Financial Services Act 1986 (Repealed)

1. Introductory Text

2. Part I Regulation of Investment Business

   1. Chapter I Preliminary

      1. 1. Investments and investment business.

      2. 2. Power to extend or restrict scope of Act.

   2. Chapter II Restriction on Carrying on Business

      1. 3. Persons entitled to carry on investment business.

      2. 4. Offences.

      3. 5. Agreements made by or through unauthorised persons.

      4. 6. Injunctions and restitution orders.

   3. Chapter III Authorised Persons

      1. Members of recognised self-regulating organisations

         1. 7. Authorisation by membership of recognised self-regulating organisation.

         2. 8. Self-regulating organisations.

         3. 9. Applications for recognition.

         4. 10. Grant and refusal of recognition.

         5. 11. Revocation of recognition.

         6. 12. Compliance orders.

         7. 13. Alteration of rules for protection of investors.

         8. 14. Notification requirements.

      2. Persons authorised by recognised professional bodies

         1. 15. Authorisation by certification by recognised professional body.

         2. 16. Professional bodies.

         3. 17. Applications for recognition.

         4. 18. Grant and refusal of recognition.

         5. 19. Revocation of recognition.

         6. 20. Compliance orders.

         7. 21. Notification requirements.

      3. Insurance companies

         1. 22. Authorised insurers.

      4. Friendly societies

         1. 23. Friendly societies.

      5. Collective investment schemes

         1. 24. Operators and trustees of recognised schemes.

      6. Investment companies with variable capital

         1. 24A. Investment companies with variable capital

      7. Persons authorised by the Secretary of State

         1. 25. Authorisation by Secretary of State.

         2. 26. Applications for authorisation.

         3. 27. Grant and refusal of authorisation.

         4. 28. Withdrawal and suspension of authorisation.

         5. 29. Notice of proposed refusal, withdrawal or suspension.

         6. 30. Withdrawal of applications and authorisations by consent.

      8. Persons authorised in other member States

         1. 31. Authorisation in other member State.

         2. 32. Notice of commencement of business.

         3. 33. Termination and suspension of authorisation.

         4. 34. Notice of proposed termination or suspension.

   4. Chapter IV Exempted Persons

      1. The Bank of England

         1. 35. The Bank of England.

      2. Recognised investment exchanges and clearing houses

         1. 36. Investment exchanges.

         2. 37. Grant and revocation of recognition.

         3. 38. Clearing houses.

         4. 39. Grant and revocation of recognition.

         5. 40. Overseas investment exchanges and clearing houses.

         6. 41. Notification requirements.

      3. Other exemptions

         1. 42. Lloyd’s.

         2. 43. Listed money market institutions.

         3. 44. Appointed representatives.

         4. 45. Miscellaneous exemptions.

      4. Supplemental

         1. 46. Power to extend or restrict exemptions.

   5. Chapter V Conduct of Investment Business

      1. 47. Misleading statements and practices.

      2. 47A. Statements of principle.

      3. 47B. Modification or waiver of statements of principle in particular cases.

      4. 48. Conduct of business rules.

      5. 49. Financial resources rules.

      6. 50. Modification of conduct of business and financial resources rules for particular cases.

      7. 51. Cancellation rules.

      8. 52. Notification regulations.

      9. 53. Indemnity rules.

      10. 54. Compensation fund.

      11. 55. Clients’ money.

      12. 56. Unsolicited calls.

      13. 57. Restrictions on advertising.

      14. 58. Exceptions from restrictions on advertising.

      15. 59. Employment of prohibited persons.

      16. 60. Public statement as to person’s misconduct.

      17. 61. Injunctions and restitution orders.

      18. 62. Actions for damages.

      19. 62A. Restriction of right of action.

      20. 63. Gaming contracts.

      21. 63A. Application of designated rules and regulations to members of self-regulating organisations.

      22. 63B. Modification or waiver of designated rules and regulations.

      23. 63C. Codes of practice.

   6. Chapter VI Powers of Intervention

      1. 64. Scope of powers.

      2. 65. Restriction of business.

      3. 66. Restriction on dealing with assets.

      4. 67. Vesting of assets in trustee.

      5. 68. Maintenance of assets in United Kingdom.

      6. 69. Rescission and variation.

      7. 70. Notices.

      8. 71. Breach of prohibition or requirement.

   7. Chapter VII Winding up and Administration Orders

      1. 72. Winding up orders.

      2. 73. Winding up orders: Northern Ireland.

      3. 74. Administration orders.

