|
|
| |
| |
|
| |
| |
| New Amendments handed in are marked thus  |
|
| Amendments which will comply with the required notice period at their next appearance
|
|
| |
| |
| | The Amendments have been arranged in accordance with the Order of the |
|
| | Committee [21 February 2012]. |
|
| |
| |
| |
| | |
| Clause 48, page 132, line 4, leave out ‘to the FCA and the PRA’ and insert ‘the |
|
| Registrar of Companies or to the FCA, the PRA and the Registrar of Companies’. |
|
| |
| |
| |
| |
| | |
| Clause 54, page 134, line 2, at end insert— |
|
| | ‘(3) | The first case requires the Bank of England, FPC, FCA or PRA to provide the |
|
| | Treasury or the Secretary of State with an early warning of the possibility that a |
|
| | notification of a material risk to public funds may be given, and full information |
|
| | about the circumstances.’. |
|
| |
| |
| |
| | |
| Clause 54, page 134, line 3, leave out ‘first’ and insert ‘second’. |
|
|
|
| |
| |
|
| |
| |
| |
| | |
| Clause 54, page 134, line 5, at end insert ‘or where there is a risk to relevant |
|
| markets functioning well, fairly, efficiently and transparently.’. |
|
| |
| |
| |
| | |
| Clause 54, page 134, line 6, leave out ‘second’ and insert ‘third’. |
|
| |
| |
| |
| | |
| Clause 54, page 134, line 7, after ‘England,’, insert ‘FPC, FCA,’. |
|
| |
| | |
| Clause 54, page 134, line 7, after ‘PRA’ insert ‘, the FCA’. |
|
| |
| |
| |
| | |
| Clause 54, page 134, line 13, after ‘Bank,’, insert ‘the FPC, the FCA,’. |
|
| |
| | |
| Clause 54, page 134, line 13, after ‘PRA’ insert ‘, the FCA’. |
|
| |
| |
| |
| | |
| Clause 54, page 134, line 15, leave out ‘third’ and insert ‘fourth’. |
|
| |
| |
| | |
| Clause 56, page 135, line 14, after ‘PRA’ insert ‘, the FCA’. |
|
| |
|
|
| |
| |
|
| |
| |
| |
| | |
| Clause 58, page 136, line 22, leave out from ‘Bank’ to ‘give’ and insert ‘must’. |
|
| |
| |
| |
| |
| | |
| Clause 61, page 137, line 23, after ‘PRA’, insert ‘and the FCA’. |
|
| |
| |
| |
| | |
| Clause 61, page 137, line 29, at end insert ‘which must include risks which |
|
| significantly impact upon the safety and soundness of PRA-authorised persons, or which |
|
| put at risk relevant markets functioning well.’. |
|
| |
| |
| |
| | |
| Clause 61, page 137, line 31, after ‘PRA’, insert ‘and the FCA’. |
|
| |
| |
| |
| | |
| Clause 61, page 137, line 35, after ‘PRA’, insert ‘and the FCA’. |
|
| |
| |
| | |
| Clause 61, page 137, line 36, at end insert ‘and set out draft standing orders of an |
|
| ad hoc Stability Committee’. |
|
| |
| |
| | |
| Clause 61, page 137, line 40, at end insert ‘and ensure that the Governor and all |
|
| Bank of England Deputy Governors and the Chief Executive of the FCA may consult with |
|
| |
| |
| |
| |
| | |
| Clause 61, page 137, line 42, after ‘PRA’, insert ‘and the FCA’. |
|
|
|
| |
| |
|
| |
| |
| |
| | |
| Clause 61, page 138, leave out lines 2 and 3. |
|
| |
| |
| |
| | |
| Clause 61, page 138, line 4, after ‘PRA’, insert ‘and the FCA’. |
|
| |
| |
| |
| | |
| Clause 61, page 138, line 9, leave out paragraph (a). |
|
| |
| |
| |
| | |
| Clause 61, page 138, leave out lines 13 to 17 and insert— |
|
| | ‘(7) | The memorandum is a measure prescribed by the Treasury by order which shall |
|
| | not be made unless a draft of the order has been laid before and approved by |
|
| | resolution of each House of Parliament.’. |
|
| |
| |
| |
| | |
| Clause 69, page 142, line 34, at end insert— |
|
| | ‘(4A) | Any direction under subsection (4) must be laid before Parliament and |
|
| | |
| |
| |
| |
| | |
| Clause 70, page 143, line 42, at end add— |
|
| | ‘(5A) | Any direction under subsection (5) must be laid before Parliament and |
|
| | |
| |
|
|
| |
| |
|
| |
| |
| | |
| Clause 74, page 145, line 42, at end insert— |
|
| | ‘(6A) | Any direction under subsection (5) or (6) must be laid before Parliament and |
|
| | |
| |
| |
| |
| | |
| Clause 77, page 146, leave out line 39 to line 25 on page 147 and insert— |
|
| | ‘(2) | The Treasury may publish the whole, or any part, of the report and may do so in |
|
| | such manner as it considers appropriate. |
|
| | (3) | The Treasury must prevent publication of any part of the report which it considers |
|
| | |
| | (a) | which relates to the affairs of a particular person whose interests would, |
|
| | in the opinion of the Treasury, be seriously prejudiced by publication of |
|
| | |
| | (b) | the disclosure of which would be incompatible with an international |
|
| | obligation of the United Kingdom. |
|
| | (4) | The Treasury must lay before each House of Parliament a copy of any report or |
