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| | Page 57, line 26 [Clause 105], leave out ‘an independent’ and insert ‘a’. |
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| | Page 57, line 29 [Clause 106], leave out ‘an independent’ and insert ‘a’. |
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| | Page 59, line 21 [Clause 108], leave out subsection (2) and insert— |
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| | | ‘(2) | The management condition is that— |
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| | | (a) | the number of managers of the body who are non-authorised persons is |
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| | | less than 25 per cent. of the total number of managers; or |
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| | | (b) | the managers who are non-authorised individuals who provide services |
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| | | directly or indirectly to clients within their own professional training, are |
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| | | members of one or more recognised professional bodies and do not |
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| | | account for more than 50 per cent. on a headcount of managers.’. |
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| | Page 59, line 22 [Clause 108], leave out ‘non-authorised persons’ and insert |
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| | ‘within subsection (3A)’. |
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| | Page 59, line 23 [Clause 108], leave out subsection (3) and insert— |
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| | | ‘(3) | The ownership condition for B satisfying the management condition set out in |
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| | | (a) | only managers of B can hold shares or exercise voting rights or control |
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| | | unless they are authorised persons, and |
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| | | (b) | the proportion of shares in B held by persons who are non-authorised |
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| | | managers is less than 25 per cent., and |
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| | | (c) | the proportion of the voting rights in B which persons who are non- |
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| | | authorised managers are entitled to exercise, or control the exercise of, is |
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| | | (d) | if B has a parent undertaking (“P”)— |
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| | | (i) | the proportion of shares in P held by persons who are non- |
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| | | authorised managers is less than 25 per cent., and |
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| | | (ii) | the proportion of the voting rights in P which non-authorised non |
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| | | managers are entitled to exercise, or control the exercise of, is |
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| | Page 59, line 24 [Clause 108], leave out ‘non-authorised persons’ and insert |
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| | ‘persons within subsection (3A)’. |
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| | Page 59, line 26 [Clause 108], leave out ‘non-authorised’ and insert ‘such’. |
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| | Page 59, line 29 [Clause 108], leave out ‘non-authorised’ and insert ‘such’. |
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| | Page 59, line 31 [Clause 108], leave out ‘non-authorised’ and insert ‘such’. |
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| | Page 59, line 33 [Clause 108], at end insert— |
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| | | ‘(3A) | The persons within this subsection are— |
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| | | (a) | non-authorised persons; |
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| | Page 59, line 33 [Clause 108], at end insert— |
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| | | ‘(3A) | The ownership condition for B satisfying the management condition set out in |
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| | | subsection 2(b) is that shares and voting rights in B— |
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| | | (a) | are only held by authorised persons, or managers who are members of |
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| | | recognised professional bodies, and |
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| | | (b) | the percentage of shares held or proportion of voting rights exercised by |
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| | | non-authorised managers does not account for more than 50 per cent.’. |
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| | Page 59, line 36 [Clause 108], at end insert— |
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| | | ‘(4A) | For the purposes of this section “recognised professional body” means a body |
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| | | (other than an approved regulator), incorporated by Royal Charter, and which |
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| | | (a) | testing the competence of those seeking admission to membership of the |
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| | | body as a condition for such admission; and |
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| | | (b) | imposing and maintaining professional and ethical standards for its |
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| | | members, as well as imposing sanctions for non-compliance with those |
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| | | | “member” of a recognised professional body means a member or member firm as |
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| | | defined by the appropriate rules of such a body.’. |
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| | Page 189, line 42 [Schedule 12], leave out ‘an independent’ and insert ‘a’. |
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| | Page 214, line 3 [Schedule 14], at end insert— |
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| | | ‘( ) | that a person has been appointed receiver or manager of property of the |
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| | New Clause Relating to Part 6 |
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| | | Handling of complaints by approved regulator |
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| | To move the following Clause:— |
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| | | ‘(1) | The Board may direct that complaints within the jurisdiction of the ombudsman |
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| | | scheme and of such description as are specified in the direction shall be |
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| | | determined by an approved regulator instead of an ombudsman. |
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| | | (2) | The Board may by further direction vary or withdraw a direction given under |
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| | | (3) | Before giving a direction under this section the Board must consult— |
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| | | (b) | the approved regulator concerned, and |
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| | | (c) | such other persons as the Board considers it reasonable to consult. |
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| | | (4) | If the Board gives a direction under this section, it must— |
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| | | (a) | give a copy to the OLC, the Secretary of State, the approved regulator |
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| | | concerned, and any person consulted under subsection (3)(c), and |
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| | | (b) | publish the direction in the way it thinks fit. |
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| | | (5) | A direction under this section may include— |
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| | | (a) | transitional provision in relation to complaints already being dealt with |
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| | | under the ombudsman scheme or by an approved regulator, and |
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| | | (b) | incidental, supplemental or consequential provision, including provision |
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| | | applying a provision of or made under this Part, with or without |
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| | | modifications, to the determination of a complaint by an approved |
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| | Page 68, line 37 [Clause 133], leave out ‘may’ and insert ‘must’. |
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| | Page 68, line 41 [Clause 133], leave out from ‘circumstances’ to end of line 43 and |
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| | insert ‘to another body with a view to it being determined by that body instead of by an |
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| | ombudsman, with particular regard to— |
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| | | (i) | mixed complaints provided by authorised persons under any part |