   8. Chapter VIII Collective Investment Schemes

      1. Preliminary

         1. 75. Interpretation.

      2. Promotion of schemes

         1. 76. Restrictions on promotion.

      3. Authorised unit trust schemes

         1. 77. Applications for authorisation.

         2. 78. Authorisation orders.

         3. 79. Revocation of authorisation.

         4. 80. Representations against refusal or revocation.

         5. 81. Constitution and management.

         6. 82. Alteration of schemes and changes of manager or trustee.

         7. 83. Restrictions on activities of manager.

         8. 84. Avoidance of exclusion clauses.

         9. 85. Publication of scheme particulars.

      4. Recognition of overseas schemes

         1. 86. Schemes constituted in other member States.

         2. 87. Schemes authorised in designated countries or territories.

         3. 88. Other overseas schemes.

         4. 89. Refusal and revocation of recognition.

         5. 90. Facilities and information in the United Kingdom.

      5. Powers of intervention

         1. 91. Directions.

         2. 92. Notice of directions.

         3. 93. Applications to the court.

      6. Supplemental

         1. 94. Investigations.

         2. 95. Contraventions.

   9. Chapter IX The Tribunal

      1. 96. The Financial Services Tribunal.

      2. 97. References to the Tribunal.

      3. 98. Decisions on references by applicant or authorised person etc.

      4. 99. Decisions on references by third parties.

      5. 100. Withdrawal of reference.

      6. 101. Reports.

   10. Chapter X Information

       1. 102. Register of authorised persons and recognised organisations etc.

       2. 103. Inspection of register.

       3. 104. Power to call for information.

       4. 105. Investigation powers.

       5. 106. Exercise of investigation powers by officer etc.

   11. Chapter XI Auditors

       1. 107. Appointment of auditors.

       2. 107A. Application of audit rules to members of self-regulating organisations.

       3. 108. Power to require second audit.

       4. 109. Communication by auditor with supervisory authorities.

       5. 110. Overseas business.

       6. 111. Offences and enforcement.

   12. Chapter XII Fees

       1. 112. Application fees.

       2. 113. Periodical fees.

   13. Chapter XIII Transfer of Functions to Designated Agency

       1. 114. Power to transfer functions to designated agency.

       2. 115. Resumption of transferred functions.

       3. 116. Status and exercise of transferred functions.

       4. 117. Reports and accounts.

       5. 118. Transitional and supplementary provisions.

   14. Chapter XIV Prevention of Restrictive Practices

       1. Examination of rules and practices

          1. 119. Recognised self-regulating organisations, investment exchanges and clearing houses.

          2. 120. Modification of s. 119 where recognition function is transferred.

          3. 121. Designated agencies.

       2. Consultation with Director General of Fair Trading

          1. 122. Reports by Director General of Fair Trading.

          2. 123. Investigations by Director General of Fair Trading.

       3. Consequential exemptions from competition law

          1. 124. The Fair Trading Act 1973.

          2. 125. The Restrictive Trade Practices Act 1976.

          3. 126. The Competition Act 1980.

       4. Recognised professional bodies

          1. 127. Modification of Restrictive Trade Practices Act 1976 in relation to recognised professional bodies.

       5. Supplemental

          1. 128. Supplementary provisions.

   15. Chapter XV Relations with other Regulatory Authorities

       1. 128A. Relevance of other controls.

       2. 128B. Relevance of information given and action taken by other regulatory authorities.

       3. 128C. Enforcement in support of overseas regulatory authority.

3. Part II Insurance Business

   1. 129. Application of investment business provisions to regulated insurance companies.

   2. 130. Restriction on promotion of contracts of insurance.

   3. 131. Contracts made after contravention of s. 130.

   4. 132. Insurance contracts effected in contravention of s. 2 of Insurance Companies Act 1982.

   5. 133. Misleading statements as to insurance contracts.

   6. 134. Controllers of insurance companies.

   7. 135. Communication by auditor with Secretary of State.

   8. 136. Arrangements to avoid unfairness between separate insurance funds etc.

   9. 137. Regulations in respect of linked long term policies.

   10. 138. Insurance brokers.

   11. 139. Industrial assurance.

4. Part III Friendly Societies

   1. 140. Friendly societies.

   2. 141. Indemnity schemes.

5. Part IV Official Listing of Securities

   1. 142. Official listing.

   2. 143. Applications for listing.

   3. 144. Admission to list.

   4. 145. Discontinuance and suspension of listing.

   5. 146. General duty of disclosure in listing particulars.

