Transitional Provisions
LR TR 1
Transitional Provisions: General and Venture Capital Trusts
General Transitional Provisions| (1) | (2) Material to which the transitional provision applies |
(3) | (4) Transitional provision |
(5) Transitional provision: dates in force |
(6) Handbook provision: coming into force |
| 1 | Amendments to LR set out in Annex B of the Transparency Obligations Directive (Disclosure and Transparency Rules) Instrument 2006, relating to: (i) DTR 4 and periodic financial reporting; and (ii) DTR 6 in so far as they may relate to, or are required to give effect to, amendments in (i). |
R | The amendments described in column 2 shall have effect as follows: | From 20 January 2007 | |
| 1A | LR provisions referring to Companies Acts 1985, 2006 or related provisions. | R | (1) To the extent that the whole or part of a provision of the Companies Act 2006 is yet to come into force, any reference to that provision or part of it should be read as a reference to the corresponding provision of the Companies Act 1985 currently in force (subject to the application of any relevant transitional provisions in the Companies Act 2006 or the rules). (2) To the extent that the whole or part of a provision of the Companies Act 1985 is no longer in force it shall be read as a reference to the corresponding provision of the Companies Act 2006 or relevant DTR rule that has superseded it (subject to the application of any relevant transitional provisions). |
6 October 2007 | 20 January 2007 |
| 1B | LR 12.4.7 R (2) | R | A company may obtain the approval required by LR 12.4.7 R (2) by extraordinary resolution (rather than a special resolution) if there is a reference to an extraordinary resolution in the company's memorandum and articles which requires or permits it and which continues to have effect by virtue of article 9 and paragraph 23 of Schedule 3 of The Companies Act 2006 (Commencement No.3, Consequential Amendments, Transitional Provisions and Savings) Order 2007. | From 6 February 2008 until further notice | 1 July 2005 |
| (1) | (2) Material to which the transitional provision applies |
(3) | (4) Transitional provision |
(5) Transitional provision: dates in force |
(6) Handbook provision: coming into force |
| 2 | LR 15.2.11 R - LR 15.2.13A R and LR 15.4.7 R | R | Do not apply in respect of a venture capital trust listed before the date this instrument comes into force. | From 28 September 2007 to 28 September 2010 | 28 September 2007 |
| 3 | LR 15.6.8 R | R | Does not apply in respect of a venture capital trust listed before the date this instrument comes into force. | From 28 September 2007 to 28 September 2010 | 28 September 2007 |
- 06/03/2008
LR TR 2
Transitional Provision for closed-ended investment funds listed before 28 September 2007
| (1) | (2) Material to which the transitional provisions applies | (3) | (4) Transitional provision | (5) Transitional provision: dates in force | (6) Handbook provision coming into force |
| 1 | LR 15.4.1A R and LR 15.4.1B G | R | LR 15.4.1A R and LR 15.4.1B G do not apply to a closed-ended investment fund listed before 28 September 2007 until the date of the publication of its first annual report after 28 September 2007. | 6 March 2008 | 6 March 2008 |
- 06/03/2008
LR TR 3
Transitional Provisions for Investment Entities already listed under LR 14
| (1) | (2) Material to which the transitional provisions applies | (3) | (4) Transitional provision | (5) Transitional provision: dates in force | (6) Handbook provision coming into force |
| 1. | LR 14, LR 15 and LR 16 | R | These transitional provisions apply to an entity that is an overseas company and an investment entity and that immediately before 6 March 2008 did not comply with the requirements of LR 15 or LR 16 but complied with the requirements of LR 14. | 6 March 2008 | 6 March 2008 |
| 2. | LR 14, LR 15 and LR 16 | R | LR 14 continues to apply to the entity for so long as it is listed after that date (and LR 15 and LR 16 do not apply) unless the entity makes an election under rule 3 of these transitional provisions. | 6 March 2008 Indefinite | 6 March 2008 |
| 3. | LR 14, LR 15 and LR 16 | R | The entity may by notice in writing given to the FSA elect to comply with the requirements of LR 15 or LR 16 (whichever is applicable to the entity) instead of the requirements in LR 14 from a date specified in the notice. An entity should not give notice under this transitional rule unless it has come to a reasonable opinion, after having made due and careful enquiry, that it can satisfy the requirements of LR 15 and 16 (as the case may be). | 6 March 2008 Indefinite | 6 March 2008 |
| 4. | LR 14, LR 15 and LR 16 | R | If an entity gives a notice under TR3 3R of these transitional provisions it must comply with the requirements of LR 15 or LR 16 (as the case may be) from the date specified in the notice and the requirements of LR 14 no longer apply to the entity from that date. | 6 March 2008 Indefinite | 6 March 2008 |
| Note: An entity which intends to give notice under LR 3LR TR 3 3R should consult with the FSA at the earliest possible stage if it intends to comply with the requirements of LR 15 or LR 16 (whichever is applicable to the entity) instead of the requirements in LR 14. | |||||
- 06/03/2008