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9 April 2008

Consultation on amendments relating to Part 7 of FSMA 2000 (‘Control of Business Transfers’)

This consultation sought views on proposals to make some clarificatory amendments to Part 7 of the Financial Services and Markets Act 2000 (and related secondary legislation), regarding the control of business transfers. It also sought views on proposals to extend transfer of insurance business provisions to certain former members of the Lloyd's insurance market, who are currently excluded from within their scope. The summary of responses and final proposed statutory instruments (SIs) making the amendments were published on 9 April 2008. The Treasury intends to lay three of the SIs as soon as possible after the period of one month from publication of the summary (the remaining SI, which relies on the coming into force of one of those other SIs, will be made as soon as that has happened). Full explanation is given in the summary document.

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