   6. 147. Supplementary listing particulars.

   7. 148. Exemptions for disclosure.

   8. 149. Registration of listing particulars.

   9. 150. Compensation for false or misleading particulars.

   10. 151. Exemption from liability to pay compensation.

   11. 152. Persons responsible for particulars.

   12. 153. Obligations of issuers of listed securities.

   13. 154. Advertisements etc. in connection with listing applications.

   14. 154A. Application of Part IV to prospectuses.

   15. 155. Fees.

   16. 156. Listing rules: general provisions.

   17. 156A. Approval of prospectus where no application for listing.

   18. 156B. Publication of prospectus.

   19. 157. Alteration of competent authority.

6. Part V

   1. 158. Preliminary.

   2. 159. Offers of securities on admission to approved exchange.

   3. 160. Other offers of securities.

   4. 160A. Exemptions.

   5. 161. Exceptions.

   6. 162. Form and content of prospectus.

   7. 163. General duty of disclosure in prospectus.

   8. 164. Supplementary prospectus.

   9. 165. Exemptions from disclosure.

   10. 166. Compensation for false or misleading prospectus.

   11. 167. Exemption from liability to pay compensation.

   12. 168. Persons responsible for prospectus.

   13. 169. Terms and implementation of offer.

   14. 170. Advertisements by private companies and old public companies.

   15. 171. Contraventions.

7. Part VI Takeover Offers

   1. 172. Takeover offers.

8. Part VII Insider Dealing

   1. 173. Information obtained in official capacity: public bodies etc.

   2. 174. Market makers, off-market dealers etc.

   3. 175. Price stabilisation.

   4. 176. Contracts for differences by reference to securities.

   5. 177. Investigations into insider dealing.

   6. 178. Penalties for failure to co-operate with s. 177 investigations.

9. Part VIII Restrictions on Disclosure of Information

   1. 179. Restrictions on disclosure of information.

   2. 180. Exceptions from restrictions on disclosure.

   3. 181. Directions restricting disclosure of information overseas.

   4. 182. Disclosure of information under enactments relating to fair trading, banking, insurance and companies.

10. Part IX Reciprocity

    1. 183. Reciprocal facilities for financial business.

    2. 184. Investment and insurance business.

    3. 185. Banking business.

    4. 186. Variation and revocation of notices.

11. Part X Miscellaneous and Supplementary

    1. 187. Exemption from liability for damages.

    2. 188. Jurisdiction of High Court and Court of Session.

    3. 189. Restriction of Rehabilitation of Offenders Act 1974.

    4. 190. Data protection.

    5. 191. Occupational pension schemes.

    6. 192. International obligations.

    7. 193. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    8. 194. Transfers to or from recognised clearing houses.

    9. 195. Offers of short-dated debentures.

    10. 196. Financial assistance for employees’ share schemes.

    11. 197. Disclosure of interests in shares: interest held by market maker.

    12. 198. Power to petition for winding up etc. on information obtained under Act.

    13. 199. Powers of entry.

    14. 200. False and misleading statements.

    15. 201. Prosecutions.

    16. 202. Offences by bodies corporate, partnerships and unincorporated associations.

    17. 203. Jurisdiction and procedure in respect of offences.

    18. 204. Service of notices.

    19. 205. General power to make regulations.

    20. [205A. Supplementary provisions with respect to subordinate legislation.

    21. 206. Publication of information and advice.

    22. 207. Interpretation.

    23. 208. Gibraltar.

    24. 209. Northern Ireland.

    25. 210. Expenses and receipts.

    26. 211. Commencement and transitional provisions.

    27. 212. Short title, consequential amendments and repeals.

12. SCHEDULES

    1. SCHEDULE 1

       Investments and Investment Business

       1. Part I Investments

          1. Shares etc.

             1. 1. Shares and stock in the share capital of a company....

          2. Debentures

             1. 2. Debentures, including debenture stock, loan stock, bonds, certificates of deposit...

          3. Government and public securities

             1. 3. Loan stock, bonds and other instruments creating or acknowledging indebtedness...

          4. Instruments entitling to shares or securities

             1. 4. Warrants or other instruments entitling the holder to subscribe for...

          5. Certificates representing securities

             1. 5. Certificates or other instruments which confer— (a) property rights in...

          6. Units in collective investment scheme

             1. 6. Units in a collective investment scheme, including shares in or...

          7. Options

             1. 7. Options to acquire or dispose of— (a) an investment falling...

          8. Futures

             1. 8. Rights under a contract for the sale of a commodity...

