(1) These Regulations may be cited as the Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) Regulations 2001 and come into force on 1st December 2001.

(2) In these Regulations -

"the Act" means the Financial Services and Markets Act 2000;

"the parties" means the authorised person concerned and the transferee (within the meaning of section 105(2) or, as the case may be, section 106(2) of the Act);

"reclaim fund business transfer scheme" has the meaning given by section 106A(1) of the Act [Section 106A(1) was inserted by paragraph 2 of Schedule 2 to the Dormant Bank and Building Society Accounts Act 2008.];

"the report" means the scheme report mentioned in section 109(1) of the Act;