|
| | part of a report published under subsection (2) subject to the provisions of |
|
| | |
| |
| |
| | |
| Clause 80, page 148, line 37, leave out ‘312J or 345D of FSMA 2000, or’ and |
|
| insert ‘or 312J of FSMA 2000, |
|
| | ( ) | section 345D of FSMA 2000 (whether as a result of section |
|
| | 345(2) or 345A(3) or section 249(1) of that Act), or’. |
|
| |
| |
| | |
| Schedule 18, page 284, line 7, at end insert— |
|
| | ‘8A(1) | Section 249 (disqualification of auditor for breach of trust scheme rules) is |
|
| | |
| | (2) | In subsection (1) for the words from “it may” to the end substitute “it may do |
|
| | one or more of the following— |
|
| | (a) | disqualify the auditor from being the auditor of any authorised |
|
| | unit trust scheme or authorised open-ended investment |
|
| | |
| | (b) | publish a statement to the effect that it appears to the FCA that |
|
| | the auditor has failed to comply with the duty; |
|
|
|
| |
| |
|
| | (c) | impose on the auditor a penalty, payable to the FCA, of such |
|
| | amount as the FCA considers appropriate.” |
|
| | (3) | For subsection (2) substitute— |
|
| | “(2) | Sections 345B to 345E have effect in relation to the taking of action |
|
| | under subsection (1) as they have effect in relation to the taking of |
|
| | action under section 345(2).” |
|
| | (4) | For the heading substitute “Disciplinary measures”’. |
|
| |
| | |
| Schedule 18, page 284, line 43, at end insert— |
|
| | ‘( ) | in the heading, for “Authority’s” substitute “FCA’s”.’. |
|
| |
| | |
| Schedule 18, page 285, line 18, leave out ‘“section 44 or 45 of a Part IV |
|
| permission”’ and insert ‘paragraph (a)’. |
|
| |
| | |
| Schedule 18, page 285, line 26, leave out from ‘Part IV’ to end of line 27 and insert |
|
| |
| |
| | |
| Schedule 18, page 285, line 41, leave out from beginning to ‘subsection’ in line 2 |
|
| on page 286 and insert ‘In section 409 (Gibraltar), in’. |
|
| |
| |
| | |
| Schedule 20, page 311, line 22, leave out paragraphs 6 and 7 and insert— |
|
| | ‘5A | In relation to the first order under section 9K of the Bank of England Act 1998, |
|
| | subsection (2) of that section (which relates to consultation) does not apply. |
|
| | 5B (1) | This paragraph applies where a provision of Part 5 or 6 of this Act, or an |
|
| | amendment of FSMA 2000 made by any provision of this Act, imposes on the |
|
| | FCA, the PRA or the Bank of England, in connection with the making or |
|
| | issuing of any rules or other instrument or document— |
|
| | (a) | a public consultation requirement, or |
|
| | (b) | a requirement (however expressed) to consult particular persons. |
|
| | (2) | The requirement may be satisfied— |
|
| | (a) | by things done (wholly or in part) before the commencement of the |
|
| | provision in question or the passing of this Act, and |
|
| | (b) | by things done by the Financial Services Authority or the Bank of |
|
| | England or by both of them. |
|
| | (3) | “Public consultation requirement” means a requirement (however expressed) |
|
| | to publish a draft of the instrument or other document with or without other |
|
| | material and to invite representations about it. |
|
|
|
| |
| |
|
| | 5C (1) | The first order under section 22A of FSMA 2000 may, if it imposes on the PRA |
|
| | a public consultation requirement in relation to any statement of policy |
|
| | required by the order to be prepared by the PRA, provide that in relation to the |
|
| | first statement of policy the requirement may be satisfied— |
|
| | (a) | by things done (wholly or in part) before the commencement of the |
|
| | order or the passing of this Act, and |
|
| | (b) | by things done by the Financial Services Authority or the Bank of |
|
| | England or by both of them. |
|
| | (2) | “Public consultation requirement” has the same meaning as in paragraph 5B.’. |
|
| |
| |
| | |
| |
| |
| |
| |
| | |
| To move the following Clause:— |
|
| | ‘The FCA shall bring forward recommendations within a year of the |
|
| | commencement of this Act to phase out the practice of directly charging |
|
| | consumers fees or charges for the provision of debt management plans.’. |
|
| |
| | Depositor preference in insolvency |
|
| |
| |
| | |
| To move the following Clause:— |
|
| | ‘The Treasury shall bring forward regulations to ensure FSCS insured deposits |
|
| | are moved above other unsecured creditors and above floating charge holders in |
|
| | the creditor hierarchy in the event of insolvency or any imposition of losses in |
|
| | |
| |
|