          9. Contracts for differences etc.

             1. 9. Rights under a contract for differences or under any other...

          10. Long term insurance contracts

              1. 10. Rights under a contract the effecting and carrying out of...

          11. Rights and interests in investments

              1. 11. Rights to and interests in anything which is an investment...

       2. Part II Activities Constituting Investment Business

          1. Dealing in investments

             1. 12. Buying, selling, subscribing for or underwriting investments or offering or...

          2. Arranging deals in investments

             1. 13. Making, or offering or agreeing to make—

          3. Custody of Investments

             1. 13A. (1) Safeguarding and administering or arranging for the safeguarding and...

          4. Managing investments

             1. 14. Managing, or offering or agreeing to manage, assets belonging to...

          5. Investment advice

             1. 15. Giving, or offering or agreeing to give, to persons in...

          6. Establishing etc. collective investment schemes

             1. 16. Establishing, operating or winding up a collective investment scheme, including...

          7. Sending dematerialised instructions etc

             1. 16A. Sending on behalf of another person dematerialised instructions relating to...

       3. Part III Excluded Activities

          1. Dealings as principal

             1. 17. (1) Paragraph 12 above applies to a transaction which is...

          2. Groups and joint enterprises

             1. 18. (1) Paragraph 12 above does not apply to any transaction...

          3. Sale of goods and supply of services

             1. 19. (1) Subject to sub-paragraph (9) below this paragraph has effect...

          4. Employees’ share schemes

             1. 20. (1) Paragraphs 12 , 13 and 13Aabove do not apply...

          5. Sale of body corporate

             1. 21. (1) Paragraphs 12 and 13 above do not apply to...

          6. Trustees and personal representatives

             1. 22. (1) Paragraph 12 above does not apply to a person...

          7. Dealings in course of non-investment business

             1. 23. (1) Paragraph 12 above does not apply to anything done...

          8. Advice given or arrangements made in course of profession or non-investment business

             1. 24. (1) Paragraph 15 above does not apply to advice—

          9. Custody of group pension funds by certain insurance companies

             1. 24A. (1) Paragraph 13A above does not apply to anything done...

          10. Newspapers

              1. 25. (1) Paragraph 15 above does not apply to advice given...

          11. Advice given in sound, television or cable programmes

              1. 25A. Advice given in television, sound or teletext services

              2. 25B. International Securities Self-regulating organisations

       4. Part IV Additional Exclusions for Persons Without Permanent Place of Business in United Kingdom

          1. Transactions with or through authorised or exempted persons

             1. 26. (1) Paragraph 12 above does not apply to any transaction...

          2. Unsolicited or legitimately solicited transactions etc. with or for other persons

             1. 27. (1) Paragraph 12 above does not apply to any transaction...

       5. Part V Interpretation

          1. 28. (1) In this Schedule— (a) “property” includes currency of the...

          2. 29. For the purposes of this Schedule a transaction is entered...

          3. 30. (1) For the purposes of this Schedule a group shall...

          4. 31. In this Schedule “a joint enterprise” means an enterprise into...

          5. 32. Where a person is an exempted person as respects only...

          6. 33. In determining for the purposes of this Schedule whether anything...

          7. 34. (1) For the purposes of this Schedule arrangements are not...

          8. 35. For the purposes of this Schedule the following are not...

          9. 36. (1) For the purposes of this Schedule, arrangements are not...

          10. 37. For the purposes of this Schedule, arrangements are not a...

          11. 38. For the purpose of this Schedule, arrangements are not prevented...

    2. SCHEDULE 2

       Requirements for Recognition of Self-regulating Organisation

       1. Members to be fit and proper persons

          1. 1. (1) The rules and practices of the organisation must be...

       2. Admission, expulsion and discipline

          1. 2. The rules and practices of the organisation relating to—

       3. Safeguards for investors

          1. 3. (1) The organisation must have rules governing the carrying on...

       4. Taking account of costs of compliance

          1. 3A. The organisation must have satisfactory arrangements for taking account, in...

       5. Monitoring and enforcement

          1. 4. (1) The organisation must have adequate arrangements and resources for...

       6. The governing body

          1. 5. (1) The arrangements of the o2rganisation with respect to the...

       7. Investigation of complaints

          1. 6. (1) The organisation must have effective arrangements for the investigation...

       8. Promotion and maintenance of standards

          1. 7. The organisation must be able and willing to promote and...

    3. SCHEDULE 3

       Requirements for recognition of professional body

       1. Statutory status

          1. 1. The body must— (a) regulate the practice of a profession...

