- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (01/10/2008)
- Gwreiddiol (Fel y'i Deddfwyd)
Version Superseded: 24/01/2013
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Financial Services and Markets Act 2000, Section 100 is up to date with all changes known to be in force on or before 10 September 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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(1)In determining its policy with respect to the amount of penalties to be imposed by it under this Part, the competent authority must take no account of the expenses which it incurs, or expects to incur, in discharging its functions under this Part.
(2)The competent authority must prepare and operate a scheme for ensuring that the amounts paid to it by way of penalties imposed under this Part are applied for the benefit of issuers of securities admitted to the official list [F1, and issuers who have requested or approved the admission of financial instruments to trading on a regulated market.]
(3)The scheme may, in particular, make different provision with respect to different classes of issuer.
(4)Up to date details of the scheme must be set out in a document (“the scheme details”).
(5)The scheme details must be published by the competent authority in the way appearing to it to be best calculated to bring them to the attention of the public.
(6)Before making the scheme, the competent authority must publish a draft of the proposed scheme in the way appearing to it to be best calculated to bring it to the attention of the public.
(7)The draft must be accompanied by notice that representations about the proposals may be made to the competent authority within a specified time.
(8)Before making the scheme, the competent authority must have regard to any representations made to it under subsection (7).
(9)If the competent authority makes the proposed scheme, it must publish an account, in general terms, of—
(a)the representations made to it in accordance with subsection (7); and
(b)its response to them.
(10)If the scheme differs from the draft published under subsection (6) in a way which is, in the opinion of the competent authority, significant the competent authority must (in addition to complying with subsection (9)) publish details of the difference.
(11)The competent authority must, without delay, give the Treasury a copy of any scheme details published by it.
(12)The competent authority may charge a reasonable fee for providing a person with a copy of—
(a)a draft published under subsection (6);
(b)scheme details.
(13)Subsections (6) to (10) and (12) apply also to a proposal to alter or replace the scheme.
Textual Amendments
F1Words in s. 100(2) inserted (1.7.2005) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2005 (S.I. 2005/381), regs. 1(2), 4, Sch. 1 para. 9
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