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

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Clause 83
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 38, line 30, after ("the") insert ("competent") 
  
Clause 90
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 42, line 4, leave out ("impose a penalty on") and insert ("take action against") 
     Page 42, line 6, leave out subsections (2) and (3) and insert--
 
    ("(2)  A warning notice about a proposal to impose a penalty must state the amount of the proposed penalty.
 
    (3)  A warning notice about a proposal to publish a statement must set out the terms of the proposed statement.
 
    (4)  If the competent authority decides to take action against a person under section 89, it must give him a decision notice.
 
    (5)  A decision notice about the imposition of a penalty must state the amount of the penalty.
 
    (6)  A decision notice about the publication of a statement must set out the terms of the statement.
 
    (7)  If the competent authority decides to take action against a person under section 89, he may refer the matter to the Tribunal.")
 
  
Clause 91
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 42, line 19, after first ("The") insert ("competent") 
     Page 42, line 37, after ("The") insert ("competent") 
  
Clause 93
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Leave out Clause 93 
  
Clause 94
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 43, line 37, after first ("the") insert ("competent") 
  
Clause 101
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 47, leave out lines 17 and 18 
  
Clause 103
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 50, line 2, after ("in") insert ("the United Kingdom; or
    (b)  is")
 
  
Clause 122
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 60, line 23, leave out subsection (2) and insert--
 
    ("(2)  A warning notice about a proposal to impose a penalty must state the amount of the proposed penalty.
 
    (2A)  A warning notice about a proposal to publish a statement must set out the terms of the proposed statement.")
 
     Page 60, line 24, leave out subsection (3) 
  
Clause 123
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 60, line 30, leave out subsection (2) and insert--
 
    ("(2)  A decision notice about the imposition of a penalty must state the amount of the penalty.
 
    (2A)  A decision notice about the publication of a statement must set out the terms of the statement.")
 
     Page 60, line 31, leave out subsection (3) 
  
Clause 124
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Leave out Clause 124 
  
Clause 130
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 62, line 26, after ("notice") insert ("or supervisory notice") 
     Page 62, line 31, leave out from ("evidence") to end of line 32 and insert ("relating to the subject-matter of the reference, whether or not it was available to the Authority at the material time") 
     Page 62, line 33, leave out subsection (4) and insert--
 
    ("(4)  On a reference the Tribunal must determine what (if any) is the appropriate action for the Authority to take in relation to the matter referred to it.
 
    (4A)  On determining a reference, the Tribunal must remit the matter to the Authority with such directions (if any) as the Tribunal considers appropriate for giving effect to its determination.
 
    (4B)  In determining a reference made as a result of a decision notice, the Tribunal may not direct the Authority to take action which the Authority would not, as a result of section 383(2), have had power to take when giving the decision notice.
 
    (4C)  In determining a reference made as a result of a supervisory notice, the Tribunal may not direct the Authority to take action which would have otherwise required the giving of a decision notice.
 
    (4D)  The Tribunal may, on determining a reference, make recommendations as to the Authority's regulating provisions or its procedures.")
 
     Page 62, line 40, leave out from beginning to ("until") and insert ("The Authority must not take the action specified in a decision notice--
    (a)  during the period within which the matter to which the decision notice relates may be referred to the Tribunal; and
    (b)  if the matter is so referred,")
 
     Page 62, line 41, leave out ("decision,") and insert ("determination,") 
     Page 63, line 1, leave out ("If a matter is remitted to the Authority,") 
     Page 63, line 2, leave out ("decision of") and insert ("determination of, and any direction given by,") 
     Page 63, line 5, at end insert--
 
    ("(  )  Supervisory notice" has the same meaning as in section 390.")
 
