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Financial Services BillPage 350

(2) In subsections (1) and (1A), for “Authority” substitute “appropriate
regulator”.

(3) In subsection (4), for “Authority” substitute “appropriate regulator”.

(4) At the end insert—

(7) 5The appropriate regulator”—

(a) in relation to a recognised investment exchange or a
recognised overseas investment exchange, means the FCA,
and

(b) in relation to a recognised clearing house or a recognised
10overseas clearing house, means the Bank of England.

67 (1) Section 167 (application to determine whether default proceedings to be
taken) is amended as follows.

(2) In subsections (1B), (3) (in both places), (4) and (5) (in both places), for
“Authority” substitute “appropriate regulator”.

(3) 15At the end insert—

(6) The appropriate regulator”—

(a) in relation to a responsible investment exchange, means the
FCA, and

(b) in relation to a responsible clearing house, means the Bank of
20England.

68 (1) Section 169 (supplementary provisions) is amended as follows.

(2) In subsection (3A), for paragraph (b) and the “and” before it, substitute—

(b) in the case of a UK investment exchange, the FCA, and

(c) in the case of a UK clearing house, the Bank of England.

(3) 25In subsection (5), for “or the Authority” substitute “, the FCA or the Bank of
England”.

69 (1) Section 176 (power to make provision about certain charges) is amended as
follows.

(2) In subsection (2)—

(a) 30in paragraph (b), for “Authority” substitute “Bank of England”, and

(b) in paragraph (d), for “Part 4” substitute “Part 4A”.

(3) In subsection (6)—

(a) for “Authority”, in the first place, substitute “Bank of England”, and

(b) for “Authority”, in the second place, substitute “FCA”.

70 (1) 35Section 190 (minor definitions) is amended as follows.

(2) Omit the definition of “the Authority”.

(3) After the definition of “charge” insert—

(4) After the definition of “overseas” insert—

71 (1) Section 191 (index of defined expressions) is amended as follows.

Financial Services BillPage 351

(2) Omit the entry relating to “the Authority”.

(3) After the entry relating to “designated non-member” insert—

the FCA Section 190(1)

(4) After the entry relating to “permanent trustee” insert—

the PRA 5Section 190(1)

Water Industry Act 1991 (c. 56)Water Industry Act 1991 (c. 56)

72 In section 206 of the Water Industry Act 1991 (restriction on disclosure of
information), in subsection (3)(e), for “or the Financial Services Authority”
substitute “, the Financial Conduct Authority, the Prudential Regulation
10Authority or the Bank of England”.

Water Resources Act 1991 (c. 57)Water Resources Act 1991 (c. 57)

73 In section 204 of the Water Resources Act 1991 (restriction on disclosure of
information), in subsection (2)(e), for “or the Financial Services Authority”
substitute “, the Financial Conduct Authority, the Prudential Regulation
15Authority or the Bank of England”.

Social Security Administration Act 1992 (c. 5)Social Security Administration Act 1992 (c. 5)

74 (1) The Social Security Administration Act 1992 is amended as follows.

(2) In section 15A (payment out of benefit of sums in respect of mortgage
interest), in subsection (4), in the definitions of “deposit taker” and “insurer”,
20for “Part 4” substitute “Part 4A”.

(3) In section 109B (power to require information), in subsection (7), in the
definitions of “bank” and “insurer”, for “Part IV” substitute “Part 4A”.

Judicial Pensions and Retirement Act 1993 (c. 8)Judicial Pensions and Retirement Act 1993 (c. 8)

75 (1) The Judicial Pensions and Retirement Act 1993 is amended as follows.

(2) 25In section 10 (additional benefits from voluntary contributions), in
subsection (8), in the definitions of “authorised provider” and “insurer”, for
“Part 4” substitute “Part 4A”.

(3) In Part 1 of Schedule 2 (transfer of accrued benefits: interpretation), in
paragraph 1, in the definition of “authorised insurer”, for “Part 4” substitute
30“Part 4A”.

Criminal Justice Act 1993 (c. 36)Criminal Justice Act 1993 (c. 36)

76 In Schedule 1 to the Criminal Justice Act 1993 (special defences), in
paragraph 5(2), for “section 144(1)” substitute “section 137P”.

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Railways Act 1993 (c. 43)Railways Act 1993 (c. 43)

77 (1) The Railways Act 1993 is amended as follows.

(2) In section 145 (restrictions on disclosure of information), in subsection (2)(c),
for “or the Financial Services Authority” substitute “, the Financial Conduct
5Authority or the Prudential Regulation Authority”.

