Search Legislation

Financial Services and Markets Act 2000

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Paragraph 14

 Help about opening options

Alternative versions:

Changes to legislation:

Financial Services and Markets Act 2000, Paragraph 14 is up to date with all changes known to be in force on or before 09 March 2025. 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. Help about Changes to Legislation

This section has no associated Explanatory Notes

14(1)Schedule 8 to the 1992 Act (provisions supplementing section 13) is amended as follows.U.K.

(2)Omit paragraph 3(2).

(3)After paragraph 3 insert—

3A(1)A body is to be treated for the purposes of section 13(9) as having the right to appoint to a directorship if—

(a)a person’s appointment to the directorship follows necessarily from his appointment as an officer of that body; or

(b)the directorship is held by the body itself.

(2)A body (“B”) and some other person (“P”) together are to be treated, for the purposes of section 13(9), as having the right to appoint to a directorship if—

(a)P is a body corporate which has directors and a person’s appointment to the directorship follows necessarily from his appointment both as an officer of B and a director of P;

(b)P is a body corporate which does not have directors and a person’s appointment to the directorship follows necessarily from his appointment both as an officer of B and as a member of P’s managing body; or

(c)the directorship is held jointly by B and P.

(3)For the purposes of section 13(9), a right to appoint (or remove) which is exercisable only with the consent or agreement of another person must be left out of account unless no other person has a right to appoint (or remove) in relation to that directorship.

(4)Nothing in this paragraph is to be read as restricting the effect of section 13(9).

(4)In paragraph 9 (exercise of certain rights under instruction by, or in the interests of, incorporated friendly society) insert at the end “ or in the interests of any body over which the society has joint control ”.

Back to top

Options/Help