Vote Bundle Text (991028-02)

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

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

372

Clause 95, page 43, line 44, after 'information', insert 'which he knows, or ought to know, is confidential and'.

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

390

*Clause 95, page 43, line 45, leave out 'in the market who are unaware of the behaviour' and insert 'generally'.

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

141

Clause 95, page 43, line 45, leave out 'who are unaware of the behaviour'.

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

310

Clause 95, page 44, line 9, leave out 'may' and insert 'shall, after consultation with all relevant interests,'.

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

142

Clause 95, page 44, line 20, after 'which', insert 'the Treasury specifies and which'.

Mr Andrew Smith

348

Clause 95, page 44, line 20, at end insert 'or which is accessible electronically in the United Kingdom.'.

Mr Andrew Smith

349

Clause 95, page 44, line 21, leave out 'behaviour' and insert 'the behaviour which'.

Mr Andrew Smith

350

Clause 95, page 44, line 22, leave out from 'investments' to 'occurs' in line 23 and insert 'includes behaviour which—

(a)''.

Mr Andrew Smith

351

Clause 95, page 44, line 23, after 'matter', insert ', or whose price or value is expressed by reference to the price or value,'.

Mr Andrew Smith

352

Clause 95, page 44, line 25, leave out 'if it'.

Mr Andrew Smith

353

Clause 95, page 44, line 27, leave out from 'Information' to end of line 29 and insert 'which can be obtained by research or analysis conducted by, or on behalf of, users of a market is to be regarded for the purposes of this section as being generally available to them.'.

Mr Andrew Smith

354

Clause 95, page 44, line 30, leave out subsection (8) and insert—

'(8) Behaviour which conforms with rules does not constitute market abuse.'.

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

391

*Clause 95, page 44, leave out lines 30 and 31.

Mr Andrew Smith

355

Clause 95, page 44, leave out lines 37 and 38.

Mr Andrew Smith

356

Clause 95, page 44, leave out line 40 and insert—

' "regular user", in relation to a particular market, means a reasonable person who regularly deals on that market in investments of the kind in question.'.

Mr Andrew Smith

357

Clause 96, page 44, line 42, leave out 'for the purpose of helping to determine' and insert 'containing such provisions as the Authority considers will give appropriate guidance to those determining.'.

Mr Andrew Smith

358

Clause 96, page 45, line 1, after 'may', insert 'among other things'.

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

392

*Clause 96, page 45, line 8, at end insert—

'(2A) If the Authority becomes aware that there is uncertainty as to whether particular behaviour may or may not amount to market abuse it shall use its best endeavours to make its opinion public by altering the Code accordingly as soon as practicable.'.

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

393

*Clause 96, page 45, line 14, leave out from 'of' to end of line 15 and insert 'the public'.

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

394

*Clause 96, page 45, line 18, leave out 'interested persons' and insert 'the public'.

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

311

Clause 98, page 45, line 33, after 'satisfied', insert 'beyond reasonable doubt'.

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

143

Clause 98, page 45, line 35, leave out from beginning to 'another' and insert 'has procured'.

Mr Andrew Smith

359

Clause 98, page 45, line 35, leave out 'induced' and insert 'required or encouraged'.

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

395

*Clause 98, page 45, line 35, leave out 'induced' and insert 'procured'.

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

312

Clause 98, page 45, line 37, after 'may', insert ',after giving him an opportunity to make representations as to why a penalty should not be imposed,'.

Mr Andrew Smith

360

Clause 99, page 46, line 1, at end insert—

'( ) The Authority's policy in determining what the amount of a penalty should be must include having regard to—

(a) whether the behaviour in respect of which the penalty is to be imposed had an adverse effect on the market in question and, if it did, how serious that effect was;

(b) the extent to which that behaviour was deliberate or reckless; and

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

396

*Clause 99, page 46, leave out lines 13 and 14 and insert 'the public'.

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

397

*Clause 100, page 46, line 23, leave out 'state the' and insert 'indicate the proposed'.

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

398

*Clause 101, page 46, line 30, after second 'the', insert 'proposed'.

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

313

Clause 102, page 46, line 38, leave out 'give' and insert 'serve personally on'.

Mr Andrew Smith

361

Clause 103, page 47, line 8, leave out 'under section 98 or 138' and insert 'to impose penalties in market abuse cases'.

Mr Andrew Smith

362

Clause 103, page 47, line 19, at end insert—

'( ) The Authority's powers to impose penalties in market abuse cases are its powers—

(a) to impose penalties under section 98; or

(b) to impose penalties under section 138 in a case falling within subsection (2)(b) of that section.'.

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

314

Clause 105, page 47, line 35, after 'General', insert ', the Advocate General for Scotland,'.

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

144

Clause 105, page 47, line 36, after 'State', insert 'and must have regard to the views of the other relevant authorities'.

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

315

Clause 105, page 47, line 41, after 'State', insert ', the Lord Advocate,'.

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

145

Clause 105, page 47, line 45, at end add—

'(d) otherwise means the Authority'.

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

399

*Clause 105, page 47, line 45, at end add—

'(d) the Authority'.