Financial Services and Markets Bill - continued        House of Lords
SCHEDULE 1, THE FINANCIAL SERVICES AUTHORITY - continued

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  PART II
  STATUS
     13. In relation to any of its functions-
 
 
    (a) the Authority is not to be regarded as acting on behalf of the Crown; and
 
    (b) its members, officers and staff are not to be regarded as Crown servants.
 
Exemption from requirement of "limited" in Authority's name
     14. The Authority is to continue to be exempt from the requirements of the 1985 Act relating to the use of "limited" as part of its name.
 
     15. If the Secretary of State is satisfied that any action taken by the Authority makes it inappropriate for the exemption given by paragraph 14 to continue he may, after consulting the Treasury, give a direction removing it.
 
 
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