Financial Services and Markets Bill - continued        House of Lords

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SCHEDULE 7
 
  THE AUTHORITY AS COMPETENT AUTHORITY FOR PART VI
 
General
     1. This Act applies in relation to the Authority when it is exercising functions under Part VI as the competent authority subject to the following modifications.
 
 
The Authority's general functions
     2. In section 2-
 
 
    (a) subsection (4)(a) does not apply to listing rules;
 
    (b) subsection (4)(c) does not apply to general guidance given in relation to Part VI; and
 
    (c) subsection (4)(d) does not apply to functions under Part VI.
 
Duty to consult
     3. Section 7 does not apply.
 
 
Rules
     4. - (1) Sections 144, 148, 149 and 151 do not apply.
 
      (2) Section 150 has effect as if-
 
 
    (a) the reference in subsection (2)(c) to the general duties of the Authority under section 2 were a reference to its duty under section 71; and
 
    (b) section 96 were included in the provisions referred to in subsection (9).
 
Statements of policy
     5. - (1) Paragraph 5 of Schedule 1 has effect as if the requirement to act through the Authority's governing body applied also to the exercise of its functions of publishing statements under section 90.
 
      (2) Paragraph 1 of Schedule 1 has effect as if section 90 were included in the provisions referred to in sub-paragraph (2)(d).
 
 
Penalties
     6. Paragraph 16 of Schedule 1 does not apply in relation to penalties under Part VI (for which separate provision is made by section 97).
 
 
Fees
     7. Paragraph 17 of Schedule 1 does not apply in relation to fees payable under Part VI (for which separate provision is made by section 96).
 
 
Exemption from liability in damages
     8. Schedule 1 has effect as if paragraph 19 were omitted (similar provision being made in relation to the competent authority by section 99).
 
 
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