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Statutory Instruments
1989 No. 1586
FINANCIAL SERVICES
The Financial Services (Recognised Collective Investment Schemes from Other Member States) (Luxembourg) Order 1988 (Revocation) Order 1989
Made
31st August 1989
Coming into force
1st October 1989
The Secretary of State, in exercise of the powers conferred on him by paragraph 10 of Schedule 15 to the Financial Services Act 1986(1) and of all other powers enabling him in that behalf, hereby makes the following Order-“
1. This Order may be cited as the Financial Services (Recognised Collective Investment Schemes from Other Member States) (Luxembourg) Order 1988 (Revocation) Order 1989 and shall come into force on 1st October 1989.
2. The Financial Services (Recognised Collective Investment Schemes from Other Member States) (Luxembourg) Order 1988(2) is revoked except insofar as it has effect in relation to-“
(a)any collective investment scheme recognised by virtue of it before the date on which this Order comes into force; and
(b)any collective investment scheme in respect of which notice has, before the date on which this Order comes into force, been given to the Secretary of State under Section 86(2) of the Financial Services Act 1986 as that section has effect for the purposes of paragraph 10 of Schedule 15 to that Act.
Eric Forth
Parliamentary Under Secretary of State,
Department of Trade and Industry
31st August 1989
Explanatory Note
(This note is not part of the Order)
This Order revokes the Financial Services (Recognised Collective Investment Schemes from Other Member States) (Luxembourg) Order 1988 except insofar as that order has effect in relation to collective investment schemes falling within article 2 of the Financial Services Act 1986 will, in future, apply to other collective investment schemes of a class specified in the order being revoked.
S.I. 1988/2258.