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| | | (ii) | whether determination of the complaint by a body other than the |
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| | | ombudsman will be unduly prejudicial to the complainant or |
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| | | (iii) | provisions for managing a complainant’s dissatisfaction |
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| | | regarding the determination of the complaint referred to another |
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| | | body under this subsection.’. |
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| | Page 69, line 14 [Clause 133], at end insert— |
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| | | ‘(ha) | for an ombudsman to award costs against the respondent in favour of the |
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| | | OLC for the purpose of providing a contribution to resources deployed in |
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| | | dealing with the complaint if— |
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| | | (i) | the complaint against the respondent is determined or otherwise |
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| | | resolved substantially in favour of the complainant, or |
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| | | (ii) | in the ombudsman’s opinion the respondent failed to deal with |
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| | | the complaint in accordance with the regulatory arrangements |
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| | | which the relevant approved regulator has made under section |
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| | Page 69, line 48 [Clause 136], after ‘(3)(h)’, insert ‘, (ha),’. |
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| | Page 70, line 43 [Clause 136], at end insert— |
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| | | ‘(1A) | The rules must provide for charges payable in relation to a complaint to be |
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| | | reduced or waived (or partly or wholly refunded) where— |
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| | | (a) | the complaint is determined or otherwise resolved in favour of the |
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5 | | (b) | the ombudsman is satisfied that the respondent took all reasonable steps |
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| | | to try to resolve the complaint under the respondent’s complaints |
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| | | (1B) | The rules may make provision as to— |
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| | | (a) | the circumstances in which a complaint is to be treated as determined or |
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10 | | otherwise resolved in favour of the respondent (which may include |
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| | | circumstances where a complaint is settled, withdrawn or abandoned (or |
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| | | treated as withdrawn or abandoned by virtue of scheme rules)); |
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| | | (b) | matters to be taken into account by the ombudsman for the purposes of |
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15 | | (1C) | The respondent’s complaints procedures are the procedures established by the |
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| | | respondent, or which the respondent participates in or is subject to, in accordance |
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| | | with regulatory arrangements (or licensing rules of the Board) made in |
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| | | accordance with section 112.’. |
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| | | As Amendments to Mr Secretary Straw’s proposed Amendment (No. 93):— |
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| | Line 2, leave out ‘reduced or’. |
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| | Line 2, leave out ‘or partly’. |
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| | Page 70, line 43 [Clause 136], at end insert— |
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| | | ‘(1A) | The rules must provide for the OLC to reduce or waive a charge in circumstances |
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| | | (a) | the complaint relates to activity undertaken otherwise than for reward, or |
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| | | (b) | it appears to the OLC that the amount of a charge, unless reduced or |
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| | | waived, would be disproportionate having regard to the gravity or nature |
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| | | of the complaint, the value (if any) of the subject matter of the activity to |
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| | | which it relates, or the consideration payable for the services used by the |
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| | | complainant which consist of or include that activity, or |
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| | | (c) | it appears to the OLC that the amount of a charge, unless reduced or |
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| | | waived, would cause the respondent undue hardship. |
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| | | (1B) | The rules must also provide for the refund of the whole or part of a charge where |
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| | | circumstances coming to the OLC’s attention since the charge was paid are such |
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| | | that it appears to the OLC that the amount of the charge, unless wholly or partly |
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| | | (a) | is disproportionate having regard to the gravity or nature of the |
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| | | complaint, the value (if any) of the subject matter of the activity to which |
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| | | it relates, or the consideration payable for the services used by the |
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| | | complainant which consist of or include that activity, or |
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| | | (b) | causes the respondent undue hardship. |
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| | | (1C) | Scheme rules must provide that any charge in relation to a complaint shall not |
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| | | become payable by a respondent unless the complaint is determined or otherwise |
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| | | resolved substantially in favour of the complainant.’. |
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| | Page 71, line 2 [Clause 136], leave out ‘a particular case’ and insert ‘such other |
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| | circumstances as may be specified’. |
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| | Page 71, line 2 [Clause 136], after ‘case’, insert ‘(other than one to which rules |
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| | pursuant to subsection (1A) apply)’. |
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| | Page 71, line 5 [Clause 136], leave out ‘refunded in specified circumstances’ and |
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| | insert ‘wholly or partly refunded in such other circumstances as may be specified’. |
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| | Page 71, line 5 [Clause 136], after ‘circumstances’, insert ‘(other than |
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| | circumstances in which rules pursuant to subsection (1B) apply)’. |
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| | Page 72, line 15 [Clause 138], leave out ‘£20,000’ and insert ‘£30,000’. |
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| | Page 72, line 15 [Clause 138], leave out ‘£20,000’ and insert ‘£50,000’. |
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| | Page 72, line 15 [Clause 138], at end insert ‘or a higher sum which the Lord |
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| | Chancellor may by order prescribe.’. |
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| | Page 72 [Clause 138], leave out lines 22 to 24. |
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| | Page 73, line 42 [Clause 140], at end insert— |
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| | | ‘(10A) | Where a determination has become final and binding in accordance with this |
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| | | section, the complainant may appeal to the High Court against the determination, |
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| | | the terms of any direction made under section 137(2), or any omission to make |
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| | Page 73, line 42 [Clause 140], at end insert— |
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| | | ‘(10B) | Where a determination has become final and binding in accordance with this |
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| | | section, the respondent may appeal to the High Court against the determination |
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| | | or any direction made under section 137(2).’. |
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