       2. Certification

          1. 2. (1) The body must have rules, practices and arrangements for...

       3. Safeguards for investors

          1. 3. (1) The body must have rules regulating the carrying on...

       4. Taking account of costs of compliance

          1. 3A. The body must have satisfactory arrangements for taking account, in...

       5. Monitoring and enforcement

          1. 4. (1) The body must have adequate arrangements and resources for...

       6. Investigation of complaints

          1. 5. (1) The body must have effective arrangements for the investigation...

       7. Promotion and maintenance of standards

          1. 6. The body must be able and willing to promote and...

    4. SCHEDULE 4

       Requirements for Recognition of Investment Exchange

       1. Financial resources

          1. 1. The exchange must have financial resources sufficient for the proper...

       2. Safeguards for investors

          1. 2. (1) The rules and practices of the exchange must ensure...

       3. Monitoring and enforcement

          1. 3. (1) The exchange must have adequate arrangements and resources for...

       4. Investigation of complaints

          1. 4. The exchange must have effective arrangements for the investigation of...

       5. Promotion and maintenance of standards

          1. 5. The exchange must be able and willing to promote and...

       6. Supplementary

          1. 6. (1) The provisions of this Schedule relate to an exchange...

    5. SCHEDULE 5

       Listed Money Market Institutions

       1. Part I Transactions not Subject to Monetary Limit

          1. 1. This Part of this Schedule applies to any transaction entered...

          2. 2. (1) A transaction falls within this paragraph if it is...

          3. 3. (1) A transaction falls within this paragraph if it is...

       2. Part II Transactions Subject to Monetary Limit

          1. 4. (1) This Part of this Schedule applies to any transaction...

          2. 5. (1) In the case of a transaction falling within paragraph...

          3. 6. The conditions in paragraph 5 above do not apply to...

          4. 7. In the case of a transaction falling within paragraph 3...

          5. 8. The monetary limits mentioned in this Part of this Schedule...

       3. Part III Transactions arranged by Listed Institutions

          1. 9. Subject to paragraphs 10 and 11 below, this Part of...

          2. 10. In the case of a transaction falling within paragraph 2...

          3. 11. In the case of a transaction falling within paragraph 3...

    6. SCHEDULE 6

       The Financial Services Tribunal

       1. Term of office of members

          1. 1. (1) Subject to the following provisions of this paragraph, a...

       2. Expenses

          1. 2. The Secretary of State shall pay to the persons serving...

       3. Staff

          1. 3. The Secretary of State may provide the Tribunal with such...

       4. Procedure

          1. 4. (1) The Secretary of State may make rules for regulating...

       5. Evidence

          1. 5. (1) The Tribunal may by summons require any person to...

       6. Appeals and supervision by Council on Tribunals

          1. 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

       7. Parliamentary disqualification

          1. 7. (1) In Part III of Schedule 1 to the House...

    7. SCHEDULE 7

       Qualifications of Designated Agency

       1. Constitution

          1. 1. (1) The constitution of the agency must provide for it...

       2. Arrangements for discharge of functions

          1. 2. (1) The agency’s arrangements for the discharge of its functions...

       3. Taking account of costs of compliance

          1. 2A. (1) The agency must have satisfactory arrangements for taking account,...

       4. Monitoring and enforcement

          1. 3. (1) The agency must have a satisfactory system—

       5. Investigation of complaints

          1. 4. (1) The agency must have effective arrangements for the investigation...

       6. Promotion and maintenance of standards

          1. 5. The agency must be able and willing to promote and...

       7. Records

          1. 6. The agency must have satisfactory arrangements for recording decisions made...

    8. SCHEDULE 8

       Principles applicable to Designated Agency’s Legislative Provisions

       1. Introduction

          1. 1. (1) In this Schedule “legislative provisions” means the provisions of...

       2. Standards

          1. 1A. The conduct of business provisions and the other legislative provisions...

          2. 2. The conduct of business provisions must make proper provision for...

          3. 3. The conduct of business provisions must make proper provision for...

          4. 4. The conduct of business provisions must make proper provision for...

       3. Disclosure

          1. 5. The conduct of business provisions must make proper provision for...

          2. 6. The conduct of business provisions must make proper provision for...

          3. 7. The conduct of business provisions, or those provisions and provisions...

          4. 8. Provisions made for the purposes of section 48 of this...

       4. Protection

          1. 9. The conduct of business provisions and any provisions made for...

          2. 10. Provisions made for the purposes of sections 53 and 54...

