Financial Services and Markets Act 2000

Part I The Regulator

1 The Financial Services Authority.

The Authority’s general duties

2 The Authority’s general duties.

The regulatory objectives

3 Market confidence.

3A Financial stability

4 Public awareness.

5 The protection of consumers.

6 The reduction of financial crime.

Enhancing public understanding of financial matters etc

6AEnhancing public understanding of financial matters etc

Corporate governance

7 Duty of Authority to follow principles of good governance.

Arrangements for consulting practitioners and consumers

8 The Authority’s general duty to consult.

9 The Practitioner Panel.

10 The Consumer Panel.

11 Duty to consider representations by the Panels.

13 Right to obtain documents and information.

14 Cases in which the Treasury may arrange independent inquiries.

15 Power to appoint person to hold an inquiry.

16 Powers of appointed person and procedure.

17 Conclusion of inquiry.

18 Obstruction and contempt.

PART 1AThe Regulators

CHAPTER 1The Financial Conduct Authority

The Financial Conduct Authority

1AThe Financial Conduct Authority

The FCA's general duties

1BThe FCA's general duties

1CThe consumer protection objective

1DThe integrity objective

1EThe competition objective

1EBCompetitiveness and growth objective

Interpretation of terms used in relation to FCA's general duties

1FMeaning of “relevant markets” in strategic objective

1GMeaning of “consumer”

1HFurther interpretative provisions for sections 1B to 1G

1IMeaning of “the UK financial system”

Modifications applying if core activity not regulated by PRA

1IAModifications applying if core activity not regulated by PRA

Power to amend objectives

1JPower to amend objectives

Recommendations

1JARecommendations by Treasury in connection with general duties

Guidance about objectives

1KGuidance about objectives

Supervision, monitoring and enforcement

1LSupervision, monitoring and enforcement

Arrangements for consulting practitioners and consumers

1MThe FCA's general duty to consult

1MAComposition of Panels

1NThe FCA Practitioner Panel

1OThe Smaller Business Practitioner Panel

1PThe Markets Practitioner Panel

1QThe Consumer Panel

1QAThe Listing Authority Advisory Panel

1RDuty to consider representations made by the Panels

1RAStatement of policy on panel appointments

Requirements for public consultation

1RBRequirements in connection with public consultations

1TRight to obtain documents and information

CHAPTER 2The Prudential Regulation Authority

The Prudential Regulation Authority

2AThe Prudential Regulation Authority

2ABFunctions of the PRA

The PRA's general duties

2BThe PRA's general objective

2CInsurance objective

2DPower to provide for additional objectives

2FInterpretation of references to objectives

2GLimit on effect of sections 2B to 2D

2HSecondary objectives and duty to have regard to regulatory principles

2IGuidance about objectives

2JInterpretation of Chapter 2

2KArrangements for supervision of PRA-authorised persons

Arrangements for consulting practitioners

2LThe PRA's general duty to consult

2LAComposition of Panels

2MThe PRA Practitioner Panel

2MAThe Insurance Practitioner Panel

2NDuty to consider representations

2NAStatement of policy on panel appointments

Requirements for public consultation

2NBRequirements in connection with public consultations

2PRight to obtain documents and information

CHAPTER 3Further provisions relating to FCA and PRA

3AMeaning of “regulator”

Regulatory principles

3BRegulatory principles to be applied by both regulators

Corporate governance

3CDuty to follow principles of good governance

Relationship between FCA and PRA

3DDuty of FCA and PRA to ensure co-ordinated exercise of functions

3EMemorandum of understanding

3FWith-profits insurance policies

3GPower to establish boundary between FCA and PRA responsibilities

3HParliamentary control of orders under section 3G

Power of PRA to restrain proposed action by FCA

3IPower of PRA to require FCA to refrain from specified action

3JPower of PRA in relation to with-profits policies

3KRevocation of directions under section 3I or 3J

3LFurther provisions about directions under section 3I or 3J

Directions relating to consolidated supervision

3MDirections relating to consolidated supervision of groups

3NRevocation of directions under section 3M

3OFurther provisions about directions under section 3M

3PConsultation by regulator complying with direction

Co-operation with Bank of England

3QCo-operation by FCA ... with Bank of England

Arrangements for provision of services

3RArrangements for provision of services

3RADuty of FCA and PRA to review rules

3RBStatement of policy relating to review of rules

3RCRequirement to review specified rules

3RDReport on certain reviews

3REPower of Treasury to require making of rules by regulations

Enhancing public understanding of financial matters etc.

3SThe consumer financial education body

3TInterpretation

Part II Regulated And Prohibited Activities

The general prohibition

19 The general prohibition.

Requirement for permission

20 Authorised persons acting without permission.

Financial promotion

21Restrictions on financial promotion.

