| Amendments proposed to the Financial Services and Markets Bill - continued | House of Commons |
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Mr David Heathcoat-Amory 78 *Clause 18, page 8, line 17, after 'But', insert 'unless the Authority directs otherwise in any particular case'.
Mr David Heathcoat-Amory 79 *Clause 18, page 8, line 19, after 'of', insert 'or results from,'.
Mr David Heathcoat-Amory 80 *Clause 19, page 8, line 29, leave out 'capable of having an effect in the United Kingdom' and insert 'addressed to a United Kingdom person'.
Mr David Heathcoat-Amory 81 *Clause 19, page 8, line 33, after 'apply', insert 'and, in the case of oral communications such circumstances shall, except as otherwise expressly provided in the order, include the making of a communication which has not been solicited by the person receiving it or by any person acting on his behalf.'.
Mr David Heathcoat-Amory 82 *Clause 19, page 8, line 33, after 'apply', insert 'and what constitutes approval of the content of communications in particular circumstances'.
Mr David Heathcoat-Amory 83 *Clause 19, page 9, line 8, at end add—'(10) "United Kingdom person" means, in the case of an individual, a person physically in the United Kingdom or, in the case of any other person, a branch or other place of business in the United Kingdom of that person.'.
Mr David Heathcoat-Amory 84 *Clause 19, page 9, line 8, at end add—'(11) A communication is addressed to a person if it is directed at or made available to or is capable of being seen, heard or (subject to subsection (12)) otherwise accessed by that person.'.
Mr David Heathcoat-Amory 85 *Clause 19, page 9, line 8, at end add—'(12) Communications on the Internet which are not directed at United Kingdom persons shall not be regarded as addressed to them if access by them to the communication has not been solicited by a communication addressed to a United Kingdom person.'.
NEW CLAUSESMaintenance of competition and promotion of United Kingdom competitiveness
Mr David Heathcoat-Amory NC1 To move the following Clause:—'.—The maintenance of competition and promotion of United Kingdom competitiveness objective referred to in section 2(2)(e) is: regulating in a way which does not unnecessarily impede competition in financial services and markets in the United Kingdom or by any category of authorised participants and which seeks to secure a regulatory regime in the United Kingdom which provides a competitive advantage internationally'.
Duty of Treasury to maintain competition and competitiveness
Mr David Heathcoat-Amory NC2 To move the following Clause:—'.—When deciding what regulations or orders the Treasury should make under this Act, or what other powers or discretions the Treasury should exercise under this Act, the Treasury must seek to meet the maintenance of competition and competitiveness objective and must have regard to the considerations set out in section 2(3) (c) and (d)'.
Improving the quality of investments
Dr Vincent Cable NC3 To move the following Clause:—'.—(1) The improving the quality of investments objective is: improving the quality of investments of a specific kind arranged by authorised persons in the course of carrying on regulated activities. (2) It includes, in particular—
Duty of Treasury to consult practitioners and consumers
Mr David Heathcoat-Amory NC4 *To move the following Clause:—'(2) The Treasury must make and maintain effective arrangements for consulting practitioners and consumers on the extent to which any regulations or orders proposed to be made by it under this Act are consistent with its duties under section (Duty of Treasury to maintain competition and competitiveness).'.
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