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2004 No. 3378

FINANCIAL SERVICES AND MARKETS

ELECTRONIC COMMUNICATIONS

The Electronic Commerce Directive (Financial Services and Markets) (Amendment) Regulations 2004

  Made 20th December 2004 
  Laid before Parliament 21st December 2004 
  Coming into force 11th January 2005 

The Treasury, being a government department designated for the purposes of section 2(2) of the European Communities Act 1972[1] in relation to information society services[2] and in relation to the distance marketing of consumer financial services[3], in exercise of the powers conferred by that section, hereby make the following Regulations:

Citation and commencement
     1. These Regulations may be cited as the Electronic Commerce Directive (Financial Services and Markets) (Amendment) Regulations 2004, and come into force on 11th January 2005.

Amendment of the Electronic Commerce Directive (Financial Services and Markets) Regulations 2002
     2.  - (1) Regulation 3 (consumer contract requirements: modification of rule-making power) of the Electronic Commerce Directive (Financial Services and Markets) Regulations 2002[4] is amended as follows.

    (2) After paragraph (4), insert - 

    (3) After paragraph (6), insert - 


Nick Ainger

Jim Murphy
Two of the Lords Commissioners of Her Majesty's Treasury

20th December 2004



EXPLANATORY NOTE

(This note is not part of
the Regulations)


These Regulations amend the Electronic Commerce Directive (Financial Services and Markets) Regulations 2002 so that rules made by the Financial Services Authority under section 138 of the Financial Services and Markets Act 2000 imposing consumer contract requirements do not apply to an electronic commerce activity consisting of the provision of an information society service from another EEA State, where the law of that State regulates the activity in accordance with Directive 2002/65/EC on the distance marketing of consumer financial services.


Notes:

[1] 1972 c.68. By virtue of the amendment of s. 1(2) made by s. 1 of the European Economic Area Act 1993 (c. 51) regulations may be made under s. 2(2) to implement obligations of the United Kingdom, or to enable the United Kingdom to enjoy any rights, created by or arising under the Agreement on the European Economic Area signed at Oporto on 2nd May 1992 (Cm 2073) and the Protocol adjusting the Agreement signed at Brussels on 17th March 1993 (Cm 2183).back

[2] S.I. 2001/3495.back

[3] S.I. 2004/1283.back

[4] S.I. 2002/1775, as amended by S.I. 2002/2015.back

[5] O.J. L 271, 9.10.2002, p.16; the Directive applies to EEA States which are not Member States of the European Community by virtue of Decision No. 47/2003 of the EEA Joint Committee dated 16th May 2003 (O.J. L193, 31.7.2003, page 18).back



ISBN 0 11 051400 9


  © Crown copyright 2004

Prepared 31 December 2004


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URL: http://www.bailii.org/uk/legis/num_reg/2004/20043378.html