Regulation of Financial Services (Land Transactions) Act 2005
Encyclopedia
The Regulation of Financial Services (Land Transactions) Act 2005 (c 24) is an Act
of the Parliament of the United Kingdom
. The purpose of the Act is to allow Ijara
products and flexible tenure products to be regulated by the Financial Services Authority
.
.
Section 2(2) provides that the Act came into force at the end of the period of two months that began on the date on which it was passed. The word "months" means calendar months. The day (that is to say, 19 December 2005) on which the Act was passed (that is to say, received royal assent) is included in the period of two months. This means that the Act came into force on 19 February 2006.
Acts of Parliament in the United Kingdom
An Act of Parliament in the United Kingdom is a type of legislation called primary legislation. These Acts are passed by the Parliament of the United Kingdom at Westminster, or by the Scottish Parliament at Edinburgh....
of the Parliament of the United Kingdom
Parliament of the United Kingdom
The Parliament of the United Kingdom of Great Britain and Northern Ireland is the supreme legislative body in the United Kingdom, British Crown dependencies and British overseas territories, located in London...
. The purpose of the Act is to allow Ijara
Ijara
Ijara is a town in the North Eastern Province of Kenya. It is capital of the Ijara District. Ijara is a very remote town; it is located 100 km north of Lamu and 180 km south of Garissa....
products and flexible tenure products to be regulated by the Financial Services Authority
Financial Services Authority
The Financial Services Authority is a quasi-judicial body responsible for the regulation of the financial services industry in the United Kingdom. Its board is appointed by the Treasury and the organisation is structured as a company limited by guarantee and owned by the UK government. Its main...
.
Section 1 - Financial Services and Markets Act 2000: regulated activities
This section inserts paragraph 23A of Part 2 of Schedule 2 to the Financial Services and Markets Act 2000Financial Services and Markets Act 2000
The Financial Services and Markets Act 2000 is an Act of the Parliament of the United Kingdom that created the Financial Services Authority as a regulator for insurance, investment business and banking.-Outline:...
.
Section 2 - Short title and commencement
Section 2(1) authorises the citation of the Act by a short title.Section 2(2) provides that the Act came into force at the end of the period of two months that began on the date on which it was passed. The word "months" means calendar months. The day (that is to say, 19 December 2005) on which the Act was passed (that is to say, received royal assent) is included in the period of two months. This means that the Act came into force on 19 February 2006.
External links
- The Regulation of Financial Services (Land Transactions) Act 2005, as amended from the National Archives.
- The Regulation of Financial Services (Land Transactions) Act 2005, as originally enacted from the National Archives.
- Explanatory notes to the Regulation of Financial Services (Land Transactions) Act 2005.