Session 2010 - 12
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Other Bills before Parliament

Financial Services Bill


Financial Services Bill
Schedule 18 — Further minor and consequential amendments
Part 2 — Amendments of other Acts of Parliament

305

 

118        

In section 1165 (meaning of “insurance company” etc.), in subsection (2), for

“Part 4” substitute “Part 4A”.

119   (1)  

Schedule 2 (specified persons and descriptions of disclosure for the

purposes of section 948) is amended as follows.

      (2)  

In Part 1, in section (A) (United Kingdom), for paragraph 5 substitute—

5

“5         

The Financial Conduct Authority.

5A         

The Prudential Regulation Authority.”

      (3)  

In Part 2, in section (A) (United Kingdom)—

(a)   

in paragraph 11, for “paragraph 7 of Schedule 1 to the Financial

Services and Markets Act 2000” substitute “section 79 of the Financial

10

Services Act 2012”,

(b)   

in paragraph 12, for “section 15 of the Financial Services and Markets

Act 2000” substitute “section 65 of the Financial Services Act 2012”,

(c)   

in paragraph 37, for “Financial Services Authority” substitute

“Financial Conduct Authority or the Prudential Regulation

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Authority”,

(d)   

in paragraph 49, for paragraph (a) substitute—

“(a)   

a decision of the Financial Conduct Authority;

(aa)   

a decision of the Prudential Regulation

Authority;”.

20

      (4)  

In Part 3, in paragraph 1(2), for “Financial Services Authority” substitute

“Financial Conduct Authority or the Prudential Regulation Authority or

similar to the regulatory functions of the Bank of England”.

120   (1)  

Schedule 11A (specified persons, description, disclosures etc. for the

purposes of section 1224A) is amended as follows.

25

      (2)  

In Part 1, for paragraph 5 substitute—

“5         

The Financial Conduct Authority.

5A         

The Prudential Regulation Authority.”

      (3)  

In Part 2—

(a)   

in paragraph 28, for “paragraph 7 of Schedule 1 to the Financial

30

Services and Markets Act 2000” substitute “section 79 of the Financial

Services Act 2012”,

(b)   

in paragraph 29, for “section 15 of the Financial Services and Markets

Act 2000 (c. 8)” substitute “section 65 of the Financial Services Act

2012”,

35

(c)   

in paragraph 52, for “Financial Services Authority” substitute

“Financial Conduct Authority or the Prudential Regulation

Authority”, and

(d)   

in paragraph 71, for paragraph (a) substitute—

“(a)   

a decision of the Financial Conduct Authority;

40

(aa)   

a decision of the Prudential Regulation

Authority;”.

Legal Services Act 2007 (c. 29)

121   (1)  

The Legal Services Act 2007 is amended as follows.

 
 

Financial Services Bill
Schedule 18 — Further minor and consequential amendments
Part 2 — Amendments of other Acts of Parliament

306

 

      (2)  

In section 64 (modification of functions of the Legal Services Board), in

subsection (5), in the definition of “authorised insurer”, for “Part 4”

substitute “Part 4A”.

      (3)  

In section 169 (disclosure of information to the Legal Services Board), for

subsection (5)(f) substitute—

5

“(f)   

the Financial Conduct Authority;

(g)   

the Prudential Regulation Authority;

(h)   

the Bank of England.”

      (4)  

In section 195 (application of the Legal Profession and Legal Aid (Scotland)

Act 2007), in subsection (2)(e), for “Financial Services Authority” substitute

10

“Financial Conduct Authority”.

Regulatory Enforcement and Sanctions Act 2008 (c. 13)

122        

In Schedule 5 to the Regulatory Enforcement and Sanctions Act 2008

(Designated Regulators)—

(a)   

for “Financial Services Authority” substitute “Financial Conduct

15

Authority”, and

(b)   

after the entry for the Pensions Regulator insert—

“Prudential Regulation Authority”.

