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

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Clause 388
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 206, line 38, at end insert ("or") 
  
Clause 390
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 209, line 15, at end insert--
    ("(  )  (Exercise of own-initiative power to vary Part IV permission: procedure)(4), (7) or (8)(b);
    (  )  (Discontinuance or suspension: procedure)(2) or (5);
    (  )  193(3), (6) or (7)(b);")
 
     Page 209, line 17, leave out paragraphs (b) and (c) and insert--
    ("(  )  264(3), (7)(a) or (9)(a) (as a result of subsection (8)(b));
    (  )  278(3), (6) or (7)(b);")
 
  
Clause 395
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 212, line 5, leave out subsection (3) 
     Page 212, line 10, leave out ("in Scotland") 
     Page 212, line 23, at end insert--
 
    ("(  )  If an offence under this Act committed by an unincorporated association (other than a partnership) is shown--
    (a)  to have been committed with the consent or connivance of an officer of the association or a member of its governing body, or
    (b)  to be attributable to any neglect on the part of such an officer or member,
that officer or member as well as the association is guilty of the offence and liable to be proceeded against and punished accordingly.")
 
     Page 212, line 26, after ("unincorporated") insert ("association") 
  
After Clause 397
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Insert the following new Clause-- 
     ("  .--(1)  A fine imposed on an unincorporated association on its conviction of an offence is to be paid out of the funds of the association.
 
    (2)  Proceedings for an offence alleged to have been committed by an unincorporated association must be brought in the name of the association (and not in that of any of its members).
 
    (3)  Rules of court relating to the service of documents are to have effect as if the association were a body corporate.
 
    (4)  In proceedings for an offence brought against an unincorporated association--
    (a)  section 33 of the Criminal Justice Act 1925 and Schedule 3 to the Magistrates' Courts Act 1980 (procedure) apply as they do in relation to a body corporate;
    (b)  section 70 of the Criminal Procedure (Scotland) Act 1995 (procedure) applies as if the association were a body corporate;
    (c)  section 18 of the Criminal Justice (Northern Ireland) Act 1945 and Schedule 4 to the Magistrates' Courts Northern Ireland) Order 1981 (procedure) apply as they do in relation to a body corporate.
    (5)  Summary proceedings for an offence may be taken--
    (a)  against a body corporate or unincorporated association at any place at which it has a place of business;
    (b)  against an individual at any place where he is for the time being.
    (6)  Subsection (5) does not affect any jurisdiction exercisable apart from this section.
 
    (7)  Offence" means an offence under this Act.")
Jurisdiction and
procedure in
respect of
offences.
  
Clause 405
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 218, line 9, leave out ("any contract") and insert ("a contract if") 
     Page 218, line 10, at beginning insert ("it is") 
     Page 218, line 11, leave out paragraph (b) and insert--
    ("(b)  the entering into or performance of it by either party constitutes an activity of a specified kind or one which falls within a specified class of activity; and
    (c)  it relates to an investment of a specified kind or one which falls within a specified class of investment.
    (3)  Part II of Schedule 2 applies for the purposes of subsection (2)(c), with the references to section 20 being read as references to that subsection.
 
    (4)  Nothing in Part II of Schedule 2, as applied by subsection (3), limits the power conferred by subsection (2)(c).
 
    (5)  Investment" includes any asset, right or interest.
 
    (6)  Specified" means specified in an order made by the Treasury.")
 
  
Clause 407
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 220, line 3, leave out ("233(2)") and insert ("232") 
  
Clause 420
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 227, line 1, leave out subsection (1) and insert--
 
    ("(1)  The following provisions come into force on the passing of this Act--
    (a)  this section;
    (b)  sections 417, 419 and 422;
    (c)  paragraphs 1 and 2 of Schedule 20.")
 
  
Schedule 3
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 241, leave out lines 19 to 23 and insert--
 
    ("12.--(1)  Once an EEA firm which is seeking to establish a branch in the United Kingdom in exercise of an EEA right satisfies the establishment conditions, it qualifies for authorisation.
 
    (2)  Once an EEA firm which is seeking to provide services in the United Kingdom in exercise of an EEA right satisfies the service conditions, it")
 
     Page 244, line 19, leave out ("inform the firm concerned") and insert ("give written notice") 
     Page 244, line 20, at end insert ("to the firm concerned") 
     Page 245, line 14, leave out ("inform the firm concerned") and insert ("give written notice") 
     Page 245, line 15, at end insert ("to the firm concerned") 
     Page 245, line 39, leave out ("a person refused consent") and insert ("if the Authority decides to refuse consent, the firm concerned") 
  
Schedule 4
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 246, line 30, leave out paragraph 2 and insert--
 
    ("2.  Once a Treaty firm which is seeking to carry on a regulated activity satisfies the conditions set out in paragraph 3(1), it qualifies for authorisation.")
 