Regulated activities

22Regulated activities

22ADesignation of activities requiring prudential regulation by PRA

22BParliamentary control in relation to certain orders under section 22A

23Contravention of the general prohibition or section 20(1) or (1A).

23AParliamentary control in relation to certain orders under section 23

24 False claims to be authorised or exempt.

25Contravention of section 21.

Enforceability of agreements

26 Agreements made by unauthorised persons.

26AAgreements relating to credit

27 Agreements made through unauthorised persons.

28 Agreements made unenforceable by section 26 or 27: general cases.

28ACredit-related agreements made unenforceable by section 26, 26A or 27

28BDecisions under section 28A: procedure

29 Accepting deposits in breach of general prohibition.

30 Enforceability of agreements resulting from unlawful communications.

Part III Authorisation and Exemption

31 Authorised persons.

32 Partnerships and unincorporated associations.

Ending of authorisation

33 Withdrawal of authorisation ....

35 Treaty firms.

36Authorised open-ended investment companies

Exercise of EEA rights by UK firms

37 Exercise of EEA rights by UK firms.

38 Exemption orders.

39 Exemption of appointed representatives.

39ACertain tied agents operating outside United Kingdom

Part IV Permission to Carry on Regulated Activities

Application for permission

40 Application for permission.

41 The threshold conditions.

42 Giving permission.

43 Imposition of requirements.

Variation and cancellation of Part IV permission

44 Variation etc. at request of authorised person.

45 Variation etc. on the Authority’s own initiative.

46 Variation of permission on acquisition of control.

47 Exercise of power in support of overseas regulator.

48 Prohibitions and restrictions.

Connected persons

49 Persons connected with an applicant.

Additional permissions

50 Authority’s duty to consider other permissions etc.

51 Applications under this Part.

52 Determination of applications.

53 Exercise of own-initiative power: procedure.

54 Cancellation of Part IV permission: procedure.

54ANotification of ESMA

54BNotification of EBA

References to the Tribunal

55 Right to refer matters to the Tribunal.

PART 4APermission to carry on regulated activities

Application for permission

55AApplication for permission

55BThe threshold conditions

55CPower to amend Schedule 6

55DFirms based outside the United Kingdom

55EGiving permission: the FCA

55FGiving permission: the PRA

55GGiving permission: special cases

Variation and cancellation of Part 4A permission

55HVariation by FCA at request of authorised person

55IVariation by PRA at request of authorised person

55JVariation or cancellation on initiative of regulator

55JAVariation or cancellation on initiative of FCA: additional power

55KInvestment firms: particular conditions that enable cancellation

55KAInsurance undertakings, reinsurance undertakings and third-country insurance undertakings: particular conditions that enable cancellation

Imposition and variation of requirements

55LImposition of requirements by FCA

55MImposition of requirements by PRA

55NRequirements under section 55L or 55M: further provisions

55NAGeneral requirement relating to financial promotion approval

55NBSection 55NA: power to provide for exemptions

55OImposition of requirements on acquisition of control

55PProhibitions and restrictions

55PAAssets requirements imposed on insurance undertakings or reinsurance undertakings

55PBRequirements relating to general meetings

Exercise of power in support of overseas regulator

55QExercise of power in support of overseas regulator

Connected persons

55RPersons connected with an applicant

Additional permissions

55SDuty of FCA or PRA to consider other permissions

Persons whose interests are protected

55TPersons whose interests are protected

55UApplications under this Part

55VDetermination of applications

55WApplications under this Part: communications between regulators

55XDetermination of applications: warning notices and decision notices

55XAApplications relating to administering a benchmark

55YExercise of own-initiative power: procedure

55ZCancellation of Part 4A permission or permission under section 55NA: procedure

55Z1Notification of ESMA

55Z2Notification of EBA

55Z2ANotification of the European bodies

References to the Tribunal

55Z3Right to refer matters to the Tribunal

55Z4Interpretation of Part 4A

Part V Performance of Regulated Activities

Prohibition orders

56Prohibition orders.

57Prohibition orders: procedure and right to refer to Tribunal.