Counter-Terrorism Act 2008 (c. 28)

123   (1)  

Schedule 7 to the Counter-Terrorism Act 2008 (terrorist financing and

20

money laundering) is amended as follows.

      (2)  

In Part 5 (enforcement: information powers)—

(a)   

in paragraph 18(1), for paragraph (a) substitute—

“(a)   

The Financial Conduct Authority (“the

FCA”),

25

(b)   

in paragraph 18(2), in both places, for “FSA” substitute “FCA”, and

(c)   

in paragraph 21(7), for “FSA” substitute “FCA”.

      (3)  

In Part 6 (enforcement: civil penalties)—

(a)   

in paragraph 27(1), for “FSA” substitute “FCA”, and

(b)   

in paragraph 28(1), for “FSA” substitute “FCA”.

30

      (4)  

In Part 7 (enforcement: offences)—

(a)   

in paragraph 33, in sub-paragraphs (1)(a) and (2)(a), for “FSA”

substitute “FCA”, and

(b)   

in sub-paragraph (3) omit “by FSA”.

      (5)  

In Part 8 (supplemental)—

35

(a)   

in paragraph 39(2)(a) for “FSA” substitute “FCA”, and

(b)   

in paragraph 41(1)—

(i)   

for “Parts 1, 2 and 4 of Schedule 1” substitute ““Parts 1, 3 and

5 of Schedule 1ZA”, and

(ii)   

for “FSA” substitute “FCA”,

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(c)   

in the italic heading before paragraph 41, for “Financial Services

Authority” substitute “Financial Conduct Authority”, and

(d)   

in paragraph 46, in the index of defined terms, for “the FSA”

substitute “the FCA”.

 
 

Financial Services Bill
Schedule 18 — Further minor and consequential amendments
Part 2 — Amendments of other Acts of Parliament

307

 

Dormant Bank and Building Society Accounts Act 2008 (c. 31)

124        

In section 7 of the Dormant Bank and Building Society Accounts Act 2008

(meaning of “bank”), in subsection (2)(a), for “Part 4” substitute “Part 4A”.

Corporation Tax Act 2010 (c. 4)

125   (1)  

The Corporation Tax Act 2010 is amended as follows.

5

      (2)  

In section 161 (restricted right to dividends), in subsection (8), for paragraph

(a), and the “and” following it, substitute—

“(a)   

in relation to a dividend paid by a company that is a PRA-

authorised person for the purposes of the FISMA, the

Prudential Regulation Authority,

10

(aa)   

in relation to a dividend paid by a company that is authorised

for the purposes of the FISMA but does not fall within

paragraph (a), the Financial Conduct Authority, and”.

      (3)  

In section 635 (application of Chapter 6 of Part 13: banks etc. in compulsory

liquidation), in subsection (2)(a), for “Part 4” substitute “Part 4A”.

15

      (4)  

In section 1120 (meaning of “Bank”), in subsection (3), for “Part 4” substitute

“Part 4A”.

Finance Act 2010 (c. 13)

126        

In Part 3 of Schedule 1 to the Finance Act 2010 (bank payroll tax: definitions),

in paragraph 45(14)—

20

(a)   

for paragraph (a) and the “or” following it, substitute—

“(a)   

the Financial Conduct Authority,

(aa)   

the Prudential Regulation Authority, or”, and

(b)   

in paragraph (b), for “Financial Services Authority” substitute

“Financial Conduct Authority or the Prudential Regulation

25

Authority”.

Equality Act 2010 (c. 15)

127        

In Part 1 of Schedule 19 to the Equality Act 2010 (public authorities subject

to the public sector equality duty), under the italic heading “Industry,

business, finance etc”—

30

(a)   

for “The Financial Services Authority” substitute “The Financial

Conduct Authority”, and

(b)   

after the entry for the Office of Communications insert—

“The Prudential Regulation Authority”.

Terrorist Asset-Freezing etc. Act 2010 (c. 38)

35

128   (1)  

The Terrorist Asset-Freezing etc Act 2010 is amended as follows.