  
Schedule 9
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 253, line 7, at end insert--
 
    ("(  )  After paragraph 8 of that Schedule, insert--
 
 Meaning of "approved exchange" 
 
        9.  Approved exchange" has such meaning as may be prescribed."  ")
 
  
Schedule 13
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 267, line 13, at end insert--
    ("(  )  for the suspension of decisions of the Authority which have taken effect;")
 
  
Schedule 18
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 277, line 39, at end insert-- 
 ("PART IA 
 FRIENDLY SOCIETIES: SUBSIDIARIES AND CONTROLLED BODIEs 
 Interpretation 
     .  In this Part of this Schedule-- 
 
    the 1992 Act" means the Friendly Societies Act 1992; and
    section 13" means section 13 of that Act.
1992 c. 40.
 Qualifying bodies 
     .--(1)  Subsections (2) to (5) of section 13 (incorporated friendly societies allowed to form or acquire control or joint control only of qualifying bodies) cease to have effect.
 
    (2)  As a result, omit--
    (a)  subsections (8) and (11) of that section, and
    (b)  Schedule 7 to the 1992 Act (activities which may be carried on by a subsidiary of, or body jointly controlled by, an incorporated friendly society).
 
 Bodies controlled by societies 
     .  In section 13(9) (defined terms), after paragraph (a) insert--
      (aa)  an incorporated friendly society also has control of a body corporate if the body corporate is itself a body controlled in one of the ways mentioned in paragraph (a)(i), (ii) or (iii) by a body corporate of which the society has control;".
 
 Joint control by societies 
     .  In section 13(9), after paragraph (c) insert--
      (cc)  an incorporated friendly society also has joint control of a body corporate if--
            (i)  a subsidiary of the society has joint control of the body corporate in a way mentioned in paragraph (c)(i), (ii) or (iii);
            (ii)  a body corporate of which the society has joint control has joint control of the body corporate in such a way; or
            (iii)  the body corporate is controlled in a way mentioned in paragraph (a)(i), (ii) or (iii) by a body corporate of which the society has joint control;".
 
 Acquisition of joint control 
     .  In section 13(9), in the words following paragraph (d), after "paragraph (c)" insert "or (cc)". 
 Amendment of Schedule 8 to the 1992 Act 
     .--(1)  Schedule 8 to the 1992 Act (provisions supplementing section 13) is amended as follows.
 
    (2)  Omit paragraph 3(2).
 
    (3)  After paragraph 3 insert--
        3A.--(1)  A body is to be treated for the purposes of section 13(9) as having the right to appoint to a directorship if--
      (a)  a person's appointment to the directorship follows necessarily from his appointment as an officer of that body; or
      (b)  the directorship is held by the body itself.
        (2)  A body ("B") and some other person ("P") together are to be treated, for the purposes of section 13(9), as having the right to appoint to a directorship if--
      (a)  P is a body corporate which has directors and a person's appointment to the directorship follows necessarily from his appointment both as an officer of B and a director of P;
      (b)  P is a body corporate which does not have directors and a person's appointment to the directorship follows necessarily from his appointment both as an officer of B and as a member of P's managing body; or
      (c)  the directorship is held jointly by B and P.
        (3)  For the purposes of section 13(9), a right to appoint (or remove) which is exercisable only with the consent or agreement of another person must be left out of account unless no other person has a right to appoint (or remove) in relation to that directorship.
        (4)  Nothing in this paragraph is to be read as restricting the effect of section 13(9)."
    (4)  In paragraph 9 (exercise of certain rights under instruction by, or in the interests of, incorporated friendly society) insert at the end "or in the interests of any body over which the society has joint control".
 
 Consequential amendments 
     .--(1)  Section 52 of the 1992 Act is amended as follows.
 
    (2)  In subsection (2), omit paragraph (d).
 
    (3)  In subsection (3), for "(4) below" substitute "(2)".
 
    (4)  For subsection (4) substitute--
        (4)  A court may not make an order under subsection (5) unless it is satisfied that one or more of the conditions mentioned in subsection (2) are satisfied.
    (5)  In subsection (5), omit the words from "or, where" to the end.
 
 References in other enactments 
     .  References in any provision of, or made under, any enactment to subsidiaries of, or bodies jointly controlled by, an incorporated friendly society are to be read as including references to bodies which are such subsidiaries or bodies as a result of any provision of this Part of this Schedule.") 
  
Schedule 21
 
  
BY THE LORD McINTOSH OF HARINGEY
 
     Page 283, line 2, column 3, at beginning insert-- 
 ("In section 13, subsections (2) to (5), (8) and (11).") 
     Page 283, line 2, column 3, at end insert-- 
 
 ("In section 52, subsection (2)(d) and, in subsection (5), the words from "or where" to the end.Schedule 7.In Schedule 8, paragraph 3(2).") 
 
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