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

back to previous amendments
 
  
Clause 163
 
  
BY THE LORD McINTOSH OF HARINGEY
 
66     Page 85, line 23, leave out from ("under") to end of line 27 and insert ("prescribed regulations relating to money laundering;") 
  
Clause 169
 
  
BY THE LORD SAATCHI
THE LORD KINGSLAND
 
67     Page 89, line 23, leave out ("a") and insert ("that") 
68     Page 89, line 23, at end insert ("or to disciplinary measures taken against that person under Part XIV") 
  
Clause 180
 
  
BY THE LORD McINTOSH OF HARINGEY
 
69     Page 96, line 41, leave out ("refusal") and insert ("decision to refuse") 
  
Clause 197
 
  
BY THE LORD McINTOSH OF HARINGEY
 
70     Leave out Clause 197 
  
After Clause 197
 
  
BY THE LORD McINTOSH OF HARINGEY
 
71     Insert the following new Clause-- 
     (".--(1) Contravention of a requirement imposed by the Authority under this Part does not--
    (a)  make a person guilty of an offence;
    (b)  make any transaction void or unenforceable; or
    (c)  (subject to subsection (2)) give rise to any right of action for breach of statutory duty.
    (2)  In prescribed cases the contravention is actionable at the suit of a person who suffers loss as a result of the contravention, subject to the defences and other incidents applying to actions for breach of statutory duty.")
Contravention of requirement imposed under this Part.
  
Clause 208
 
  
BY THE LORD McINTOSH OF HARINGEY
 
72     Page 111, line 26, leave out ("qualified for authorisation under Schedule 3 at that time") and insert (", at that time--
    (a)  qualified for authorisation under Schedule 3, and
    (b)  fell within a prescribed category,")
 
  
Clause 209
 
  
BY THE LORD McINTOSH OF HARINGEY
 
73     Page 112, line 20, after ("3") insert (", and
    (b)  falls within a prescribed category,")
 
  
Clause 210
 
  
BY THE LORD HUNT OF WIRRAL
 
74*     Page 112, leave out lines 35 to 37 and insert--
    ("(  )  as to the effect of a payment of compensation under the scheme in relation to rights or obligations arising out of the claim against a relevant person in respect of which the payment was made;")
 
  
Clause 211
 
  
BY THE LORD McINTOSH OF HARINGEY
 
75     Page 113, line 34, leave out ("carry on long-term insurance business") and insert ("have permission to effect or carry out contracts of long-term insurance") 
76     Page 113, line 39, leave out from first ("of") to ("to") in line 40 and insert ("a relevant long-term insurer's business so far as it consists of the carrying out of contracts of long-term insurance, or of any part of that business,") 
  
Clause 212
 
  
BY THE LORD McINTOSH OF HARINGEY
 
77     Page 114, line 18, leave out ("carry on insurance business") and insert ("have permission to effect or carry out contracts of insurance") 
78     Page 114, line 22, leave out from first ("of") to ("to") in line 23 and insert ("a relevant insurer's business so far as it consists of the carrying out of contracts of insurance, or of any part of that business,") 
79     Page 114, line 25, leave out ("insurance business") and insert ("to effect or carry out contracts of insurance") 
  
Clause 219
 
  
BY THE LORD McINTOSH OF HARINGEY
 
80     Page 118, line 9, leave out ("qualified for authorisation under Schedule 3 at that time") and insert (", at that time--
    (a)  qualified for authorisation under Schedule 3, and
    (b)  fell within a prescribed category,")
 
  
Clause 224
 
  
BY THE LORD McINTOSH OF HARINGEY
 
81     Page 121, line 23, leave out from ("for") to ("of") in line 26 and insert ("--
    (a)  financial loss; or
    (b)  any other loss, or any damage,")
 
  
Clause 233
 
  
BY THE LORD SAATCHI
THE LORD KINGSLAND
 
82     Page 126, line 3, after ("communicate") insert ("to a person in the United Kingdom") 
  
Clause 293
 
  
BY THE LORD McINTOSH OF HARINGEY
 
83*     Page 157, line 41, leave out from ("decision") to ("and") in line 42 
  
After Clause 294
 
  
BY THE LORD McINTOSH OF HARINGEY
 
84     Insert the following new Clause-- 
     (".--(1) If the Treasury are satisfied that the condition mentioned in subsection (2) is satisfied, they may by order confer functions on the Tribunal with respect to disciplinary proceedings--
    (a)  of one or more investment exchanges in relation to which a recognition order under section 285 is in force or of such investment exchanges generally, or
    (b)  of one or more clearing houses in relation to which a recognition order under that section is in force or of such clearing houses generally.
    (2)  The condition is that it is desirable to exercise the power conferred under subsection (1) with a view to ensuring that--
    (a)  decisions taken in disciplinary proceedings with respect to which functions are to be conferred on the Tribunal are consistent with--
          (i)  decisions of the Tribunal in cases arising under Part VIII; and
          (ii)  decisions taken in other disciplinary proceedings with respect to which the Tribunal has functions as a result of an order under this section; or
    (b)  the disciplinary proceedings are in accordance with the Convention rights.
    (3)  An order under this section may modify or exclude any provision made by or under this Act with respect to proceedings before the Tribunal.
 
