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| Clause 40, page 124, line 32, leave out ‘a’ and insert ‘an independent and |
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| Clause 40, page 125, line 6, leave out ‘given in section 1G’ and insert ‘any natural |
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| person who is acting for purposes which are outside his trade, business, craft or |
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| Schedule 15, page 270, line 37, leave out ‘to the Treasury’. |
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| Clause 47, page 130, line 36, at end insert— |
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| | ‘(f) | providing for any function of the FSA in respect of the Registry of |
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| | Friendly Societies to be transferred to a registrar established at the |
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| | Registrar of Companies.’. |
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| Clause 47, page 131, line 1, leave out ‘both the FCA and PRA’ and insert ‘the |
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| Registry of Friendly Societies established at the Registrar of Companies or to any of the |
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| FCA and PRA and the Registry of Friendly Societies at the Registrar of Companies’. |
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| Clause 48, page 132, line 4, leave out ‘to the FCA and the PRA’ and insert ‘the |
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| Registrar of Companies or to the FCA, the PRA and the Registrar of Companies’. |
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| Clause 54, page 134, line 7, after ‘PRA’ insert ‘, the FCA’. |
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| Clause 54, page 134, line 13, after ‘PRA’ insert ‘, the FCA’. |
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| Clause 56, page 135, line 14, after ‘PRA’ insert ‘, the FCA’. |
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| Clause 77, page 146, leave out line 39 to line 25 on page 147 and insert— |
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| | ‘(2) | The Treasury may publish the whole, or any part, of the report and may do so in |
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| | such manner as it considers appropriate. |
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| | (3) | The Treasury must prevent publication of any part of the report which it considers |
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| | (a) | which relates to the affairs of a particular person whose interests would, |
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| | in the opinion of the Treasury, be seriously prejudiced by publication of |
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| | (b) | the disclosure of which would be incompatible with an international |
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| | obligation of the United Kingdom. |
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| | (4) | The Treasury must lay before each House of Parliament a copy of any report or |
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| | part of a report published under subsection (2) subject to the provisions of |
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| Clause 80, page 148, line 37, leave out ‘312J or 345D of FSMA 2000, or’ and |
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| insert ‘or 312J of FSMA 2000, |
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| | ( ) | section 345D of FSMA 2000 (whether as a result of section |
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| | 345(2) or 345A(3) or section 249(1) of that Act), or’. |
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| Schedule 18, page 284, line 7, at end insert— |
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| | ‘8A(1) | Section 249 (disqualification of auditor for breach of trust scheme rules) is |
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| | (2) | In subsection (1) for the words from “it may” to the end substitute “it may do |
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| | one or more of the following— |
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| | (a) | disqualify the auditor from being the auditor of any authorised |
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| | unit trust scheme or authorised open-ended investment |
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| | (b) | publish a statement to the effect that it appears to the FCA that |
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| | the auditor has failed to comply with the duty; |
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| | (c) | impose on the auditor a penalty, payable to the FCA, of such |
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| | amount as the FCA considers appropriate.” |
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| | (3) | For subsection (2) substitute— |
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| | “(2) | Sections 345B to 345E have effect in relation to the taking of action |
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| | under subsection (1) as they have effect in relation to the taking of |
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| | action under section 345(2).” |
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| | (4) | For the heading substitute “Disciplinary measures”’. |
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| Schedule 18, page 284, line 43, at end insert— |
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| | ‘( ) | in the heading, for “Authority’s” substitute “FCA’s”.’. |
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| Schedule 18, page 285, line 18, leave out ‘“section 44 or 45 of a Part IV |
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| permission”’ and insert ‘paragraph (a)’. |
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| Schedule 18, page 285, line 26, leave out from ‘Part IV’ to end of line 27 and insert |
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| Schedule 18, page 285, line 41, leave out from beginning to ‘subsection’ in line 2 |
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| on page 286 and insert ‘In section 409 (Gibraltar), in’. |
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| Schedule 20, page 311, line 22, leave out paragraphs 6 and 7 and insert— |
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| | ‘5A | In relation to the first order under section 9K of the Bank of England Act 1998, |
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| | subsection (2) of that section (which relates to consultation) does not apply. |
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| | 5B (1) | This paragraph applies where a provision of Part 5 or 6 of this Act, or an |
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| | amendment of FSMA 2000 made by any provision of this Act, imposes on the |
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| | FCA, the PRA or the Bank of England, in connection with the making or |
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| | issuing of any rules or other instrument or document— |
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| | (a) | a public consultation requirement, or |
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| | (b) | a requirement (however expressed) to consult particular persons. |
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| | (2) | The requirement may be satisfied— |
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| | (a) | by things done (wholly or in part) before the commencement of the |
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| | provision in question or the passing of this Act, and |
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| | (b) | by things done by the Financial Services Authority or the Bank of |
