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Status: You are viewing the version of the handbook as on 2005-06-30.

REC 1.2 Purpose, status and statutoryquotations

Purpose

REC 1.2.1GRP

The purpose of the guidance in this sourcebook is to give information onhow the FSA interprets the recognition requirements, andother obligations on recognised bodies in or under the Act. Explanations of the purposes of the rules in this sourcebook are given in the chapters concerned.

Status

REC 1.2.2GRP
  1. (1)

    Most of the provisions in this sourcebook are marked with a G (to indicate guidance) or an R (to indicate a rule). Quotations from statute or statutory instruments are marked with the letter "D" unless they form part of a piece of guidance. For a discussion of the status of provisions marked with a letter, see Chapter 6 of the Reader's Guide.

    1
  2. (2)

    Where the guidance states that the FSA may have regard to any factor in assessing or determining whether a recognition requirement is satisfied, or thatthere is compliance with another obligation under the Act, it means that the FSA will take that factor into account so far as it is relevant.

  3. (3)

    In determining whether a recognised body satisfies the recognition requirements or complies with other obligations in or under the Act, the FSA will have regard to any relevant factor, including, but not limited to, the factors specifically discussed in the guidance.1

Statutory quotations

REC 1.2.3GRP
  1. (1)

    This sourcebook contains quotations from the Act, the Recognition Requirements Regulations and the Companies Act 1989 and, where necessary, words have been added to, or substituted for, the text of these provisions to facilitate understanding.

  2. (2)

    The additions and substitutions are enclosed in square brackets ([ ]). The omission of words within a quotation is indicated by three dots (...).

  3. (3)

    Any words in these quotations which have the same meaning as Handbook defined terms are shown in italics and their definitions may be found in the Glossary.

  4. (4)

    As these quotations contain provisions which impose obligations, they are printed in bold type. The use of bold type is not intended to indicate that these quotations are rules made by the FSA.

  5. (5)

    None of the editorial changes made by the FSA in these quotations can supersede or alter the meaning of the statutoryprovision concerned.