  
Clause 140
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 68, line 24, leave out ("subsection (4) applies") and insert ("subsections (3) and (4) apply") 
  
Clause 196
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 103, line 28, after ("power") insert ("of the Authority on its own initiative") 
     Page 103, line 28, leave out ("or vary") 
  
Clause 253
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 132, line 6, leave out from ("scheme") to end of line 8 
     Page 132, line 9, leave out from ("up") to end of line 11 
  
Clause 255
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 133, line 29, at end insert--
 
    ("(  )  If the direction imposes a requirement under section 253(2)(a), the notice must state that the requirement has effect until--
    (a)  a specified date; or
    (b)  a further direction.
    (  )  If the direction imposes a requirement under section 253(2)(b), the scheme must be wound up--
    (a)  by a date specified in the notice; or
    (b)  if no date is specified, as soon as practicable.")
 
     Page 134, line 7, at end insert--
 
    ("(12)  For the purposes of subsection (1)(c), whether a matter is open to review is to be determined in accordance with section 386(6A).")
 
  
Clause 264
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 139, line 28, at end insert--
 
    ("(14)  For the purposes of subsection (1)(c), whether a matter is open to review is to be determined in accordance with section 386(6A).")
 
  
Clause 265
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 139, line 39, at end insert--
 
    ("(  )  If the application is refused, the operator of the scheme may refer the matter to the Tribunal.")
 
  
Clause 278
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 146, line 23, at end insert--
 
    ("(12)  For the purposes of subsection (1)(c), whether a matter is open to review is to be determined in accordance with section 386(6A).")
 
  
Clause 317
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 169, line 23, after ("If") insert ("the Authority decides to refuse") 
     Page 169, line 23, leave out ("is refused") 
  
Clause 329
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 176, line 14, at end insert--
 
    ("(4)  Part IA of Schedule 18--
    (a)  removes certain restrictions on the ability of incorporated friendly societies to form subsidiaries and control corporate bodies; and
    (b)  makes connected amendments.")
 
  
Clause 381
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Leave out Clause 381 
  
Clause 383
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 203, line 35, leave out paragraph (b) 
     Page 204, line 8, leave out subsection (3) 
  
Clause 384
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 204, line 26, leave out from ("if") to ("of") in line 27 and insert ("the discontinuance of the proceedings concerned results in the granting") 
     Page 204, line 27, at end insert ("warning or decision") 
  
Clause 385
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 205, line 11, at end insert--
 
    ("(5A)  A final notice about a requirement to make a payment or distribution in accordance with section 378(3) must state--
    (a)  the persons to whom,
    (b)  the manner in which, and
    (c)  the period within which,
it must be made.")
 
     Page 205, line 15, after ("(5)(b)") insert ("or (5A)(c)") 
     Page 205, line 19, at end insert--
 
    ("(  )  If all or any of a required payment or distribution has not been made at the end of a period stated in a final notice under section (5A)(c), the obligation to make the payment is enforceable, on the application of the Authority, by injunction or, in Scotland, by an order under section 45 of the Court of Session Act 1988.")
 
  
Clause 386
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 205, line 33, at end insert--
 
    ("(  )  When a supervisory notice takes effect, the Authority must publish such information about the matter to which the notice relates as it considers appropriate.")
 
     Page 205, line 38, at end insert--
 
    ("(6A)  For the purposes of determining when a supervisory notice takes effect, a matter to which the notice relates is open to review if--
    (a)  the period during which any person may refer the matter to the Tribunal is still running;
    (b)  the matter has been referred to the Tribunal but has not been dealt with;
    (c)  the matter has been referred to the Tribunal and dealt with but the period during which an appeal may be brought against the Tribunal's decision is still running; or
    (d)  such an appeal has been brought but has not been determined.")
 
     Page 205, line 39, at end insert--
 
    ("(  )  Supervisory notice" has the same meaning as in section 390.")
 
  
Clause 387
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 206, line 3, after ("section") insert ("(Cancellation of Part IV permission: procedure)(1),") 
     Page 206, line 4, after ("66(1),") insert (" 87(4)(b),") 
     Page 206, line 7, after ("section") insert ("(Cancellation of Part IV permission: procedure)(2),") 
     Page 206, line 8, after ("66(4),") insert (" 87(6)(b),") 
 
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