Page 476 - IOM Law Society Rules Book

c.8 Financial Services Act 2008 179

(4) Regulations referred to in subsection (3) may be amended SCH. 6
or revoked in accordance with section 28 of the Interpretation Act
1976.

(5) This section shall be deemed to have had effect from 17
October 2006.”.

Trustee Act 1961 (XIX p.215)

8. In section 41(1)(d), for “section 2(1) or (2) of the Fiduciary Services Act
2005” substitute “section 4 of the Financial Services Act 2008”.

9. For section 65A(b) substitute —
“(b) a body which is incorporated under the law of the Island or
any part of the United Kingdom and is licensed under section
7 of the Financial Services Act 2008 to act as a trust
corporation.”.

Income Tax Act 1970 (XXI p.260)

10. In section 11A(2)(b), for “a banking institution within the meaning of the
Banking Act 1998” substitute “the holder of a licence under section 7 of the
Financial Services Act 2008 in respect of deposit taking”.

11. In section 13E(1)(a), for “section 3 of the Corporate Service Providers Act
2000” substitute “section 7 of the Financial Services Act 2008 in respect of the
provision of corporate services”.

12. In section 31C(4) —

(a) in the definition of “compensation scheme” for “section 21 of the
Financial Supervision Act 1988” substitute “section 25 of the Financial
Services Act 2008”; and
(b) in the definition of “fund” for “section 21” substitute “section 25”.

Advocates Act 1976 (c.27)

13. In section 29, in the definition of “bank” for “a bank duly licensed under the
Banking Act 1975” substitute “the holder of a licence under section 7 of the
Financial Services Act 2008 in respect of deposit taking”.

Theft Act 1981 (c.21)

14. In section 15B(2), for “section 25 of the Banking Act 1998” substitute
“section 36 of the Financial Services Act 2008”.

Companies Act 1982 (c.2)

15. For section 12A(2)(b) and (c) substitute —