The Financial Services and Markets Act 2023 (Commencement No. 11 and Saving Provisions) Regulations 2025
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Change 1
11 Savings relating to the Organisational Requirements Regulation
(1) The revocation by section 1(1) of, and Schedule 1 to, the Act of the Organisational Requirements Regulation does not apply in relation to a PISCES operator in relation to the operation of a PISCES until the earlier of— (a) 5th June 2030; (b) the date on which any rules applicable to PISCES operators made by the FCA under FSMA 2000 in replacement of the Organisational Requirements Regulation come into force. (2) In relation to the saving made in paragraph (1), the revocation by section 1(1) of, and Schedule 1 to, the Act of the Organisational Requirements Regulation does not apply for the purposes of the definition of “relevant enactment” in section 17(3) of the Act (interpretation). (3) In this regulation, “PISCES” and “PISCES operator” each has the meaning given in regulation 2 of the Financial Services and Markets Act 2023 (Private Intermittent Securities and Capital Exchange System Sandbox) Regulations 2025 (interpretation).
11 Savings relating to the Organisational Requirements Regulation
(1) The revocation by section 1(1) of, and Schedule 1 to, the Act of the Organisational Requirements Regulation does not apply in relation to a PISCES operator in relation to the operation of a PISCES until the earlier of— (a) 5th June 2030; (b) the date on which any rules applicable to PISCES operators made by the FCA under FSMA 2000 in replacement of the Organisational Requirements Regulation come into force. (2) In relation to the saving made in paragraph (1), the revocation by section 1(1) of, and Schedule 1 to, the Act of the Organisational Requirements Regulation does not apply for the purposes of the definition of “relevant enactment” in section 17(3) of the Act (interpretation). (3) In this regulation, “PISCES” and “PISCES operator” each has the meaning given in regulation 2 of the Financial Services and Markets Act 2023 (Private Intermittent Securities and Capital Exchange System Sandbox) Regulations 2025 (interpretation).
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