| Amendments proposed to the Financial Services and Markets Bill - continued | House of Commons |
| back to previous text | |
|
Mr Alan Milburn 94 Clause 19, page 8, line 21, leave out subsection (1) and insert—'(1) A person ("A") must not, in the course of business, communicate an invitation or inducement to engage in investment activity. (1A) But subsection (1) does not apply if—
Mr David Heathcoat-Amory 100 Clause 19, page 8, line 21, leave out 'A person must not' and insert 'No person shall in the course of a business'.
Mr David Heathcoat-Amory 101 Clause 19, page 8, line 21, leave out 'A person must not' and insert 'No person shall in a business context in the United Kingdom'.
Mr David Heathcoat-Amory 102 Clause 19, page 8, line 22, after 'invitation', insert 'which is clearly promotional in nature'.
Mr Alan Milburn 95 Clause 19, page 8, line 29, leave out 'only applies' and insert 'applies only'.
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 Alan Milburn 96 Clause 19, page 8, line 30, at end insert—'(2A) The Treasury may by order specify circumstances in which a person is to be regarded for the purposes of subsection (1) as—
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 Alan Milburn 97 Clause 19, page 8, line 34, leave out from beginning to end of line 35 and insert—'(4) "Engaging in investment activity" means-'.
Mr David Heathcoat-Amory 106 *Clause 19, page 8, line 43, after 'activity' insert 'and, in either case, is carried on as a business.'.
Mr Alan Milburn 98 Clause 19, page 9, line 6, at end insert—'(7A) "Communicate" includes causing a communication to be made.'.
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.'.
Mr David Heathcoat-Amory 107 *Clause 20, page 9, line 11, after 'which' insert 'is carried on as a business and'.
Mr David Heathcoat-Amory 112 *Schedule 2, page 192, line 11, leaqve out from 'activities' to end of line 12 and insert 'are those described in general terms in this Part of this Schedule and other matters, as determined by the Treasury, of a similar nature.'.
Mr David Heathcoat-Amory 113 *Schedule 2, page 192, line 30, after 'another' insert 'which consists of or include investments, or may do so'.
Mr David Heathcoat-Amory 114 *Schedule 2, page 192, line 39, after 'persons' insert 'in their capacity as investors or potential investors.'.
Mr David Heathcoat-Amory 115 *Schedule 2, page 194, line 17, leave out 'to participate' and insert 'or interest of a participant'.
Mr David Heathcoat-Amory 116 *Schedule 2, page 194, line 38, leave out 'any' and insert 'a'.
Mr David Heathcoat-Amory 117 *Schedule 2, page 195, line 2, leave out 'any' and insert 'a'.
Mr David Heathcoat-Amory 118 *Schedule 2, page 195, line 29, at end insert—'25A. (1) The Treasury must publish a draft of any order proposed to be made under section 20(1) in the way appearing to it to be best calculated to bring it to the attention of the public. (2) The draft must be accompanied by—
(3) Before making the proposed order, the Treasury must have regard to any representations made to it in accordance with subparagraph (2)(c). (4) If the order made by the Treasury differs from the draft published under subparagraph (1) in a way which is, in the opinion of the Treasury, significant the Treasury must publish a statement explaining the difference. (5) Subparagraphs (1), (2) and (4) do not apply if the Treasury considers that the delay involved in complying with them would be prejudicial to the interests of consumers. (6) The Treasury may charge a reasonable fee for providing a person with a copy of a draft published under subparagraph (1)'.
Mr David Heathcoat-Amory 119 *Schedule 2, page 196, line 13, leave out 'contract or'.
Mr David Heathcoat-Amory 108 *Clause 26, page 11, line 19, after 'may' insert 'determine that no compensation is recoverable and'.
Mr David Heathcoat-Amory 109 *Clause 26, page 11, line 21, after 'enforced' insert 'by the provider'.
Mr David Heathcoat-Amory 110 *Clause 26, page 11, line 22, after 'agreement' insert 'by the purchaser'.
Mr David Heathcoat-Amory 111 *Clause 27, page 12, line 26, after 'applies' insert 'or that it is just and equitable to do so where the person making the communication or causing it to be made believed on reasonable grounds that the contents of the communication had been approved by an authorised person'.
|
| |
| ©Parliamentary copyright 1998 | Prepared 16 Jul 1999 |