(3) In section 151 (general interpretation), in subsection (1), in the definition of
“securities”, for “section 74(5)” substitute “section 102A(2)”.

Pension Schemes Act 1993 (c. 48)Pension Schemes Act 1993 (c. 48)

78 (1) The Pension Schemes Act 1993 is amended as follows.

(2) 10In section 149 (procedure on an investigation by the Pensions Ombudsman),
in subsection (6)—

(a) for paragraph (e) substitute—

(e) the Financial Conduct Authority,

(ea) the Prudential Regulation Authority,

(eb) 15the Bank of England,, and

(b) in paragraph (o), for “a body corporate established in accordance
with paragraph 2(1)” substitute “the body corporate mentioned in
paragraph 2”.

(3) In section 158A (disclosures by the Secretary of State), in subsection (1), in
20the Table, for the entry relating to the Financial Services Authority
substitute—

The Financial Conduct Authority Any of its functions.
The Prudential Regulation Authority Any of its functions..

(4) In section 180A (insurer and long-term insurance business), in subsection
25(1)(a), for “Part 4” substitute “Part 4A”.

(5) In section 185 (duty to consult before making regulations)—

(a) in subsection (7), for “the Financial Services Authority” substitute
“the appropriate regulator”, and

(b) after that subsection insert—

(7A) 30The appropriate regulator” means—

(a) where the group insurance business to which the
regulations relate consists only of activities which are
PRA-regulated activities, the Prudential Regulation
Authority,

(b) 35where the group insurance business to which the
regulations relate consists partly of activities which
are PRA-regulated activities and partly of other
regulated activities, the Prudential Regulation
Authority and the Financial Conduct Authority, or

(c) 40in any other case, the Financial Conduct Authority.

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(7B) In subsection (7A) “regulated activities” and “PRA-regulated
activities” have the same meaning as in the Financial Services
and Markets Act 2000.

Finance Act 1994 (c. 9)Finance Act 1994 (c. 9)

79 (1) 5The Finance Act 1994 is amended as follows.

(2) In Schedule 7 (insurance premium tax), in paragraph 28B—

(a) in sub-paragraph (1)—

(i) for “the Financial Services Authority (“the Authority”)”
substitute “a regulator”, and

(ii) 10for “assisting the Authority” substitute “assisting the
regulator”, and

(b) in sub-paragraph (2)—

(i) for “the Authority”, in the first place, substitute “a regulator”,
and

(ii) 15for “the Authority”, in the second place, substitute “the
regulator”.

(c) after that sub-paragraph insert—

(3) In this paragraph “regulator” means—

(a) the Financial Conduct Authority;

(b) 20the Prudential Regulation Authority.

(3) In Schedule 24 (provisions relating to the Railways Act 1993), in paragraph
19(7), in the definition of “securities”, for “section 74(5)” substitute “section
102A(2)”.

Coal Industry Act 1994 (c. 21)Coal Industry Act 1994 (c. 21)

80 25In section 59 of the Coal Industry Act 1994 (information to be kept
confidential), in subsection (3)(b), for “and the Financial Services Authority”
substitute “, the Financial Conduct Authority and the Prudential Regulation
Authority”.

Value Added Tax Act 1994 (c. 23)Value Added Tax Act 1994 (c. 23)

81 30In Part 2 of Schedule 9 to the Value Added Tax Act 1994 (exemptions:
groups), in Group 5 (finance), in Note (6), in the definitions of “closed-ended
collective investment undertaking” and “individually recognised overseas
scheme”, for “Financial Services Authority” substitute “Financial Conduct
Authority”.

35Pensions Act 1995 (c. 26)Pensions Act 1995 (c. 26)

82 (1) The Pensions Act 1995 is amended as follows.

(2) In section 49 (responsibilities of trustees etc.), in subsection (8A)(a), for “Part
4” substitute “Part 4A”.

(3) In section 172 (information about public service schemes), in subsection
40(1)(a), for “section 150” substitute “section 138D”.

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Finance Act 1997 (c. 16)Finance Act 1997 (c. 16)

83 In section 96 of the Finance Act 1997 (demutualisation of insurance
companies), in subsection (8), in the definition of “general insurance
company”, for “Part 4” substitute “Part 4A”.

5Social Security (Recovery of Benefits) Act 1997 (c. 27)Social Security (Recovery of Benefits) Act 1997 (c. 27)

84 In Part 1 of Schedule 1 to the Social Security (Recovery of Benefits) Act 1997
(compensation payments: exempted payments), in paragraph 5(2)(a), for
“Part 4” substitute “Part 4A”.

