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

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Clause 407
 
  
BY THE LORD McINTOSH OF HARINGEY
 
217     Page 219, line 16, at end insert ("(except in provisions relating to the Competition Commission)") 
218     Page 219, line 17, at end insert--
    (""control of information rules" has the meaning given in section (Control of information)(1):")
 
  
BY THE LORD SAATCHI
THE LORD KINGSLAND
 
218A     Page 219, line 31, at end insert ("or 322 (1)") 
  
BY THE LORD McINTOSH OF HARINGEY
 
219     Page 220, line 3, leave out ("233(2)") and insert ("232") 
  
Clause 412
 
  
BY THE LORD SAATCHI
THE LORD KINGSLAND
 
219A     Page 223, line 8, after ("Act") insert (", other than Part XII,") 
219B     Page 223, line 29, leave out ("holding shares in an undertaking ("C") or") 
219C     Page 223, line 31, leave out ("another undertaking ("D")") and insert (", or holding shares in, an undertaking ("C"),") 
219D     Page 223, line 45, leave out ("or D") 
219E     Page 224, line 1, leave out ("or D") 
219F     Page 224, line 19, at end insert--
 
    ("(  )  An agreement or arrangement is not within subsection (4)(g) above if the agreement or arrangement is for one person ("X") to acquire, hold or dispose of shares or other interests as agent or nominee on behalf of another person ("Y") without X being able to exercise, or control the exercise of, voting rights otherwise than at the direction of Y.")
 
  
After Clause 416
 
  
    
 
220     [Withdrawn] 
  
BY THE LORD McINTOSH OF HARINGEY
 
220A     Insert the following new Clause-- 
     (".--(1) Subsections (2) and (3) apply to an order under section 416 which makes transitional provisions or savings.
 
    (2)  The order may, in particular--
    (a)  if it makes provision about the authorisation and permission of persons who before commencement were entitled to carry on any activities, also include provision for such persons not to be treated as having any authorisation or permission (whether on an application to the Authority or otherwise);
    (b)  make provision enabling the Authority to require persons of such descriptions as it may direct to re-apply for permissions having effect by virtue of the order;
    (c)  make provision for the continuation as rules of such provisions (including primary and subordinate legislation) as may be designated in accordance with the order by the Authority, including provision for the modification by the Authority of provisions designated;
    (d)  make provision about the effect of requirements imposed, liabilities incurred and any other things done before commencement, including provision for and about investigations, penalties and the taking or continuing of any other action in respect of contraventions;
    (e)  make provision for the continuation of disciplinary and other proceedings begun before commencement, including provision about the decisions available to bodies before which such proceedings take place and the effect of their decisions;
    (f)  make provision as regards the Authority's obligation to maintain a record under section 342 as respects persons in relation to whom provision is made by the order.
    (3)  The order may--
    (a)  confer functions on the Treasury, the Secretary of State, the Authority, the scheme manager, the scheme operator, members of the panel established under paragraph 4 of Schedule 17, the Competition Commission or the Director General of Fair Trading;
    (b)  confer jurisdiction on the Tribunal;
    (c)  provide for fees to be charged in connection with the carrying out of functions conferred under the order;
    (d)  modify, exclude or apply (with or without modifications) any primary or subordinate legislation (including any provision of, or made under, this Act).
    (4)  In subsection (2) "commencement" means the commencement of such provisions of this Act as may be specified by the order.")
Transitional provisions.
  
Clause 417
 
  
BY THE LORD McINTOSH OF HARINGEY
 
220B     Page 225, line 35, leave out from ("make") to ("is") in line 36 and insert ("an order which is conferred on the Treasury by this Act and any power to make regulations which is conferred by this Act") 
  
After Clause 417
 
  
BY THE LORD NEWBY
THE LORD SHARMAN
THE LORD SAATCHI
THE LORD KINGSLAND
 
221     Insert the following new Clause-- 
     (".--(1)  The Treasury must publish a draft of any regulations or orders proposed to be made under this Act in the way appearing to them to be best calculated to bring it to the attention of the public.
 
    (2)  The draft must be accompanied by--
    (a)  an explanation of the purpose of the proposed regulations or order; and
    (b)  notice that representations about the proposals may be made to the Treasury within a specified time.
    (3)  Before making the proposed regulations or order, the Treasury must publish an account in general terms of--
    (a)  the representations made to them in accordance with subsection (2)(b); and
    (b)  their response to them.
    (4)  If the regulations or order made by the Treasury differ from the draft published under subsection (1) in a way which is, in the opinion of the Treasury, significant, the Treasury must (in addition to complying with subsection (3)) publish details of the differences.
 
    (5)  Subsections (1) to (4) do not apply if the Treasury consider that the delay involved in complying with them would be prejudicial to the interests of consumers.")
Consultation on draft regulations and orders.
  
