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Session 1999-2000
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Amendments to the Financial Services and Markets Bill

Financial Services and Markets Bill -
Amendments to be debated in the House of Lords

Here you can browse the Amendments to the Financial Services and Markets Bill to be moved in Committee in the House of Lords.

  
Clause 19
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 8, line 38, at end insert--
 
    ("(5A)  An order under subsection (5) may, in particular, provide that subsection (1) does not apply in relation to communications--
    (a)  of a specified description;
    (b)  originating in a specified country or territory outside the United Kingdom;
    (c)  originating in a country or territory which falls within a specified description of country or territory outside the United Kingdom; or
    (d)  originating outside the United Kingdom.
    (5B)  The Treasury may by order repeal subsection (3).")
 
  
Clause 30
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 14, leave out line 24 
  
Clause 49
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 22, line 28, after ("may") insert ("reasonably") 
     Page 22, line 30, leave out ("further information.") and insert ("such further information as it reasonably considers necessary to enable it to determine the application.") 
  
Clause 58
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 25, line 24, after ("must") insert ("take reasonable care to") 
  
Clause 59
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 26, line 33, leave out ("further information") and insert ("such further information as it reasonably considers necessary to enable it to determine the application") 
  
Schedule 10
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 246, line 29, at end insert-- 
 
    ("(  )  a recognised body within the meaning of section 1(7) of the Law Reform (Miscellaneous Provisions) (Scotland) Act 1990,")
1990 c. 40.
     Page 246, line 31, after ("1985") insert-- 
 
          ("(  )  section 1 of the Housing Associations Act 1985,")
1985 c. 69
  
Clause 107
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 49, line 13, leave out ("mortgage or") 
     Page 50, line 5, at end insert--
 
    ("(  )  Charge" includes a mortgage (or, in Scotland, a security over property).")
 
  
Clause 121
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 56, leave out lines 37 and 38 
     Page 56, line 41, at end insert--
 
    ("(  )  Subsections (1) to (3) do not apply to Scotland.
 
    (  )  In relation to Scotland, the Lord Advocate may from time to time, after consultation with the Treasury, issue written guidance for the purpose of helping the Authority to determine the action to be taken in cases where behaviour mentioned in subsection (1) occurs.")
 
  
Clause 173
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 88, line 10, after ("may") insert ("reasonably") 
     Page 88, line 12, leave out ("considers reasonable") and insert ("reasonably considers necessary in order to enable it to determine what action it is to take in response to the notice") 
  
Clause 209
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 106, line 27, after ("who") insert ("or an entity which") 
     Page 106, line 38, at end insert ("; or
    (  )  under section 6 of the 1985 Act for the sequestration of the estate belonging to or held for or jointly by the members of an entity mentioned in subsection (1) of that section.")
 
  
Clause 231
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 119, line 25, at end insert--
 
    ("(5A)  The Treasury may by order specify circumstances in which subsection (1) does not apply.
 
    (5B)  An order under subsection (5A) may, in particular, provide that subsection (1) does not apply in relation to communications--
    (a)  of a specified description;
    (b)  originating in a specified country or territory outside the United Kingdom;
    (c)  originating in a country or territory which falls within a specified description of country or territory outside the United Kingdom; or
    (d)  originating outside the United Kingdom.
    (5C)  The Treasury may by order repeal subsection (3).")
 
  
Clause 235
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 120, line 40, leave out ("further information") and insert ("such further information as it reasonably considers necessary to enable it to determine the application") 
  
Clause 266
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 138, line 32, leave out ("further information") and insert ("such further information as it reasonably considers necessary to enable it to determine the application") 
  
Clause 282
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 145, line 43, leave out ("additional information") and insert ("such further information as it reasonably considers necessary to enable it to determine the application") 
  
Clause 290
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 150, line 2, after first ("it") insert ("reasonably") 
  
Clause 331
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 173, line 32, leave out ("thinks") and insert ("reasonably considers") 
  
After Clause 345
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Insert the following new Clause-- 
     ("  .--(1)  This section applies where a trust deed has been granted by or on behalf of a debtor who is an authorised person.
 
    (2)  The trustee must, as soon as practicable after he becomes aware that the debtor is an authorised person, send to the Authority--
    (a)  in every case, a copy of the trust deed;
    (b)  where any other document or information is sent to every creditor known to the trustee in pursuance of paragraph 5(1)(c) of Schedule 5 to the 1985 Act, a copy of such document or information.
    (3)  Paragraph 7 of that Schedule applies to the Authority as if it were a qualified creditor who has not been sent a copy of the notice as mentioned in paragraph 5(1)(c) of the Schedule.
 
    (4)  The Authority must be given the same notice as the creditors of any meeting of creditors held in relation to the trust deed.
 
    (5)  A person appointed for the purpose by the Authority is entitled to attend and participate in (but not to vote at) any such meeting of creditors as if the Authority were a creditor under the deed.
 
    (6)  This section does not affect any right the Authority has as a creditor of a debtor who is an authorised person.
 
    (7)  Expressions used in this section and in the 1985 Act have the same meaning in this section as in that Act.")
Authority's powers to participate in proceedings: trust deeds for creditors in Scotland.
  
Clause 360
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 188, line 13, at end insert--
 
    ("(  )  Individual" includes an entity mentioned in section 361(1)(c).")
 
  
Clause 361
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 188, line 19, at end insert ("; or
    (c)  under section 6 of the 1985 Act for the sequestration of the estate belonging to or held for or jointly by the members of an entity mentioned in subsection (1) of that section.")
 
     Page 188, line 22, after ("individual") insert ("or entity") 
     Page 188, line 29, at end insert ("or entity") 
     Page 188, line 39, at end insert--
 
    ("(  ) "Entity" means an entity which--
    (a)  is, or has been, an authorised person; or
    (b)  is carrying on, or has carried on, a regulated activity in contravention of the general prohibition.")
 
  
Clause 367
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 192, line 4, at end insert--
 
    ("(  )  In the application of subsection (6) to Scotland--
    (a)  in paragraph (a)(ii) for "which the Authority has power to prosecute under this Act" substitute "mentioned in paragraph (a) or (b) of section 384(1)"; and
    (b)  in paragraph (b) omit "which the Secretary of State has power to prosecute under this Act".")
 
  
Clause 369
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 193, line 39, at end insert--
 
    ("(  )  In the application of subsection (9) to Scotland--
    (a)  in paragraph (a)(ii) for "which the Authority has power to prosecute under this Act" substitute "mentioned in paragraph (a) or (b) of section 384(1); and
    (b)  in paragraph (b) omit "which the Secretary of State has power to prosecute under this Act".")
 
  
Clause 371
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 195, line 25, at end insert--
 
    ("(  )  In the application of subsection (5) to Scotland, in paragraph (b) for "in relation to which this Act confers power to prosecute on the Authority" substitute "mentioned in paragraph (a) or (b) of section 384(1)".")
 
 
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Prepared 13 March 2000