Bank of England Act 1998 (c. 11)Bank of England Act 1998 (c. 11)

85 (1) 10The Bank of England Act 1998 is amended as follows.

(2) In section 17 (power to obtain information), in subsections (3D) and (7)(a),
for “Part 4” substitute “Part 4A”.

(3) Omit—

(a) section 21 and the italic heading before it;

(b) 15section 23(2);

(c) section 24 and the italic heading before it.

(4) In Schedule 2 (cash ratio deposits), in paragraph 1(1A)(c), for “Part 4”
substitute “Part 4A”.

(5) In Schedule 7 (restriction on disclosure of information), in paragraph 3, in
20the Table—

(a) for “Financial Services Authority” substitute “Financial Conduct
Authority or the Prudential Regulation Authority”, and

(b) omit the entry relating to the competent authority for the purposes
of Part 6 of the Financial Services Act 2000.

25Data Protection Act 1998 (c. 29)Data Protection Act 1998 (c. 29)

86 In Schedule 7 to the Data Protection Act 1998 (miscellaneous exemptions), in
paragraph 6(3), in the definition of “relevant person”, in paragraph (a), for
“Part IV” substitute “Part 4A”.

Terrorism Act 2000 (c. 11)Terrorism Act 2000 (c. 11)

87 (1) 30The Terrorism Act 2000 is amended as follows.

(2) In Part 2 of Schedule 3A (supervisory authorities), in paragraph 4(1)—

(a) for paragraph (c) substitute—

(c) the Financial Conduct Authority;, and

(b) after paragraph (e) insert—

(ea) 35the Prudential Regulation Authority;.

(3) In Schedule 6 (financial information), in paragraph 6(1)(a), for “Part 4”
substitute “Part 4A”.

Regulation of Investigatory Powers Act 2000 (c. 23)Regulation of Investigatory Powers Act 2000 (c. 23)

88 In Part 1 of Schedule 1 to the Regulation of Investigatory Powers Act 2000

Financial Services BillPage 355

(relevant authorities), for paragraph 19 substitute—

19 The Financial Conduct Authority.

19A The Prudential Regulation Authority.

Utilities Act 2000 (c. 27)Utilities Act 2000 (c. 27)

89 5In section 105 of the Utilities Act 2000 (general restriction on disclosure of
information), in subsection (4)(da), for “or the Financial Services Authority”
substitute “, the Financial Conduct Authority, the Prudential Regulation
Authority or the Bank of England”.

Trustee Act 2000 (c. 29)2000 (c. 29)

90 (1) 10Section 29 of the Trustee Act 2000 (remuneration of certain trustees) is
amended as follows.

(2) In subsection (3)—

(a) for “an authorised institution under the Banking Act 1987” substitute
“a deposit taker”, and

(b) 15for “institution’s” substitute “deposit taker’s”.

(3) After that subsection insert—

(3A) In subsection (3), “deposit taker” means—

(a) a person who has permission under Part 4A of the Financial
Services and Markets Act 2000 to accept deposits, or

(b) 20an EEA firm of the kind mentioned in paragraph 5(b) of
Schedule 3 to that Act which has permission under
paragraph 15 of that Schedule (as a result of qualifying for
authorisation under paragraph 12(1) of that Schedule) to
accept deposits.

(3B) 25A reference in subsection (3A) to a person or firm with permission to
accept deposits does not include a person or firm with permission to
do so only for the purposes of, or in the course of, carrying on
another regulated activity in accordance with that permission.

(3C) Subsections (3A) and (3B) must be read with—

(a) 30section 22 of the Financial Services and Markets Act 2000,

(b) any relevant order under that section, and

(c) Schedule 2 to that Act..

Freedom of Information Act 2000 (c. 36)2000 (c. 36)

91 In Part 6 of Schedule 1 to the Freedom of Information Act 2000 (other public
35bodies and offices: general)—

(a) omit the entry relating to the Financial Services Authority, and

(b) at the appropriate place in each case insert—

Financial Services BillPage 356

Criminal Justice and Police Act 2001 (c. 16)Criminal Justice and Police Act 2001 (c. 16)

92 In section 57 of the Criminal Justice and Police Act 2001 (retention of seized
items), in subsection (1)(o), for “section 176(8)” substitute “section 176A”.

Anti-terrorism, Crime and Security Act 2001 (c. 24)Anti-terrorism, Crime and Security Act 2001 (c. 24)

93 5In Part 5 of Schedule 1 to the Anti-terrorism, Crime and Security Act 2001
(property earmarked as terrorist property), in paragraph 16(6)—

(a) for “Financial Services Authority under” substitute “Financial
Conduct Authority, the Prudential Regulation Authority or the Bank
of England under or by virtue of”, and

(b) 10omit “of authority”.

