S.C.A.
NOTICES OF AMENDMENTS
given up to and including
Tuesday 7th December 1999
New Amendments handed in are marked thus *
STANDING COMMITTEE A
FINANCIAL SERVICES AND MARKETS BILL
(Clauses Nos. 135 to 367 and Schedules Nos. 12 to 17)
[The clause, page and line references relate to the Bill as re-introduced on 18th November]
NOTE
The Amendments have been arranged in accordance with the Order of the Committee [6th July 1999], as follows:—
Clause 1; Schedule 1; Clauses 2 to 20; Schedule 2; Clauses 21 to 28; Schedules 3 and 4; Clauses 29 to 33; Schedule 5; Clauses 34 to 37; Schedule 6; Clauses 38 to 69; Schedule 7; Clauses 70 to 82; Schedule 8; Clause 83; Schedule 9; Clauses 84 to 94; Schedule 10; Clauses 95 to 107; Schedule 11; Clauses 108 to 141; Schedule 12; Clauses 142 to 175; Schedule 13; Clauses 176 to 197; Schedule 14; Clauses 198 to 295; Schedule 15; Clauses 296 to 367; Schedules 16 and 17; new Clauses; new Schedules.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
916
Clause 338, page 170, line 35, leave out 'subsection (5)' and insert 'the proposed action on the person to whom the warning notice is given'.
Mr Andrew Smith
958
Clause 338, page 170, line 39, leave out from 'party' to end of line 40.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
156
Clause 338, page 171, line 7, leave out 'on which it relied' and insert 'relating to the matters covered by the warning notice'.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
917
Clause 339, page 171, line 9, leave out 'Decision' and insert 'Enforcement'.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
918
Clause 339, page 171, line 10, leave out 'A decision' and insert 'An enforcement'.
Mr Andrew Smith
959
Clause 339, page 171, line 22, leave out from 'party' to end of line 23.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
919
Clause 339, page 172, line 7, at end insert—
'(c) issue a notice for payment or otherwise enforce a decision notice whilst the decision is open to review'.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
920
Clause 339, page 172, line 16, at end insert 'or withdrawn'.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
963
Clause 340, page 172, line 19, leave out from 'follow' to end and insert 'in relation to the giving of warning notices and decision notices'.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
922
Clause 340, page 172, line 23, at end insert—
'(2A) The Authority must consult on the proposed procedure and subsections (1), (2) and (4) to (10) of section 125 apply to the proposed procedure as they apply to proposed rules.'.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
964
Clause 340, page 172, line 27, leave out 'exercising any functions under section 338 or 339' and insert 'giving a warning notice or a decision notice'.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
924
Clause 340, page 172, line 29, leave out 'changes' and insert 'proposes to change'.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
925
Clause 340, page 172, line 29, at end insert 'consult on the changes in the same manner as referred to in subsection (2A) and'.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
157
Clause 340, page 172, line 31, leave out subsection (7).
Mr Andrew Smith
960
Clause 340, page 172, line 31, leave out from 'The' to 'follow' and insert 'Authority's failure in a particular case to'.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
926
Clause 340, page 172, line 31, leave out 'does not follow' and insert 'diverges from'.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
927
Clause 340, page 172, line 33, at end add 'if the person to whom the warning notice or decision notice was given is not materially prejudiced thereby'.
Mr Andrew Smith
961
Clause 340, page 172, line 33, at end insert—
'( ) But subsection (7) does not prevent the Tribunal from taking into account any such failure in considering a matter referred to it.'.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
320
Clause 341, page 172, line 39, at end insert 'or'.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
321
Clause 341, page 172, line 41, leave out from 'otherwise' to end of line 3 on page 173.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
322
Clause 341, page 173, line 6, leave out ', or is reckless as to whether it may induce,'.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
928
Clause 343, page 174, line 26, leave out 'attributable to' and insert 'caused by'.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
929
Clause 343, page 174, line 33, leave out 'in' and insert 'constituted under the laws of'.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
930
Clause 343, page 174, line 38, leave out 'in' and insert 'constituted under the laws of'.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
931
Clause 343, page 174, line 42, leave out 'attributable to' and insert 'caused by'.
Mr Andrew Smith
784
Clause 344, page 175, line 13, at end insert 'or subordinate legislation made under this Act'.
Mr Andrew Smith
966
*Clause 346, page 176, line 31, leave out subsection (6).
Mr Andrew Smith
967
*Clause 348, page 177, leave out line 22 and insert—
'(a) sections 158 and 160 have effect as if the notice was a notice of objection within the meaning of Part XI; and'.
Mr Andrew Smith
686
Clause 350, page 178, line 32, leave out 'Financial Services Ombudsman Scheme' and insert 'ombudsman scheme'.
Mr Andrew Smith
201
Clause 352, page 180, line 10, 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 41 to 44.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
932
Clause 352, page 181, line 8, at end add 'or is a Saturday or Sunday'.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
933
Clause 353, page 181, leave out lines 15 to 18.
Mr David Heathcoat-Amory
Mr Howard Flight
Mr Tim Loughton
Sir Nicholas Lyell
Mr Andrew Tyrie
Mr Keith Simpson
965
*Clause 353, page 181, line 18, at end insert—
'(c) by engaging in the regulated activity the relevent UK firm is exercising an EEA right.'.