       5. Records

          1. 11. The conduct of business provisions must require the keeping of...

       6. Classes of investors

          1. 12. The conduct of business provisions and the other provisions made...

    9. SCHEDULE 9

       Designated Agencies: Status and Exercise of Transferred Functions

       1. Status

          1. 1. (1) A designated agency shall not be regarded as acting...

       2. Exemption from requirement of “limited" in name of designated agency

          1. 2. (1) A company is exempt from the requirements of the...

       3. The Tribunal

          1. 3. (1) Where a case is referred to the Tribunal by...

       4. Legislative functions

          1. 4. (1) A designated agency shall send the Secretary of State...

          2. 5. Paragraphs 6 to 9 below have effect instead of section...

          3. 6. Any such power is exercisable by instrument in writing and...

          4. 7. The instrument shall specify the provision of this Act or,...

          5. 8. (1) Immediately after an instrument is issued or made it...

          6. 9. (1) The production of a printed copy of an instrument...

       5. Fees

          1. 10. (1) A designated agency may retain any fees payable to...

          2. 11. If the function of prescribing the amount of any fee,...

       6. Consultation

          1. 12. (1) Where a designated agency proposes, in the exercise of...

       7. Exchange of information

          1. 13. (1) The Secretary of State may communicate to a designated...

    10. SCHEDULE 10

        Regulated Insurance Companies

        1. Preliminary

           1. 1. In this Part of this Schedule “a regulated insurance company”...

        2. Authorisations for investment business and insurance business

           1. 2. (1) An insurance company to which section 22 of this...

        3. Recognition of self-regulating organisation with insurance company members

           1. 3. (1) In the case of a self-regulating organisation whose members...

        4. Modification of provisions as to conduct of investment business

           1. 4. (1) The rules under section 48 of this Act shall...

        5. Restriction of provisions as to conduct of insurance business

           1. 5. (1) Regulations under section 72 of the Insurance Companies Act...

        6. Exercise of powers of intervention etc.

           1. 6. (1) The powers conferred by Chapter VI of Part I...

        7. Withdrawal of insurance business authorisation

           1. 7. (1) At the end of section 11(2)(a) of the Insurance...

        8. Termination of investment business authorisation of insurer established in other member State

           1. 8. (1) Sections 33(1)(b) and 34 of this Act shall not...

        9. Powers of Tribunal

           1. 9. In the case of a regulated insurance company the provisions...

        10. Consultation with designated agencies

            1. 10. (1) Where any functions under this Act are for the...

    11. SCHEDULE 11

        Friendly Societies

        1. Part I Preliminary

           1. 1. In this Schedule— “a regulated friendly society” means a society...

        2. Part II Self-Regulating Organisations for Friendly Societies

           1. Recognition

              1. 2. (1) A self-regulating organisation for friendly societies may apply to...

              2. 3. (1) If, on an application duly made in accordance with...

              3. 4. (1) The requirements referred to in paragraph 3 above are...

           2. Revocation of recognition

              1. 5. (1) A recognition order may be revoked by a further...

           3. Compliance orders

              1. 6. (1) If at any time it appears to the Commission—...

              2. 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

              3. 8. (1) The Commission or the Secretary of State may make...

              4. 9. (1) A recognised self-regulating organisation for friendly societies shall not...

           4. Prevention of restrictive practices

              1. 10. (1) The powers conferred by sub-paragraph (2) below shall be...

           5. Fees

              1. 11. (1) An applicant for a recognition order under paragraph 3...

           6. Application of provisions of this Act

              1. 12. (1) Subject to the following provisions of this paragraph, sections...

        3. Part III Registrar’s Powers in Relation to Regulated Friendly Societies

           1. Special provisions for regulated friendly societies

              1. 13. Paragraphs 13A to 25 below shall have effect in connection...

           2. Conduct of investment business

              1. 13A. (1) The Commission may issue statements of principle with respect...

              2. 13B. (1) The relevant regulatory authority may on the application of...

              3. 14. (1) The rules under section 48 of this Act shall...

              4. 15. (1) The rules under section 51 of this Act shall...

              5. 16. (1) Regulations under section 52 of this Act shall not...

              6. 17. (1) Rules under section 53 of this Act shall not...

              7. 18. (1) No scheme established by rules under section 54 shall...

              8. 19. (1) Regulations under section 55 of this Act shall not...

              9. 20. (1) Regulations under section 56(1) of this Act shall not...

              10. 21. (1) If it appears to the Commission that a regulated...

              11. 22. (1) If on the application of the Commission the court...