      (2)  

In section 23 (general power to disclose information), in subsection (1)—

(a)   

in paragraph (e), for “Financial Services Authority” substitute

“Financial Conduct Authority, the Prudential Regulation

Authority”, and

40

 
 

Financial Services Bill
Schedule 18 — Further minor and consequential amendments
Part 3 — Amendment of Act of the Scottish Parliament

308

 

(b)   

after that paragraph insert—

“(ea)   

to the Bank of England, for the purpose of enabling or

assisting the Bank to exercise any powers conferred

on it by or under the Financial Services and Markets

Act 2000;”.

5

      (3)  

In section 41 (meaning of “relevant institution”), in subsection (1)(a), for

“Part 4” substitute “Part 4A”.

Postal Services Act 2011 (c. 5)

129        

Part 3 of Schedule 10 to the Postal Services Act 2011 (conduct of postal

administration: modification of enactments), in paragraph 41(3), for

10

“administration applications by FSA” substitute “administration order”.

Charities Act 2011 (c. 25)

130        

In section 109 of the Charities Act 2011 (dormant bank account:

supplementary), in subsection (3), for “Part 4” substitute “Part 4A”.

Health and Social Care Act 2012 (c. )

15

131        

In section 141 of the Health and Social Care Act 2012 (borrowing), in

subsection (3)(a), for “Part 4” substitute “Part 4A”.

Legal Aid, Sentencing and Punishment of Offenders Act 2012 (c. )

132   (1)  

The Legal Aid, Sentencing and Punishment of Offenders Act 2012 is

amended as follows.

20

      (2)  

In section 55 (effect of rule against referral fees), in subsection (4), for

“Financial Services Authority” substitute “Financial Conduct Authority”.

      (3)  

In section 56 (regulation by the FSA)—

(a)   

in subsections (1) and (3)(c) and (d), for “Financial Services

Authority” substitute “Financial Conduct Authority”, and

25

(b)   

in the heading, for “FSA” substitute “FCA”.

      (4)  

In section 57 (regulators and regulated persons)—

(a)   

in subsection (1), in the Table, for “Financial Services Authority”

substitute “Financial Conduct Authority”, and

(b)   

in subsection (2), in the Table, for “Financial Services Authority”

30

substitute “Financial Conduct Authority”.

Part 3

Amendment of Act of the Scottish Parliament

Housing (Scotland) Act 2006 (asp 1)

133        

In section 75 of the Housing (Scotland) Act 2006 (determination by local

35

authorities about applications for a grant or loan), in subsection (5)(a), in the

definition of “commercial lender”, for “Part 4” substitute “Part 4A”.

 
 

Financial Services Bill
Schedule 18 — Further minor and consequential amendments
Part 4 — Amendments of Northern Ireland legislation

309

 

Part 4

Amendments of Northern Ireland legislation

County Courts Act (Northern Ireland) 1959 (c. 25 (N.I.))

134        

In section 127A of the County Courts Act (Northern Ireland) 1959 (voluntary

contributions to judicial pension scheme), in subsection (7), in the definition

5

of “authorised provider”, for “Part 4” substitute “Part 4A”.

District Judges (Magistrates’ Courts) Pensions Act (Northern Ireland) 1960 (c. 2 (N.I.))

135        

In section 9A of the District Judges (Magistrates’ Courts) Pensions Act

(Northern Ireland) 1960 (voluntary contributions under the judicial pension

scheme), in subsection (7), in the definition of “insurer”, for “Part 4”

10

substitute “Part 4A”.

Charities Act (Northern Ireland) 2008 (c. 12 (N.I.))

136   (1)  

The Charities Act (Northern Ireland) 2008 is amended as follows.

      (2)  

In section 48 (power to give directions about dormant bank accounts of

charities), in subsection (8)(b)(i), for “Part 4” substitute “Part 4A”.

15

      (3)  

In section 56 (powers in relation to English, Welsh and Scottish charities), in

subsection (7)(a), for “Part 4” substitute “Part 4A”.

 
 

 
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Revised 23 March 2012