The Financial Services Act 2021 (Overseas Funds Regime and Recognition of Parts of Schemes) (Amendment and Modification) Regulations 2024

These Regulations make amendments consequential on provision in the Financial Services Act 2021 (c. 22) for recognition of collective investment schemes authorised in approved countries. The Financial Services Act 2021 inserted a new section 271A into the Financial Services and Market Act 2000 (c. 8) (“the Act”). The provisions amended by regulations 5(2) and (3), 7(2) and (3), 10, 12(2) and (3) and 14 refer to overseas schemes that are individually recognised under section 272 of the Act and the amendments add references to schemes recognised under section 271A of the Act. The amendments made by regulations 5(2) and (3), 7(2) and (3), 10, 12(2) and (3) and 14 are to provisions contained in the Rehabilitation of Offenders Act 1974 (Exceptions) Order 1975 (S.I. 1975/1023), Rehabilitation of Offenders (Exceptions) Order (Northern Ireland) 1979 (S.R. & O. (N. I.) No. 1979 No. 195), Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (S.I. 2005/1529), Rehabilitation of Offenders Act 1974 (Exclusions and Exceptions) (Scotland) Order 2013 (S.S.I. 2013/50) and Regulation (EU) No 1286/2014 (EUR 2014/1286, as amended by S.I. 2019/403 (which was amended by S.I. 2020/1385)).