              12. 22A. (1) No action in respect of a contravention to which...

              13. 22B. (1) The Commission may in rules and regulations under—

              14. 22C. (1) A recognised self-regulating organisation for friendly societies may on...

              15. 22D. (1) The Commission may issue codes of practice with respect...

           3. Intervention, information and investigations

              1. 23. (1) The powers conferred by Chapter VI of Part I...

              2. 24. (1) The Commission may by notice in writing require any...

              3. 25. (1) Where a notice or copy of a notice is...

           4. Exercise of powers under enactments relating to friendly societies

              1. 26. (1) If it appears to the Commission that a regulated...

              2. 27. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        4. Part IV Transfer of Registrar’s Functions

           1. 28. (1) If it appears to the Commission—

           2. 29. (1) The Commission shall not make a transfer order transferring...

           3. 30. (1) The Commission shall also before making a transfer order...

           4. 31. (1) Subject to the provisions of this paragraph, sections 115,...

           5. 31A. (1) Where any functions under this Act are for the...

           6. 32. A transferee body shall at least once in each year...

           7. 33. (1) This paragraph applies where the function of making or...

           8. 34. (1) A transferee body to which the Commission has transferred...

           9. 35. (1) A transferee body shall not impose any prohibition or...

           10. 36. (1) The Secretary of State shall not consent to the...

           11. 37. (1) If a transferee body has reasonable grounds for believing...

        5. Part V Miscellaneous and Supplemental

           1. 38. (1) The Commission may publish information or give advice, or...

           2. 39. In the case of an application for authorisation under section...

           3. 40. Where the other person mentioned in paragraph (c) of the...

           4. 40A. (1) In the case of an application for authorisation under...

           5. 41. In relation to any such document as is mentioned in...

           6. 42. Rules under paragraphs 14, 15, 17 and 18 above and...

           7. 43. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

           8. 44. (1) In Part III of Schedule 1 to the House...

           9. 45. (1) Any power of the Commission to make regulations, rules...

    12. SCHEDULE 11A

        OFFERS OF SECURITIES TO THE PUBLIC IN THE UNITED KINGDOM

        1. 1. A person offers securities to the public in the United...

        2. 2. This paragraph applies in relation to an offer of securities...

        3. 3. (1) The following are the conditions specified in this sub-paragraph—...

        4. 4. (1) This paragraph applies in relation to an offer where...

    13. SCHEDULE 12

        Takeover Offers: Provisions Substituted for Sections 428, 429 and 430 of Companies Act 1985

    14. SCHEDULE 13

        Disclosure of Information

        1. 1. In section 133(2)(a) of the Fair Trading Act 1973 after...

        2. 2. In section 41(1)(a) of the Restrictive Trade Practices Act 1976...

        3. 3, 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        4. 5. At the end of section 19(3) of the Competition Act...

        5. 6. For subsections (1) and (2) of section 47A of the...

        6. 7. After subsection (1) of section 437 of the Companies Act...

        7. 8. In section 446 of that Act— (a) in subsection (3)...

        8. 9. (1) In subsection (1) of section 449 of that Act—...

        9. 10. After section 451 of that Act there shall be inserted—...

        10. 11. After Article 430(1) of the Companies (Northern Ireland) Order 1986...

        11. 12. In Article 439 of that Order— (a) in paragraph (3)...

        12. 13. (1) In paragraph (1) of Article 442 of that Order—...

        13. 14. After Article 444 of that order there shall be inserted—...

    15. SCHEDULE 14

        Restriction of Rehabilitation of Offenders Act 1974

        1. Part I Exempted Proceedings

           1. 1. Any proceedings with respect to a decision or proposed decision...

           2. 2. Any proceedings with respect to a decision or proposed decision...

           3. 3. (1) Any proceedings with respect to a decision or proposed...

           4. 4. Any proceedings with respect to a decision or proposed decision...

           5. 5. Any proceedings with respect to a decision or proposed decision...

           6. 6. Any proceedings with respect to a decision or proposed decision...

        2. Part II Exempted Questions

        3. Part III Exempted Actions

        4. Part IV Supplemental

           1. 1. In Part I of this Schedule “proceedings” includes any proceedings...

           2. 2. In Parts II and III of this Schedule—

           3. 3. Paragraph 1(d) of Part II of this Schedule and so...

    16. SCHEDULE 15

        Transitional Provisions

        1. Interim authorisation

           1. 1. (1) If before such day as is appointed for the...

        2. Return of fees on pending applications

           1. 2. Any fee paid in respect of an application under section...

