COB TP7 Transitional rules for carrying on with-profits business

1(1)

(2)

(3)

(4)

(5)

(6)

Material to which the transitional provision applies

Transitional provision

Transitional provision: dates in force

Handbook provision: coming into force

1.

COB 6.10.24A G; COB 6.10.29; COB 6.10.37; COB 6.12.1 R to COB 6.12.15; and COB 6.12.45 R to COB 6.12.116 G

R

The provisions listed in column (2) do not apply to a firm if, and to the extent that, they are inconsistent with an arrangement that was formally approved by the FSA, a previous regulator or a court of competent jurisdiction, on or before 20 January 2005.

From 30 June 2005

30 June 2005

2.

COB 6.12.16 G to COB 6.12.44 G

G

The provisions listed in column (2) of this table do not apply to a firm if, and to the extent that, they are inconsistent with an arrangement that was formally approved by the FSA, a previous regulator or a court of competent jurisdiction, on or before 20 January 2005.

From 31 December 2005

31 December 2005

3.

Paragraphs 1 and 2

G

COB 6.12 may be contrary to, or inconsistent with, some arrangements that were formally approved by the FSA, a previous regulator or a court of competent jurisdiction, on or before 20 January 2005. The effect of COB TP 7.1 is that COB 6.12 does not apply to such arrangements if, and to the extent that, it is inconsistent them. A firm should be mindful, however, that, even if some or all of COB 6.12 is disapplied, the firm is still subject to the rules in the rest of the Handbook, including Principle 6.

From 30 June 2005

From 30 June 2005