substitute—
““EEA State” has the meaning given by Schedule 1 to the Interpretation Act 1978;”.
5. In regulation 2(1) of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999(15), for the definition of “EEA State” substitute—
““EEA State” has the meaning given by Schedule 1 to the Interpretation Act 1978;”.
6. In regulation 2(1) of the Electronic Commerce Directive (Financial Services and Markets) Regulations 2002(16), for the definition of “EEA State” substitute—
““EEA State” has the meaning given by Schedule 1 to the Interpretation Act 1978;”.
7. In regulation 2(1) of the Money Laundering Regulations 2003(17), for the definition of “EEA State” substitute—
““EEA State” has the meaning given by Schedule 1 to the Interpretation Act 1978;”.
8. In regulation 2(1) of the Insurers (Reorganisation and Winding Up) Regulations 2004(18), for the definition of “EEA State” substitute—
““EEA State” has the meaning given by Schedule 1 to the Interpretation Act 1978;”.
9. In regulation 2(1) of the Credit Institutions (Reorganisation and Winding up) Regulations 2004(19), for the definition of “EEA State” substitute—
““EEA State” has the meaning given by Schedule 1 to the Interpretation Act 1978;”.
10. In regulation 2(1) of the Financial Services (Distance Marketing) Regulations 2004(20), for the definition of “EEA State” substitute—
““EEA State” has the meaning given by Schedule 1 to the Interpretation Act 1978;”.
11. In regulation 2 of the Investment Recommendation (Media) Regulations 2005(21), for the definition of “EEA State” substitute—
““EEA State” has the meaning given by Schedule 1 to the Interpretation Act 1978;”.
Claire Ward
Alan Campbell
Two of the Lords Commissioners of Her Majesty’s Treasury
22nd January 2007
1972 c. 68; by virtue of the amendment of section 1(2) made by section 1 of the European Economic Area Act 1993 (c. 51) regulations may be made under section 2(2) to implement obligations of the United Kingdom created by or arising under the Agreement on the European Economic Area signed at Oporto on 2nd May 1992 (Cm 2073) and the Protocol adjusting that Agreement signed at Brussels on 17th March 1993 (Cm 2183). Section 57(1) of the Scotland Act 1998 (c. 46) provides that despite the transfer to the Scottish Ministers of functions in relation to observing and implementing obligations under Community law, any function of a Minister of the Crown shall continue to be exercisable by him as regards Scotland for the purposes specified in section 2(2) of the European Communities Act 1972. Back [1]
S.I. 1997/2781, under which the Treasury was designated in place of the Secretary of State. Back [5]
S.I. 1998/2793. Back [6]
S.I. 2001/3495. Back [7]
S.I. 2002/2840. Back [8]
S.I. 2004/1283. Back [9]
S.I. 2004/2642. Back [10]
1978 c.30; the definition of “EEA state” was inserted by section 26 of the Legislative and Regulatory Reform Act 2006 (c. 51). Back [12]
S.I. 1999/1876. Back [14]
S.I. 1999/2979. Back [15]
S.I. 2002/1775. Back [16]
S.I. 2003/3075. Back [17]
S.I. 2004/353. Back [18]
S.I. 2004/1045. Back [19]
S.I. 2004/2095. Back [20]
S.I. 2005/382. Back [21]
The Financial Services (Eea State) Regulations 2007