    (4)  Disciplinary proceedings" means proceedings under the rules of an investment exchange or clearing house in relation to market abuse by persons subject to the rules.
Extension of functions of Tribunal.
     (5)  The Convention rights" has the meaning given in section 1 of the Human Rights Act 1998.")1998 c. 42.
  
After Clause 316
 
  
BY THE LORD McINTOSH OF HARINGEY
 
85     Insert the following new Clause-- 
 ("Transfers of business done at Lloyds 
     . The Treasury may by order provide for the application of any provision of Part VII (with or without modification) in relation to schemes for the transfer of the whole or any part of the business carried on by one or more members of the Society or former underwriting members.")Transfer schemes.
  
Clause 321
 
  
BY THE LORD HUNT OF WIRRAL
 
86     Page 175, line 15, after ("rights") insert ("or interests") 
87     Page 175, line 16, leave out ("or which may be adversely affected by,") 
88     Page 175, line 16, at end insert ("any") 
89     Page 175, line 17, at end insert ("; or
    (c)  persons who have rights or interests which may be adversely affected by the use of any such services by persons acting on their behalf or in a fiduciary capacity in relation to them.")
 
  
Clause 327
 
  
BY THE LORD McINTOSH OF HARINGEY
 
90     Page 178, line 30, after ("in") insert ("or determined in accordance with") 
  
Clause 328
 
  
BY THE LORD McINTOSH OF HARINGEY
 
91     Page 178, line 38, after ("Societies") insert (", or of an assistant registrar of friendly societies for the central registration area,") 
92     Page 178, line 40, leave out ("functions of the Registrar") and insert ("of their functions") 
93     Page 179, line 11, at end insert--
    ("(  )  the office of assistant registrar of friendly societies for the central registration area,")
 
94     Page 179, line 14, after ("in") insert (", or determined in accordance with,") 
  
Clause 329
 
  
BY THE LORD McINTOSH OF HARINGEY
 
95     Page 179, line 24, after ("in") insert (", or determined in accordance with,") 
  
Clause 330
 
  
BY THE LORD McINTOSH OF HARINGEY
 
96     Page 179, line 28, after ("in") insert (", or determined in accordance with,") 
  
Clause 332
 
  
BY THE LORD McINTOSH OF HARINGEY
 
97     Page 180, line 9, at end insert--
    ("(  )  for the transfer of any functions of a member of the body, or servant or agent of the body or person, whose functions are transferred by the order;")
 
98     Page 180, line 29, at end insert--
    ("(  )  for the carrying on and completion by or under the authority of such person as may be specified in the order of any proceedings, investigations or other matters commenced, before the order takes effect, by or under the authority of the person whose office, or the body which, ceases to exist as a result of the order;")
 
99     Page 180, line 32, leave out ("or the substitution of the Treasury") and insert (", the Treasury or such other body as may be specified in the order") 
100     Page 180, line 34, at end insert--
 
    ("(  )  On or after the making of an order under any of sections 327 to 331 ("the original order"), the Treasury may by order make any incidental, supplemental, consequential or transitional provision which they had power to include in the original order.")
 
  
Clause 340
 
  
BY THE LORD McINTOSH OF HARINGEY
 
101*     Page 185, line 29, after ("trust"") insert ("scheme"") 
  
Clause 348
 
  
BY THE LORD McINTOSH OF HARINGEY
 
102     Page 191, line 1, at end insert--
 
    ("(  )  In this Part "insurer" has such meaning as may be specified in an order made by the Treasury.")
 
  
Clause 353
 
  
BY THE LORD McINTOSH OF HARINGEY
 
103     Page 192, line 31, leave out ("insurance companies") and insert ("insurers") 
104     Page 192, line 35, leave out ("insurance companies") and insert ("insurers") 
  
Clause 358
 
  
BY THE LORD McINTOSH OF HARINGEY
 
105     Page 194, line 24, leave out from ("an") to end of line 25 and insert ("insurer effecting or carrying out contracts of long-term insurance") 
 
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