Proceeds of Crime Act 2002 (c. 29)Proceeds of Crime Act 2002 (c. 29)

94 (1) The Proceeds of Crime Act 2002 is amended as follows.

(2) In section 282 (exemptions), in subsection (3)—

(a) for “Financial Services Authority” substitute “Financial Conduct
15Authority or the Prudential Regulation Authority”, and

(b) for “the authority” substitute “it”.

(3) In section 308 (general exceptions), in subsection (7)(a)—

(a) for “Financial Services Authority under” substitute “Financial
Conduct Authority, the Prudential Regulation Authority or the Bank
20of England under or by virtue of”, and

(b) omit “of authority”.

(4) In Part 2 of Schedule 9 (supervisory authorities), in paragraph 4(1)—

(a) for paragraph (c) substitute—

(c) Financial Conduct Authority; and

(b) 25after paragraph (e) insert—

(ea) Prudential Regulation Authority;.

Enterprise Act 2002 (c. 40)Enterprise Act 2002 (c. 40)

95 (1) The Enterprise Act 2002 is amended as follows.

(2) In section 213 (enforcers), in subsection (5A)(c), for “Financial Services
30Authority” substitute “Financial Conduct Authority”.

(3) In Schedule 14 (specified functions), in the entry relating to the Financial
Services and Markets Act 2000, for “Chapter 3 of Part 10 and Chapter 2 of
Part 18” substitute “Chapter 4 of Part 9A”.

Nationality, Immigration and Asylum Act 2002 (c. 41)Nationality, Immigration and Asylum Act 2002 (c. 41)

96 35In section 135 of the Nationality, Immigration and Asylum Act 2002
(financial institution to provide information), in subsection (2)(a), for “Part
4” substitute “Part 4A”.

Income Tax (Earnings and Pensions) Act 2003 (c. 1)Income Tax (Earnings and Pensions) Act 2003 (c. 1)

97 (1) The Income Tax (Earnings and Pensions) Act 2003 is amended as follows.

Financial Services BillPage 357

(2) In Part 4 of Schedule 2 (approved share incentive plans: types of shares that
may be awarded), in paragraph 30(3)—

(a) for “competent authority for listing” substitute “Financial Conduct
Authority”, and

(b) 5for “section 74(4)” substitute “section 73A”.

(3) In Part 4 of Schedule 3 (approved SAYE option schemes: applicable shares),
in paragraph 21(5)—

(a) for “competent authority for listing” substitute “Financial Conduct
Authority”, and

(b) 10for “section 74(4)” substitute “section 73A”.

(4) In Part 4 of Schedule 4 (approved CSOP schemes: applicable shares), in
paragraph 19(5)—

(a) for “competent authority for listing” substitute “Financial Conduct
Authority”, and

(b) 15 for “section 74(4)” substitute “section 73A”.

Finance Act 2003 (c. 14)Finance Act 2003 (c. 14)

98 In section 63 of the Finance Act 2003 (demutualisation of insurance
company), in subsection (7), in the definition of “general insurance
company”, for “Part 4” substitute “Part 4A”.

20Health and Social Care (Community Health and Standards) Act 2003 (c. 43)Health and Social Care (Community Health and Standards) Act 2003 (c. 43)

99 In Schedule 10 to the Health and Social Care (Community Health and
Standards) Act 2003 (recovery of NHS charges (exempted payments)), in
paragraph 4(2)(a), for “Part 4” substitute “Part 4A”.

Finance Act 2004 (c. 12)Finance Act 2004 (c. 12)

100 25In Part 1 of Schedule 28 to the Finance Act 2004 (pension rules), in paragraph
14(3)(a), for Financial Services Authority” substitute “Financial Conduct
Authority or the Prudential Regulation Authority”.

Energy Act 2004 (c. 20)Energy Act 2004 (c. 20)

101 In Part 4 of Schedule 20 to the Energy Act 2004 (modifications of Insolvency
30Act 1986), in paragraph 42(3), for “administration applications by Financial
Services Authority” substitute “administration order”.

Fire and Rescue Services Act 2004 (c. 21)Fire and Rescue Services Act 2004 (c. 21)

102 In section 35 of the Fire and Rescue Services Act 2004 (provision of
information in connection with pensions), in subsection (2)(a), for “section
35150” substitute “section 138D”.

