Examples of FS Act in a sentence
The FS Act also provides for formalised co- operation to exist between the FCA and the FOS (which determines complaints by eligible complainants in relation to authorised financial services firms, consumer credit licensees and certain other businesses), particularly where issues identified potentially have wider implications with a view to the FCA requiring firms to operate consumer redress schemes.
In December 2012, the UK Parliament passed the Financial Services Act 2012 (the "FS Act"), which created a new regulatory framework for the supervision and management of the banking and financial services industry in the United Kingdom, including the consumer lending industry.
Paragraph 9(1)(b) of Schedule 15 to the FS Act provides that the Authority shall not confirm a transfer if it considers that the vote on any resolution approving a transfer does not represent the views of the members eligible to vote.
Paragraph 6 of Schedule 15 of the FS Act also states that the notice of the application shall be published in one or more newspapers if so directed by the Authority.
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Paragraph 6 of Schedule 15 of the FS Act requires that, where a friendly society applies to the Authority for confirmation of a transfer of engagements, a notice shall be published stating that interested parties have the right to make representations to the Authority with respect to the application.
The Authority considered whether the Transfer is eligible for confirmation under the FS Act.
Paragraph 12(b) of Schedule 15 to the FS Act provides that the Authority shall not confirm a transfer unless it is satisfied that the transfer is in the interests of the members of each friendly society participating in the transfer.
Paragraph 12(a) of Schedule 15 to the FS Act provides that the Authority shall not confirm a transfer unless it is satisfied that all the engagements included in the transfer may be transferred in accordance with the FS Act.
Paragraph 1 of section 86 of the FS Act provides that a society may transfer its engagements to a company registered under the Companies Act 2006, or in relation to engagements which constitute the carrying on of insurance business, to any other person who is an insurer.