| Amendments proposed to the Financial Services and Markets Bill, As Amended - continued | House of Commons |
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Mr Chancellor of the Exchequer 75 Page 14, line 36 [Clause 33], leave out 'Part XVI qualifier' and insert 'person authorised as a result of paragraph 1(1) of Schedule 5'.
Mr Chancellor of the Exchequer 76 Page 14, line 37 [Clause 33], leave out from 'to' to end of line 38 and insert 'be a person so authorised'.
Mr Chancellor of the Exchequer 77 Page 15, line 5 [Clause 34], leave out 'persons for the purposes of section 17' and insert 'from the general prohibition'.
Mr Chancellor of the Exchequer 78 Page 15, line 6 [Clause 34], leave out from second 'person' to end of line 7 and insert 'as a result of an exemption order if he has a Part IV permission'.
Mr William Hague 199 Page 15, line 14 [Clause 34], at end insert—'(5) No exemption order to which subsection (7) applies may be made unlesss 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:
Mr Chancellor of the Exchequer 79 Page 15, line 15 [Clause 35], after 'person' insert '(other than an authorised person)'.
Mr Chancellor of the Exchequer 80 Page 15, line 24 [Clause 35], leave out 'an exempt person' and insert 'exempt from the general prohibition'.
Mr Chancellor of the Exchequer 81 Page 16, line 10 [Clause 36], after 'may' insert 'not'.
Mr Chancellor of the Exchequer 82 Page 16, line 11 [Clause 36], leave out 'does not have' and insert 'has'.
Mr Chancellor of the Exchequer 83 Page 16, line 14 [Clause 36], at end insert—'(2A) An EEA firm may not apply for permission under this section to carry on a regulated activity which it is, or would be, entitled to carry on in exercise of an EEA right, whether through a United Kingdom branch or by providing services in the United Kingdom.'.
Mr Chancellor of the Exchequer 84 Page 16, line 22 [Clause 37], at end insert—'( ) If the applicant—
the application is to be treated as relating to all the regulated activities which, if permission is given, he will carry on. ( ) If the applicant—
the application is to be treated as relating only to that other regulated activity.'.
Mr Chancellor of the Exchequer 85 Page 16, line 23 [Clause 37], leave out subsection (3).
Mr Chancellor of the Exchequer 86 Page 16, line 38 [Clause 38], leave out from 'include' to end of line 40 and insert 'such requirements as the Authority considers appropriate.'.
Mr Chancellor of the Exchequer 87 Page 16, line 41 [Clause 38], leave out subsection (2).
Mr Chancellor of the Exchequer 88 Page 17, line 20 [Clause 39], leave out subsection (2).
Mr William Hague 206 Page 17, line 27 [Clause 39], after 'it', insert 'after receiving representations'.
Mr Chancellor of the Exchequer 89 Page 17, line 31 [Clause 39], at end insert—'( ) If, as a result of a variation of a Part IV permission under this section, there are no longer any regulated activities for which the authorised person concerned has permission, the Authority must, once it is satisfied that it is no longer necessary to keep the permission in force, cancel it.'.
Mr Chancellor of the Exchequer 90 Page 17, line 32 [Clause 39], after 'permission' insert 'under this section'.
Mr William Hague 207 Page 17, line 35 [Clause 39], at end insert—'(6) In this section "consumers" has the same meaning as in section 9.'.
Mr Chancellor of the Exchequer 91 Page 17, line 36 [Clause 40], leave out from 'vary' to 'in' and insert 'a Part IV permission in any of the ways mentioned in section 39(1) or cancel it'.
Mr Chancellor of the Exchequer 92 Page 17, line 39 [Clause 40], leave out from 'that' to 'in', in line 40, and insert 'the authorised person is failing, or is likely to fail, to satisfy the threshold conditions'.
Mr Chancellor of the Exchequer 93 Page 17, line 41 [Clause 40], leave out 'the authorised person concerned' and insert 'he'.
Mr Chancellor of the Exchequer 94 Page 18, line 3 [Clause 40], leave out from beginning to end of line 7.
Mr Chancellor of the Exchequer 95 Page 18, line 14 [Clause 40], leave out from beginning to end of line 24.
Mr Chancellor of the Exchequer 96 Page 18, line 25 [Clause 40], leave out subsection (2).
Mr Chancellor of the Exchequer 97 Page 18, line 29 [Clause 40], leave out subsection (3).
Mr Chancellor of the Exchequer 98 Page 18, line 32 [Clause 40], at end insert—'( ) If, as a result of a variation of a Part IV permission under this section, there are no longer any regulated activities for which the authorised person concerned has permission, the Authority must, once it is satisfied that it is no longer necessary to keep the permission in force, cancel it.'.
Mr Chancellor of the Exchequer 99 Page 18, line 35 [Clause 40], leave out 'Part IV'.
Mr Chancellor of the Exchequer 100 Page 18, line 37 [Clause 40], leave out subsection (5).
Mr Chancellor of the Exchequer 101 Page 18, line 42 [Clause 41], leave out 'as mentioned in section 150'.
Mr Chancellor of the Exchequer 102 Page 19, line 7 [Clause 41], at end insert—'( ) Any reference to a person having acquired control is to be read in accordance with Part XI.'.
Mr Chancellor of the Exchequer 103 Page 19, line 25 [Clause 42], leave out from 'any' to 'may', in line 26, and insert 'case in which the Authority does not consider that the exercise of its own-initiative power is necessary in order to comply with a Community obligation, it'
Mr Chancellor of the Exchequer 104 Page 20, line 1 [Clause 43], leave out from 'Authority' to end of line 12 and insert—
(1A) A person on whom an assets requirement is imposed is referred to in this section as "A". (1B) "Assets requirement" means a requirement under section 38—
Mr William Hague 208 Page 20, line 8 [Clause 43], after 'by', insert 'A'.
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| ©Parliamentary copyright 2000 | Prepared 26 Jan 2000 |