Financial Services Bill

Session 2012 - 13
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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
307

115
In section 950 (Panel on Takeovers and Mergers: duty of co-operation), in
subsection (1)—
(a)
for paragraph (a) substitute—
“(a)
the Financial Conduct Authority;
(aa)
the Prudential Regulation Authority;
5
(ab)
the Bank of England;”, and
(b)
in paragraph (c), for “Financial Services Authority” substitute
“Financial Conduct Authority or the Prudential Regulation
Authority or similar to the regulatory functions of the Bank of
England”.
10
116
In section 995 (petition by Secretary of State), in subsection (1)—
(a)
in paragraph (c), for “or the Financial Services Authority” substitute
“, the Financial Conduct Authority, the Prudential Regulation
Authority or the Bank of England”, and
(b)
in paragraph (d), for “or the Financial Services Authority” substitute
15
“, the Financial Conduct Authority, the Prudential Regulation
Authority or the Bank of England”.
117
In section 1164 (meaning of “banking company” and “banking group”), in
subsection (2), for “Part 4” substitute “Part 4A”.
118
In section 1165 (meaning of “insurance company” etc.), in subsection (2), for
20
“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
The Financial Conduct Authority.
25
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
Services Act 2012”,
30
(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
Authority”,
35
(d)
in paragraph 49, for paragraph (a) substitute—
“(a)
a decision of the Financial Conduct Authority;
(aa)
a decision of the Prudential Regulation
Authority;”.
      (4)
In Part 3, in paragraph 1(2), for “Financial Services Authority” substitute
40
“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.

Financial Services Bill
Schedule 18 — Further minor and consequential amendments
Part 2 — Amendments of other Acts of Parliament
308

      (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
5
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”,
10
(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;
15
(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.
      (2)
In section 64 (modification of functions of the Legal Services Board), in
20
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—
“(f)
the Financial Conduct Authority;
25
(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
“Financial Conduct Authority”.
30
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
Authority”, and
35
(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
money laundering) is amended as follows.
40
      (2)
In Part 5 (enforcement: information powers)—

Financial Services Bill
Schedule 18 — Further minor and consequential amendments
Part 2 — Amendments of other Acts of Parliament
309

(a)
in paragraph 18(1), for paragraph (a) substitute—
“(a)
The Financial Conduct Authority (“the
FCA”),
(b)
in paragraph 18(2), in both places, for “FSA” substitute “FCA”, and
(c)
in paragraph 21(7), for “FSA” substitute “FCA”.
5
      (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”.
      (4)
In Part 7 (enforcement: offences)—
(a)
in paragraph 33, in sub-paragraphs (1)(a) and (2)(a), for “FSA”
10
substitute “FCA”, and
(b)
in sub-paragraph (3) omit “by FSA”.
      (5)
In Part 8 (supplemental)—
(a)
in paragraph 39(2)(a) for “FSA” substitute “FCA”, and
(b)
in paragraph 41(1)—
15
(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”,
(c)
in the italic heading before paragraph 41, for “Financial Services
Authority” substitute “Financial Conduct Authority”, and
20
(d)
in paragraph 46, in the index of defined terms, for “the FSA”
substitute “the FCA”.
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”.
25
Corporation Tax Act 2010 (c. 4)
125   (1)
The Corporation Tax Act 2010 is amended as follows.
      (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-
30
authorised person for the purposes of the FISMA, the
Prudential Regulation Authority,
(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”.
35
      (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”.
      (4)
In section 1120 (meaning of “Bank”), in subsection (3), for “Part 4” substitute
“Part 4A”.
Finance Act 2010 (c. 13)
40
126
In Part 3 of Schedule 1 to the Finance Act 2010 (bank payroll tax: definitions),

Financial Services Bill
Schedule 18 — Further minor and consequential amendments
Part 2 — Amendments of other Acts of Parliament
310

in paragraph 45(14)—
(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
5
“Financial Conduct Authority or the Prudential Regulation
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,
10
business, finance etc”—
(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”.
15
Terrorist Asset-Freezing etc. Act 2010 (c. 38)
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
20
Authority”, and
(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
25
Act 2000;”.
      (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
In Part 3 of Schedule 10 to the Postal Services Act 2011 (conduct of postal
30
administration: modification of enactments), in paragraph 41(3), for
“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”.
35
Health and Social Care Act 2012 (c. 7)
131
In section 145 of the Health and Social Care Act 2012 (borrowing), in
subsection (3)(a), for “Part 4” substitute “Part 4A”.

Financial Services Bill
Schedule 18 — Further minor and consequential amendments
Part 4 — Amendments of Northern Ireland legislation
311

Legal Aid, Sentencing and Punishment of Offenders Act 2012 (c. 10)
132   (1)
The Legal Aid, Sentencing and Punishment of Offenders Act 2012 is
amended as follows.
      (2)
In section 57 (effect of rules against referral fees), in subsection (4), for
“Financial Services Authority” substitute “Financial Conduct Authority”.
5
      (3)
In section 58 (regulation by FSA)—
(a)
in subsections (1) and (3)(c) and (d), for “Financial Services
Authority” substitute “Financial Conduct Authority”, and
(b)
in the heading, for “FSA” substitute “FCA”.
      (4)
In section 59 (regulators and regulated persons)—
10
(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”
substitute “Financial Conduct Authority”.
Part 3
15
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
authorities about applications for a grant or loan), in subsection (5)(a), in the
definition of “commercial lender”, for “Part 4” substitute “Part 4A”.
20
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
25
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”
30
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”.
35
      (3)
In section 56 (powers in relation to English, Welsh and Scottish charities), in
subsection (7)(a), for “Part 4” substitute “Part 4A”.