        3. Deposits and undertakings

           1. 3. The repeal of section 4 of the previous Act shall...

        4. Interim recognition of professional bodies

           1. 4. (1) If on an application made under section 17 of...

        5. Interim authorisation by recognised professional bodies

           1. 5. (1) If at the time when an interim recognition order...

        6. Power of recognised professional body to make rules required by this Act.

           1. 6. (1) Where a recognised professional body regulates the practice of...

        7. Notice of commencement of business

           1. 7. In the case of a person who is carrying on...

        8. Advertisements

           1. 8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        9. Authorised unit trust schemes

           1. 9. (1) Where an order under section 17 of the previous...

        10. Recognised collective investment schemes

            1. 10. (1) If at any time before the coming into force...

            2. 11. (1) Subsection (7) of section 88 of this Act shall...

        11. Delegation orders

            1. 12. (1) A delegation order may transfer a function notwithstanding that...

        12. Disclosure of information

            1. 13. In determining for the purposes of section 180(6) of this...

        13. Temporary exemptions for friendly societies

            1. 14. (1) A . . . friendly society which transacts no...

        14. Dealings in course of non-investment business

            1. 15. If before the day on which section 3 of this...

        15. Northern Ireland

            1. 16. The foregoing provisions shall apply to Northern Ireland with the...

    17. SCHEDULE 16

        Consequential Amendments

        1. 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        2. 2. In the Trustee Investments Act 1961— (a) in section 11(3)...

        3. 3. In section 32 of the Clergy Pensions Measure 1961 No....

        4. 4. In the Stock Transfer Act 1963— (a) for paragraph (e)...

        5. 5. In the Stock Transfer Act (Northern Ireland) 1963—

        6. 6. In section 25 of the Charities Act (Northern Ireland) 1964—...

        7. 7. In the Local Authorities’ Mutual Investment Trust Act 1968—

        8. 8. In the Local Government Act 1972— (a) in section 98(1)...

        9. 9. For subsection (1) of section 42 of the Local Government...

        10. 10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        11. 11. For paragraph 20 of Schedule 1 to the Scottish Development...

        12. 12. For paragraph 21 of Schedule 1 to the Welsh Development...

        13. 13. In section 3(5) of the Aircraft and Shipbuilding Industries Act...

        14. 14. In paragraph 10(1)(c) of Part II of Schedule 10 to...

        15. 15. For the definition of “securities” in section 3(6) of the...

        16. 16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        17. 17. In section 163 of the Companies Act 1985—

        18. 18. In section 209(1)(c) of the Companies Act 1985 for the...

        19. 19. In section 265(4)(a) of the Companies Act 1985 for the...

        20. 20. In section 329(1) of the Companies Act 1985 for the...

        21. 21. For paragraphs (a) to (c) of section 446(4) of the...

        22. 22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        23. 23. In Schedule 4 to the Companies Act 1985—

        24. 24. In Schedule 9 to the Companies Act 1985 in paragraphs...

        25. 25. In paragraph 11 of Schedule 13 to the Companies Act...

        26. 26. In Schedule 22 to the Companies Act 1985, in the...

        27. 27. In Schedule 24 to the Companies Act 1985—

        28. 28. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        29. 29. For paragraph (c) of section 10(1) of the Bankruptcy (Scotland)...

        30. 30. In section 101 of the Building Societies Act 1986—

        31. 31. In Article 107 of the Companies (Northern Ireland) Order 1986—...

        32. 32. In Article 173 of the Companies (Northern Ireland) Order 1986—...

        33. 33. In Article 217(1)(b) of the Companies (Northern Ireland) Order 1986...

        34. 34. In Article 273(4)(a) of the Companies (Northern Ireland) Order 1986...

        35. 35. In Article 337(1) of the Companies (Northern Ireland) Order 1986...

        36. 36. For sub-paragraphs (a) to (c) of Article 439(4) of the...

        37. 37. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

        38. 38. In Schedule 4 to the Companies (Northern Ireland) Order 1986—...

        39. 39. In Schedule 9 to the Companies (Northern Ireland) Order 1986,...

        40. 40. In paragraph 11 of Schedule 13 to the Companies (Northern...

        41. 41. In Schedule 21 to the Companies (Northern Ireland) Order 1986...

        42. 42. In Schedule 23 to the Companies (Northern Ireland) Order 1986...

        43. 43. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    18. SCHEDULE 17

        Repeals and Revocations

        1. Part I Enactments

        2. Part II Instruments