| Amendments proposed to the Financial Services and Markets Bill - continued | House of Commons |
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Mr David Heathcoat-Amory 154 Clause 208, page 105, line 9, after 'communicated', insert 'to a person in the United Kingdom'.
Mr David Heathcoat-Amory 155 Clause 208, page 105, line 11, after 'communicated,', insert 'to a person in the United Kingdom.'.
Mr David Heathcoat-Amory 156 Clause 338, page 170, line 15, leave out 'on which it relied' and insert 'relating to the matters covered by the warning notice'.
Mr David Heathcoat-Amory 157 Clause 340, page 171, line 39, leave out subsection (7).
Mr David Heathcoat-Amory 320 Clause 341, page 172, line 6, at end insert 'or'.
Mr David Heathcoat-Amory 321 Clause 341, page 172, line 8, leave out from 'otherwise' to end of line 11.
Mr David Heathcoat-Amory 322 Clause 341, page 172, line 14, leave out ', or is reckless as to whether it may induce,'.
Mr Andrew Smith 201 Clause 352, page 179, line 16, at end insert—'"Part XVI qualifier" has the meaning given in paragraph 1 of Schedule 5;'.
Mr Andrew Smith 202 Clause 352, page 180, leave out lines 2 to 5.
Mr David Heathcoat-Amory 158 Clause 356, page 183, line 4, at end add—'(8) An agreement or arrangement is not within subsection (4)(g) if the agreement or arrangement is for either H or the other person to acquire, hold or dispose of shares or other interests as agent or nominee on behalf of the other without it or the other person being able to exercise or control the exercise of voting powers in his own discretion.'.
Dr Vincent Cable 132 Clause 365, page 185, line 24, after 'Sections', insert '20,'.
Mr Andrew Smith 423 *Schedule 16, page 228, line 6, at end insert—
'The House of Commons Disqualification Act 1975 (c. 24) . In Part III of Schedule 1 to the House of Commons Disqualification Act 1975 (disqualifying offices)—
. In Part III of Schedule 1 to the Northern Ireland Assembly Disqualification Act 1975 (disqualifying offices)—
Mr Andrew Smith 424 *Schedule 16, page 228, line 6, at end insert—
'The Tribunals and Inquiries Act 1992 (c. 53) .—(1) The Tribunals and Inquiries Act 1992 is amended as follows.(2) In Schedule 1 (tribunals under supervision of the Council on Tribunals), for the entry relating to financial services and paragraph 18, substitute—
"Financial services and markets 18. The Financial Services and Markets Tribunal.'.
Mr Andrew Smith 425 *Schedule 16, page 228, line 6, at end insert—
'The Judicial Pensions and Retirement Act 1993 (c. 8) .—(1) The Judicial Pensions and Retirement Act 1993 is amended as follows.(2) In Schedule 1 (offices which may be qualifying offices), in Part II, after the entry relating to the President or chairman of the Transport Tribunal insert—
Mr Andrew Smith 426 *Schedule 17, page 228, line 18, at end insert—
Mr Andrew Smith 427 *Schedule 17, page 228, line 23, at end insert—
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:—'.—( ) 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).'.
NEW SCHEDULE
Dr Vincent Cable NS1 To move the following Schedule:—
'The Consumer PanelFunctions 1. The functions of the Consumer Panel are to include—
2. The Consumer Panel may publish a copy of any research carried out by it under paragraph 1 in such a manner as it thinks fit.
Annual Reports 3. (1) The Consumer Panel shall make an annual report to the Authority on the discharge of its functions during the year to which the report relates.(2) The Consumer Panel shall provide the Authority with such information relating to the discharge of its functions as the Authority sees fit. (3) The Authority must publish a copy of any annual report made to it under sub-paragraph (1) in such a manner as it thinks fit.
Budget 4. The Authority may, to such extent as may be approved by the Treasury, defray or contribute towards the expenses of the Consumer Panel.'.
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| ©Parliamentary copyright 1998 | Prepared 29 Oct 1999 |