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Status: You are viewing the version of the handbook as on 2009-03-31.

COMP Sch 4 Powers Exercised

COMP Sch 4.1G

1The following powers and related provisions in or under the Act and the Financial Services and Markets Act 2000 (Transitional Provisions, Repeals and Savings) (Financial Services Compensation Scheme) Order 2001 ("the compensation transitionals order") have been exercised by the FSA to make the rules in COMP:

Section 138 (General rule-making power)

Section 156 (General supplementary powers)

Section 213 (The compensation scheme)

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 (Annual report)

Section 223 (Management expenses)

Section 316(1) (Direction by Authority)

Article 4 (Pending Applications) of the compensation transitionals order

Article 6 (Post-commencement applications) of the compensation transitionals order

Article 9 (Article 9 defaults occurring before commencement) of the compensation transitionals order

Article 9A (Contributions in relation to mesothelioma claims) of the compensation transitionals order.

Article 10 (Applications in respect of compulsory liability insurance) of the compensation transitionals order

Article 12 (Applications under the new scheme) of the compensation transitionals order

COMP Sch 4.2G

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

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.

COMP Sch 4.3G

The following powers in the Act have been exercised by the FSA to give the guidance in COMP:

Section 157(1) (Guidance)