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46 | Inquiries under the Financial Services and Markets Act 2000 |
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(1) | Section 14 of the Financial Services and Markets Act 2000 (c. 8) (cases in which |
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the Treasury may arrange independent inquiries) is amended as follows. |
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(2) | In subsection (2)(b)(i), after “by this Act” there is inserted “, or by any previous |
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(3) | In subsection (3)(b), for the words after “but for a serious failure” there is |
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(i) | the regulatory system established by Part 6 or by any |
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previous statutory provision concerned with the official |
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listing of securities; or |
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(ii) | the operation of that system.” |
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(4) | After subsection (5) there is inserted— |
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“(5A) | “Event” does not include any event occurring before 1st December 2001 |
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(but no such limitation applies to the reference in subsection (4) to |
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surrounding circumstances).” |
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47 | Inquiries etc under Northern Ireland legislation |
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(1) | For section 23 of the Interpretation Act (Northern Ireland) 1954 (c. 33 (N.I.)) |
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(inquiries and investigations) there is substituted— |
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“23 | Inquiries and investigations |
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The provisions of Schedule A1 to this Act shall have effect in relation to |
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any local or other inquiry or any investigation which a Minister or |
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Northern Ireland department causes to be held or made under any |
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enactment passed or made— |
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(a) | after the commencement of this Act, and |
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(b) | before the commencement of section 47 of the Inquiries Act |
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(2) | The Schedule set out in Schedule 1 to this Act is inserted into that Act as |
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48 | Minor and consequential amendments |
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(1) | Schedule 2 (minor and consequential amendments) has effect. |
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(2) | In Schedule 1 to the National Assembly for Wales (Transfer of Functions) |
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Order 1999 (S.I. 1999/672) a reference to an Act that is amended by Schedule 2 |
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to this Act is to be read as referring to that Act as so amended. |
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49 | Repeals and revocations |
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(1) | The Tribunals of Inquiry (Evidence) Act 1921 (c. 7) is repealed. |
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(2) | The provisions set out in Schedule 3 are repealed or revoked to the extent |
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This Act and any provisions made under it bind the Crown (but do not affect |
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Her Majesty in her personal capacity or in right of Her Duchy of Lancaster or |
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(1) | The preceding provisions of this Act come into force on such day as the Lord |
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Chancellor may appoint by order made by statutory instrument. |
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(2) | Before making an order under this section the Lord Chancellor must consult |
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the Scottish Ministers, the National Assembly for Wales and the First Minister |
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and deputy First Minister. |
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(3) | An order under this section— |
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(a) | may include any transitory, transitional or saving provision that the |
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Secretary of State considers necessary or expedient; |
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(b) | may appoint different days for different purposes. |
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This Act extends to the whole of the United Kingdom. |
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This Act may be cited as the Inquiries Act 2005. |
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Provisions applicable to inquiries etc under Northern Ireland legislation |
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| The following is the Schedule inserted into the Interpretation Act (Northern |
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Ireland) 1954 (c. 33 (N.I.))—
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Provisions applicable to inquiries and investigations |
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“the inquiry” means any inquiry or investigation in relation |
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to which, by virtue of section 23 of this Act, the provisions |
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“the Department” means the Minister or Northern Ireland |
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department causing the inquiry to be held. |
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Appointment of person to hold inquiry |
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2 | The Department shall appoint a person to hold the inquiry and to |
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report thereon to the Department. |
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Notification of time and place of inquiry |
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3 | Notification shall be sent to any persons appearing to the |
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Department or the person appointed to hold the inquiry to be |
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interested of the time when, and the place where, the inquiry is to |
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Powers to require persons to give evidence etc. |
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4 (1) | Subject to sub-paragraphs (2) and (3), the person appointed to |
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hold the inquiry may by notice require any person— |
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(a) | to attend at the time and place set forth in the notice to give |
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evidence or to produce any books or documents in his |
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custody or under his control which relate to any matter in |
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question at the inquiry; or |
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(b) | to furnish, within such reasonable period as is specified in |
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the notice, such information relating to any matter in |
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question at the inquiry as the person appointed to hold the |
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inquiry may think fit, and as the person so required is able |
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(2) | A person shall not to be required, in obedience to such a notice, to |
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attend at any place which is more than 16 kilometres from the |
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place where he resides unless the necessary expenses are paid or |
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(3) | Nothing in this paragraph shall empower the person appointed to |
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hold the inquiry to require any person to produce any book or |
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document, or to answer any question, which he would be entitled, |
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on the ground of privilege or otherwise, to refuse to produce or to |
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answer if the inquiry were a proceeding in a court of law. |
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5 | The person appointed to hold the inquiry may administer oaths |
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and examine witnesses on oath, and may accept, in lieu of |
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evidence on oath by any person, a statement in writing by that |
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(a) | refuses or wilfully neglects to attend in obedience to a |
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notice under paragraph 4, or to give evidence; or |
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(b) | wilfully alters, suppresses, conceals or destroys or refuses |
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to produce any book or document which he may be |
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required to produce by any such notice; or |
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(c) | refuses or deliberately neglects to furnish any information |
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which he is required to furnish under paragraph 4(1)(b); |
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| shall be guilty of an offence and shall be liable on summary |
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conviction to imprisonment for a term not exceeding three months |
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or to a fine not exceeding level 2 on the standard scale. |
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7 (1) | The expenses incurred by the Department in relation to the |
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inquiry (including such sum as the Department may, with the |
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approval of the Department of Finance and Personnel, determine |
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in respect of the services of any officer engaged in the inquiry) |
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shall be paid by such of the parties to the inquiry in such |
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proportions as the Department may order. |
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(2) | The Department may make orders as to the expenses incurred by |
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the parties appearing at the inquiry and as to the parties by whom |
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such expenses shall be paid. |
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(3) | Any order made by the Department under sub-paragraph (1) or |
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(2) may, on the application of any party to the inquiry, be made a |
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