Vote Bundle Text (991019-03)

Amendments proposed to the Financial Services and Markets Bill - continued	House of Commons

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Mr Andrew Smith

209

Schedule 5, page 204, line 25, at end insert—

'( ) A person qualifying for authorisation under paragraph 1(3) has permission to carry on, so far as it is a regulated activity—

(a) the operation of the scheme;

(b) any activity in connection with, or for the purposes of, the operation of the scheme.'.

Mr Andrew Smith

239

*Schedule 5, page 204, line 26, leave out 'UCITS qualifier' and insert 'person qualifying for authorisation under paragraph 1(1)'.

Mr Andrew Smith

240

*Schedule 5, page 204, line 28, leave out 'given' and insert 'issued'.

Mr Andrew Smith

211

Schedule 5, page 204, line 29, leave out 'given' and insert 'issued'.

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

215

*Clause 34, page 15, line 9, at end add—

'(5) No exemption order to which subsection (7) applies may be made unless a draft of the order has been laid before Parliament and approved by a resolution of each House.

(6) An exemption order to which subsection (7) does not apply shall be subject to annulment in pursuance of a resolution of either House of Parliament.

(7) This subsection applies to an exemption order which—

(a) is the first order to be made under this section in respect of a particular person; or

(b) varies an order previously made so as to vary or remove by an exemption.'.

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

216

*Clause 35, page 15, line 23, at end insert—

'(2A) Business prescribed for the purposes of subsection (1)(a)(i) shall include—

(a) procuring or endeavouring to procure the persons with whom he deals to enter into agreements with his principal or (if not prohibited by his contract) with other persons;

(b) giving advice to the persons with whom he deals about entering into agreements with his principal or (if not prohibited by his contract) with other persons; or

(c) giving advice as to the sale of investments issued by his principal or as to the exercise of rights conferred by an investment whether or not issued as aforesaid.

(2B) In subsection (2A) "agreement" shall bear the meaning given by section 24(3).'.

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

217

*Clause 36, page 16, line 11, at end add—

'(4) "A UCITS permission" means a permission to carry on a regulated activity in the United Kingdom under Schedule 5 in accordance with the UCITS directive or any similar directive.

(5) In this Part, other than in this section, references to a Part IV permission include references to a permission obtained under Schedule 5 other than, in the case of a person who does not have his head office in the United Kingdom, a UCITS permission.'

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

219

*Schedule 6, page 204, line 33, after '36', insert 'permission and'.

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

220

*Schedule 6, page 204, line 34, after second 'to', insert 'the continuance of'.

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

163

Schedule 6, page 205, line 13, leave out 'or territory'.

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

221

*Schedule 6, page 205, line 17, leave out from 'office' to end of line 1, and insert 'or carry on business in the United Kingdom; and

(b) comply with such other requirements as the Authority may impose generally for the purposes of prudential supervision.'.

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

222

*Schedule 6, page 206, line 18, leave out 'an additional permission' and insert 'permission under Part IV'.

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

223

*Schedule 6, page 206, line 20, leave out 'additional' and insert 'a Part IV'.

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

218

*Clause 39, page 17, line 32, at end add—

'(6) In this section "consumer" has the same meaning as in section 9(7)'.

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

224

*Clause 40, page 18, line 15, leave out from 'which' to 'the' in line 16 and insert 'is listed in the annex to the second banking co-ordination directive or'

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

225

*Clause 40, page 18, line 30, after 'firm', insert 'or a Treaty firm'.

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

226

*Clause 40, page 18, line 32, at end insert 'or Schedule 4, as the case may be'.

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

227

*Clause 40, page 18, line 36, at end insert—

'(4) For the purposes of Case C, "consumer" has the same meaning as in section 9(7)'.

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

228

*Clause 41, page 19, line 1, leave out 'likely'.

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

229

*Clause 41, page 19, line 2, leave out 'uncertain' and insert 'likely to prejudice the continued satisfaction of the qualifying conditions by the authorised person'.

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

232

*Clause 42, page 19, leave out lines 20 and 21.

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

233

*Clause 42, page 19, line 22, leave out 'in deciding whether or not to'.

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

234

*Clause 42, page 19, line 23, leave out 'consider whether' and insert 'if'.

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

235

*Clause 42, page 19, line 25, leave out 'in any other case'.

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

230

*Clause 42, page 19, line 26, after 'power', insert 'in any case falling out subsection (1) and subsection (3)'.

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

231

*Clause 42, page 19, line 26, after 'request', insert 'made by a regulator who is (a) outside the United Kingdom, (b) of a prescribed kind and (c) acting in pursuance of provisions of a prescribed kind,'.

Mr Andrew Smith

200

Clause 45, page 21, line 27, leave out 'UCITS qualifier' and insert 'person qualifying for authorisation under paragraph 1(1) of Schedule 5'.

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

137

Clause 47, page 22, line 19, leave out 'six months' and insert '35 days (or in the case of an application by a person who is not an authorised person, or by an authorised person for deposit-taking or to write insurance contracts, six months)'.

Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson

138

Clause 82, page 38, line 29, at end add—

'(6) The competent authority approved for the purpose of this section (the "non-listing competent authority") may be different from the competent authority appointed for the purpose of section 69 and in any such case references in Part VI to the competent authority shall in the case of a non-listing prospectus be construed as references to the non-listing competent authority.'.