Clause 418
 
  
BY THE LORD McINTOSH OF HARINGEY
 
222     Page 226, line 3, after ("232(5)") insert (", (Schemes for reviewing past business)") 
223     Page 226, line 19, at end insert--
    ("(  )  it varies a previous order made under section 19(5) so as to make section 19(1) apply in circumstances in which it did not, as a result of that previous order, apply;")
 
224     Page 226, line 21, after ("19(9)") insert ("or (9A)") 
225     Page 226, line 23, at end insert ("; or
    (  )  it adds one or more investments to those which are controlled investments for the purposes of section 19")
 
  
Clause 420
 
  
BY THE LORD McINTOSH OF HARINGEY
 
226     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.")
 
  
Before Schedule 19
 
  
BY THE LORD McINTOSH OF HARINGEY
 
226YA     Insert the following new Schedule-- 
 ("SCHEDULE 
 COMPETITION INFORMATION 
 PART I 
 PERSONS AND FUNCTIONS FOR THE PURPOSES OF SECTION (COMPETITION INFORMATION) 
     1. The Table set out after this paragraph has effect for the purposes of section (Competition information)(3)(b). 
 TABLE 
 
PersonFunction
  
1. The Commission.Any function of the Commission under Community law relating to competition.
2. The Comptroller and Auditor General.Any function of his.
3. A Minister of the Crown.Any function of his under a specified enactment.
4. Director General of Telecommunications.Any function of his under a specified enactment.
5. Director General of Gas SupplyAny function of his under a specified enactment
6. The Director General of Gas for Northern Ireland.Any function of his under a specified enactment.
7. The Director General of Electricity Supply.Any function of his under a specified enactment.
8. The Director General of Electricity Supply for Northern Ireland.Any function of his under a specified enactment.
9. The Director General of Water Services.Any function of his under a specified enactment.
10. The Civil Aviation Authority.Any function of that authority under a specified enactment.
11. The Rail Regulator.Any function of his under a specified enactment.
12. The Director General of Fair Trading.Any function of his under a specified enactment.
13. The Competition Commission.Any function of the Competition Commission under a specified enactment.
14. The Authority.Any function of the Authority under a specified enactment.
15. A person of a description specified in an order made by the Treasury.Any function of his which is specified in the order.
 
 PART II 
 THE ENACTMENTs 
     1. The Fair Trading Act 19731973 c. 41.
     2. The Consumer Credit Act 19741974 c. 39.
     3. The Estate Agents Act 19791979 c. 38.
     4. The Competition Act 19801980 c. 21.
     5. The Telecommunications Act 19841984 c. 12.
     6. The Airports Act 19861986 c. 31.
     7. The Gas Act 19861986 c. 45.
     8. The Control of Misleading Advertisements Regulations 1988S.I. 1988/915.
     9. The Electricity Act 19891989 c. 29.
     10. The Broadcasting Act 19901990 c. 42.
     11. The Water Industry Act 19911991 c. 56.
     12. The Electricity (Northern Ireland) Order 1992S.I. 1992/231
(N.I. 1).
     13. The Railways Act 19931993 c. 43.
     14. Part IV of the Airports (Northern Ireland) Order 1994S.I. 1994/426
(N.I. 1).
     15. The Gas (Northern Ireland) Order 1996S.I. 1996/275
(N.I. 2).
     16. The EC Competition (Articles 88 and 89) Enforcement Regulations 1996S.I. 1996/2199.
     17. The Unfair Terms in Consumer Contracts Regulations 1999
 
    18. This Act.
 
    19. An enactment specified for the purposes of this paragraph in an order made by the Treasury.")
S.I. 1999/2083.
  
Schedule 19
 
  
BY THE LORD McINTOSH OF HARINGEY
 
226ZA     Page 279, line 10, at end insert-- 
 ("The Civil Jurisdiction and Judgments Act 1982 (c. 27) 
     . In paragraph 10 of Schedule 5 to the Civil Jurisdiction and Judgments Act 1982 (proceedings excluded from the operation of Schedule 4 to that Act), for "section 188 of the Financial Services Act 1986" substitute "section (Jurisdiction in civil proceedings) of the Financial Services and Markets Act 2000".") 
  
Schedule 21
 
  
BY THE LORD HUNT OF WIRRAL
 
226A     Page 282, line 12, at end insert-- 
 
"1923 c. 8.The Industrial Assurance Act 1923.The whole Act.
1948 c. 39.The Industrial Assurance and Friendly Societies Act 1948.")The whole Act.
 
  
BY THE LORD McINTOSH OF HARINGEY
 
227     Page 283, line 2, column 3, at beginning insert-- 
 
  ("In section 13, subsections (2) to (5), (8) and (11).")
 
228     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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