§ Lord Hodgson of Astley Abbottsasked Her Majesty's Government:
What is the currently expected date for N2, the coming into force of the Financial Services and Markets Act 2000; how many statutory instruments have to be passed before N2; and how many have so far been passed. [HL1543]
§ Lord McIntosh of HaringeyThe Economic Secretary announced on 15 March that N2 will be no later than the end of November 2001.
The Treasury expects to seek Parliament's approval before N2 to the exercise of around 80 powers contained in the Financial Services and Markets Act 2000, although these will be grouped into a smaller number of statutory instruments. A list of the powers was attached to a Treasury paper, Financial Services and Markets Act: The Way Ahead, published in August 2000. The paper is available in the Library of the House and on the Treasury's website (www.hmtreasury.gov.uk/legislation).
As at 3 April, 16 statutory instruments, including Commencement Orders, had been made.