Check your settings below and select the cookies you’re happy with.

Strictly Necessary Cookies

These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site will not then work. These cookies do not store any information which allows us to identify you unless you are logged into your account.

Performance Cookies

These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we will not know when you have visited our site and will not be able to monitor its performance.

Functional Cookies

These cookies enable the website to provide enhanced functionality and personalisation. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies then some or all of these services may not function properly.

Targeting Cookies

These cookies may be set through our site by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant adverts on other sites. They do not store directly information which allows us to identify you personally but are based on uniquely identifying your browser and internet device. If you do not allow these cookies, you will experience less targeted advertising.

Find out more about www.allaboutcookies.org or view our cookie policy.

Skip to main content

Home
FCA Handbook
CONC
CONC TP 2 TP 2 Transitional provisions in relation...

CONC TP 2 TP 2 Transitional provisions in relation to corresponding rules

1(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
2.1	CONC, to the extent there is a corresponding rule	R	(1)	A credit firm and an EEA firm with respect to carrying on a credit-related regulated activity will not contravene a rule in CONC to the extent that, on or after 1 April 2014, it is able to demonstrate that it has complied with the corresponding rule, with any necessary modification to take account of the coming into force of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No 2) Order 2013 and the Financial Services Act 2012 (Consumer Credit) Order 2013.	The transitional period	1 April 2014
2.2		G	(1)	In order to benefit from the transitional provision, a credit firm or an EEA firm must ensure that the corresponding rule referred to in TP 1.3R with which it complies is substantially similar in purpose and effect to the provision in CONC to which it relates.
			(2)	For the assistance of firms, CONC includes notes which indicate particular rules or guidance for which there is a corresponding rule. Firms may wish to refer to these notes but in doing so should understand that they are not intended to be exhaustive and are produced merely as a guide. Firms are advised that should they wish to take advantage of the transitional provisions set out in this section, the onus is on the firm to be able to demonstrate that in any given case it has in fact complied with the corresponding rules.
			(3)	Firms will have noted that they should treat the corresponding rules as modified to the extent necessary to ensure that the provision can operate effectively notwithstanding the enactment of the Order in TP 1.1R. Firms will need to adopt a common-sense approach in interpreting the corresponding rules and modify them accordingly. For example, references in such rules to the OFT should be read as if they referred to the FCA.