Amendment of the Exceptions Order
5.—(1) The Rehabilitation of Offenders Act 1974 (Exceptions) Order 1975() is amended as follows.
(2) In article 2(1) (interpretation)—
(a)after the definition of “the Act”, insert—
““insurer” means any person who is carrying on a regulated activity of the kind specified by article 10(1) or (2) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (effecting and carrying out contracts of insurance) but who is not—
(a)
exempt from the general prohibition (within the meaning of the Financial Services and Markets Act 2000) in respect of that regulated activity;
(b)
a friendly society (within the meaning of that Act); or
(c)
a person who effects or carries out contracts or insurance all of which fall within paragraphs 14 to 18 of Part I of Schedule 1 to that Order in the course of, or for the purposes of, a banking business;
and, in relation to an insurer, “director” has the meaning given by section 417 of that Act, “controller” has the meaning given by section 422 of that Act and “manager” has the meaning given by section 423 of that Act;
“Part IV permission” has the meaning given by section 417 of the Financial Services and Markets Act 2000;”;
(b)omit the definition of the “Building Societies Commission” and, after the definition of “relevant offence”, ““authorisation”,”.
(3) In article 3 (exceptions from section 4(2) of the Rehabilitation of Offenders Act 1974), in paragraph (ab), for “Building Societies Commission” substitute “Financial Services Authority”.
(4) In article 4 (exceptions from section 4(3)(b) of the Act), for sub-paragraphs (i) to (iii) of paragraph (d) substitute—
“(i)the refusal by the Financial Services Authority to give a building society Part IV permission to accept deposits;
(ii)the cancellation by the Financial Services Authority of the Part IV permission of a building society to accept deposits;
(iii)the imposition by the Financial Services Authority of a requirement that relates to the Part IV permission of a building society to accept deposits;”.
(5) For article 5(2) (exceptions from section 4(1) of the Act), substitute—
“(2) The proceedings referred to in paragraph (1) are—
(a)any proceedings before the Financial Services Authority—
(i)on an application by a building society for Part IV permission to accept deposits;
(ii)for the cancellation of the Part IV permission of a building society to accept deposits;
(iii)for the imposition of a requirement that relates to the Part IV permission of a building society to accept deposits or for the variation or cancellation of such a requirement; and
(b)any proceedings by way of review of, or reference from, any decision taken by the Financial Services Authority following any proceedings falling within sub-paragraph (a).”.
(6) In Part III of Schedule 1 (regulated occupations), for paragraph 3 substitute—
“3 Director, controller or manager of an insurer.”.
(7) In Part IV of that Schedule (interpretation), omit the definition of “insurance company”.
(8) For paragraph 8 of Schedule 3 (excepted proceedings), substitute—
“8 Proceedings—
(a)in respect of an application under the Financial Services and Markets Act 2000 for Part IV permission to effect or carry out contracts of insurance;
(b)in respect of a decision or proposed decision to impose a requirement under Part IV of that Act on an insurer on the ground that a director or a manager of that person is not, or may not be, a fit and proper person;
(c)in relation to a notice of control given under section 178 of that Act (acquiring or increasing control) in respect of an insurer.”.