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| | England or by both of them. |
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| | (3) | “Public consultation requirement” means a requirement (however expressed) |
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| | to publish a draft of the instrument or other document with or without other |
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| | material and to invite representations about it. |
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| | 5C (1) | The first order under section 22A of FSMA 2000 may, if it imposes on the PRA |
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| | a public consultation requirement in relation to any statement of policy |
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| | required by the order to be prepared by the PRA, provide that in relation to the |
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| | first statement of policy the requirement may be satisfied— |
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| | (a) | by things done (wholly or in part) before the commencement of the |
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| | order or the passing of this Act, and |
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| | (b) | by things done by the Financial Services Authority or the Bank of |
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| | England or by both of them. |
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| | (2) | “Public consultation requirement” has the same meaning as in paragraph 5B.’. |
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| To move the following Clause:— |
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| | ‘The FCA shall bring forward recommendations within a year of the |
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| | commencement of this Act to phase out the practice of directly charging |
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| | consumers fees or charges for the provision of debt management plans.’. |
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| | Depositor preference in insolvency |
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| To move the following Clause:— |
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| | ‘The Treasury shall bring forward regulations to ensure FSCS insured deposits |
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| | are moved above other unsecured creditors and above floating charge holders in |
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| | the creditor hierarchy in the event of insolvency or any imposition of losses in |
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| | Building Society Investors Special Provisions: Members or depositors dying |
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| To move the following Clause:— |
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| | ‘(1) | Schedule 7 of the Building Societies Act 1986 is amended as follows: |
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| | “(2) | In paragraph 1(1) for “£5,000” substitute “£15,000” and in paragraph |
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| | 1(4) for “£5,000” substitute “£15,000”.’. |
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| | Order of the House [6 FEBRUARY] |
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| | That the following provisions shall apply to the Financial Services Bill— |
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| | 1. | The Bill shall be committed to a Public Bill Committee. |
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| | Proceedings in Public Bill Committee |
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| | 2. | Proceedings in the Public Bill Committee shall (so far as not previously |
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| | concluded) be brought to a conclusion on Tuesday 20 March 2012. |
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| | 3. | The Public Bill Committee shall have leave to sit twice on the first day on |
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| | Consideration and Third Reading |
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| | 4. | Proceedings on Consideration shall (so far as not previously concluded) be |
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| | brought to a conclusion one hour before the moment of interruption on the |
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| | day on which those proceedings are commenced. |
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| | 5. | Proceedings on Third Reading shall (so far as not previously concluded) be |
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| | brought to a conclusion at the moment of interruption on that day. |
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| | 6. | Standing Order No. 83B (Programming committees) shall not apply to |
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| | proceedings on Consideration and Third Reading. |
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| | 7. | Any other proceedings on the Bill (including any proceedings on |
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| | consideration of any further message from the Lords) may be programmed. |
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| | Order of the Committee [21 February 2012] |
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| | (1) | the Committee shall (in addition to its first meeting at 10.30 am on Tuesday |
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| | (a) | at 4.00 pm on Tuesday 21 February; |
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| | (b) | at 9.30 am and 1.00 pm on Thursday 23 February; |
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| | (c) | at 10.30 am and 4.00 pm on Tuesday 28 February; |
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| | (d) | at 9.30 am and 1.00 pm on Thursday 1 March; |
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| | (e) | at 10.30 am and 4.00 pm on Tuesday 6 March; |
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| | (f) | at 9.30 am and 1.00 pm on Thursday 8 March; |
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| | (g) | at 9.30 am and 1.00 pm on Thursday 15 March; |
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| | (h) | at 4.00 pm on Tuesday 20 March; |
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| | (i) | at 9.30 am on Thursday 22 March. |
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| | (2) | the proceedings shall be taken in the following order: Clauses 1 to 3; |
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| | Schedule 1; Clause 4; Schedule 2; Clause 5; Schedule 3; Clauses 6 to 10; |
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| | Schedule 4; Clauses 11 to 13; Schedule 5; Clauses 14 to 20; Schedule 6; |
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| | Clauses 21 to 27; Schedule 7; Clauses 28 to 32; Schedule 8; Clauses 33 and |
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| | 34; Schedule 9; Clause 35; Schedule 10; Clause 36; Schedule 11; Clauses 37 |
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| | and 38; Schedule 12; Clause 39; Schedule 13; Clauses 40 and 41; Schedule |
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| | 14; Clause 42; Schedule 15; Clause 43; Schedule 16; Clauses 44 to 90; |
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| | Schedule 17; Clauses 91 to 94; Schedules 18 and 19; Clauses 95 to 99; |
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| | Schedules 20 and 21; Clauses 100 to 103; new Clauses; new Schedules; |
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| | remaining proceedings on the Bill. |
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| | (3) | the proceedings shall (so far as not previously concluded) be brought to a |
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| | conclusion at 10.25 am on Thursday 22 March. |
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