Companies (Audit, Investigations and Community Enterprise) Act 2004 (c. 27)Companies (Audit, Investigations and Community Enterprise) Act 2004 (c. 27)

103 In section 14 of the Companies (Audit, Investigations and Community
Enterprise) Act 2004 (supervision of accounts and reports of issuers of listed
securities), in subsections (2)(b) and (7)(b), for “Financial Services Authority”
40substitute “Financial Conduct Authority”.

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Pensions Act 2004 (c. 35)Pensions Act 2004 (c. 35)

104 (1) The Pensions Act 2004 is amended as follows.

(2) In section 115 (borrowing), in subsection (3), in the definition of “deposit-
taker”, for “Part 4” substitute “Part 4A”.

(3) 5In Schedule 3 (disclosure of restricted information by the Pensions
Regulator), in the Table—

(a) for the entry relating to the Financial Services Authority substitute—

The Financial Conduct Authority Any of its functions.
The Prudential Regulation Authority Any of its functions., and

(b) 10in the entry relating to a member of the panel appointed under
paragraph 4 of Schedule 17 to the Financial Services and Markets Act
2000, for “established by” substitute “mentioned in”.

(4) In Schedule 8 (disclosure of restricted information by the Board of the
Pension Protection Fund), in the Table—

(a) 15for the entry relating to the Financial Services Authority substitute—

The Financial Conduct Authority Any of its functions.
The Prudential Regulation Authority Any of its functions., and

(b) in the entry relating to a member of the panel appointed under
paragraph 4 of Schedule 17 to the Financial Services and Markets Act
202000, for “established by” substitute “mentioned in”.

Inquiries Act 2005 (c. 12)Inquiries Act 2005 (c. 12)

105 In section 23 of the Inquiries Act 2005 (risk of damage to the economy), in
subsection (1), for “Financial Services Authority” substitute “Financial
Conduct Authority, the Prudential Regulation Authority”.

25Serious Organised Crime and Police Act 2005 (c. 15)Serious Organised Crime and Police Act 2005 (c. 15)

106 (1) Section 71 of the Serious Organised Crime and Police Act 2005 (immunity
from prosecution) is amended as follows.

(2) In subsection (4), for paragraph (da) substitute—

(da) the Financial Conduct Authority;

(daa) 30the Prudential Regulation Authority;

(dab) the Bank of England, where the indictable offence or offence
triable either way which is being investigated or prosecuted
is an offence under the Financial Services and Markets Act
2000;.

(3) 35In subsection (6A), for “Financial Services Authority” substitute “Financial
Conduct Authority, the Prudential Regulation Authority, the Bank of
England”.

Financial Services BillPage 359

(4) For subsection (6B) substitute—

(6B) Paragraph 8(1) of Schedule 1ZA and paragraph 16(1) of Schedule
1ZB to the Financial Services and Markets Act 2000 (arrangements
for discharging functions) do not apply to the exercise of the powers
5conferred on the Financial Conduct Authority or the Prudential
Regulation Authority under this Chapter.

(6BA) Paragraph 11 of Schedule 1 to the Bank of England Act 1998 (power
to delegate) does not apply to the exercise of the powers conferred on
the Bank of England under this Chapter.

(5) 10In subsection (6C)—

(a) for “Financial Services Authority” substitute “Financial Conduct
Authority, the Prudential Regulation Authority, the Bank of
England”, and

(b) for “either of them” substitute “any of them”.

15Gambling Act 2005 (c. 19)Gambling Act 2005 (c. 19)

107 In Part 2 of Schedule 6 to the Gambling Act 2005 (exchange of information:
enforcement and regulatory bodies)—

(a) omit the entry “The Financial Services Authority”, and

(b) at the appropriate place in each case insert—

Finance (No. 2) Act 2005 (c. 22)Finance (No. 2) Act 2005 (c. 22)

108 In section 18 of the Finance (No. 2) Act 2005 (regulations under section 17),
in subsection (3)(a), for “Financial Services Authority” substitute “Financial
25Conduct Authority”.

Compensation Act 2006 (c. 29)Compensation Act 2006 (c. 29)

109 (1) Section 3 of the Compensation Act 2006 (mesothelioma: damages) is
amended as follows.

(2) In subsection (8)—

(a) 30omit paragraph (a), and

(b) in paragraph (f), for “Financial Services Authority” substitute
“Financial Conduct Authority or the Prudential Regulation
Authority”.

(3) Omit subsection (9).

35Companies Act 2006 (c. 46)Companies Act 2006 (c. 46)

110 The Companies Act 2006 is amended as follows.

111 In section 384 (companies excluded from small companies regime), in
subsection (2)(c), for “Part 4” substitute “Part 4A”.

112 (1) Section 461 (permitted disclosure of information obtained under
40compulsory powers) is amended as follows.

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