58 Applications relating to prohibitions: procedure and right to refer to Tribunal.

59 Approval for particular arrangements.

59ZASenior management functions

59ZBDesignated senior management functions

59ASpecifying functions as controlled functions: supplementary

59ABSpecifying functions as controlled functions: transitional provision

59BRole of FCA in relation to PRA decisions

60 Applications for approval.

60AVetting of candidates by relevant authorised persons

61 Determination of applications.

62 Applications for approval: procedure and right to refer to Tribunal.

62AChanges in responsibilities of senior managers

63 Withdrawal of approval.

63ZAVariation of senior manager's approval at request of relevant authorised person

63ZBVariation of senior manager's approval on initiative of regulator

63ZCExercise of power under section 63ZB: procedure

63ZDStatement of policy relating to conditional approval and variation

63ZEStatement of policy: procedure

Performance of controlled functions without approval

63APower to impose penalties

63BProcedure and right to refer to Tribunal

63CStatement of policy

63DStatement of policy: procedure

Certification of employees

63ECertification of employees by ... authorised persons

63FIssuing of certificates

64 Conduct: statements and codes.

65 Statements and codes: procedure.

Conduct of approved persons and others

64ARules of conduct

64BRules of conduct: responsibilities of ... authorised persons

64CRequirement for ... authorised persons to notify regulator of disciplinary action

66Disciplinary powers.

66AMisconduct: action by the FCA

66BMisconduct: action by the PRA

67Disciplinary measures: procedure and right to refer to Tribunal.

69Statement of policy.

70Statements of policy: procedure.

Breach of statutory duty

71 Actions for damages.

“Relevant authorised person”

71AMeaning of “relevant authorised person”

Removal of directors and senior executives and appointment of temporary manager

71BRemoval of directors and senior executives

71CTemporary manager

71DSections 71B and 71C: conditions

71ETemporary manager: further provisions in relation to the appointment

71FTemporary manager: instrument of appointment

71GRight to refer matters to the Tribunal

71HRemoval of directors and senior executives and appointment of temporary manager: procedure

71ISections 71B to 71H: interpretation

PART 5ADesignated activities

71KDesignated activities

71LRestrictions on carrying on of designated activities

71MDesignated activity regulations: general

71NDesignated activities: rules

71ODesignated activities: directions

71PDesignated activities: liability

71QDesignated activities: enforcement

71RDesignated activities and rules: connected amendments

71SDesignated activities regulations: Parliamentary control

Part VI Official Listing

72 The competent authority.

73 General duty of the competent authority.

73APart 6 Rules

The official list

74 The official list.

75 Applications for listing.

76 Decision on application.

77 Discontinuance and suspension of listing.

78 Discontinuance or suspension: procedure.

78ADiscontinuance or suspension at the request of the issuer: procedure

Listing particulars

79 Listing particulars and other documents.

80 General duty of disclosure in listing particulars.

81 Supplementary listing particulars.

82 Exemptions from disclosure.

83 Registration of listing particulars.

Transferable securities: public offers and admission to trading

84Matters which may be dealt with by prospectus rules

85Prohibition of dealing etc. in transferable securities without approved prospectus

86Exempt offers to the public and admissions to trading

87Election to have prospectus

Approval of prospectus

87ACriteria for approval of prospectus by FCA

87BExemptions from disclosure

87CConsideration of application for approval

87DProcedure for decision to refuse an application for approval

Transfer of application for approval of a prospectus

87ETransfer by FCA of application for approval

87FTransfer to FCA of application for approval

87FAFinal terms

87FBCommunication of final terms by FCA

Supplementary prospectus

87GSupplementary prospectus

87HProspectus approved in another EEA State

87IProvision of information to host Member State

Transferable securities: powers of FCA

87JRequirements imposed as condition of approval

87JAPower to suspend scrutiny of prospectus

87JBPower to refuse approval of a prospectus

87KPower to suspend , restrict or prohibit offer to the public

87LPower to suspend , restrict or prohibit admission to trading on a regulated market

87LAPower of FCA to suspend or prohibit trading on a trading facility

87MPublic censure of issuer

87NRight to refer matters to the Tribunal

87OProcedure under sections 87JA, 87K, 87L and 87LA

87PExercise of powers at request of competent authority of another EEA State

Rights of investors

87QRight of investor to withdraw

Registered investors

87RRegister of investors

89 Public censure of sponsor.

88ADisciplinary powers: contravention of s.88(3)(c) or (e)

88BAction under s.88A: procedure and right to refer to Tribunal

88CAction under s.88A: statement of policy

88DStatement of policy under s.88C: procedure

88EPowers exercisable to advance operational objectives

88FAction under s.88E: procedure

Transparency obligations

89ATransparency rules

89BProvision of voteholder information

89CProvision of information by issuers of transferable securities

89DNotification of voting rights held by issuer

89ENotification of proposed amendment of issuer's constitution

89FTransparency rules: interpretation etc

89GTransparency rules: other supplementary provisions

Power of FCA to call for information

89HFCA's power to call for information

89IRequirements in connection with call for information

89JPower to call for information: supplementary provisions

Powers exercisable in case of infringement of transparency obligation

89KPublic censure of issuer

89LPower to suspend or prohibit trading of securities

89MProcedure under section 89L

89NRight to refer matters to the Tribunal

89NAVoting rights suspension orders

Corporate governance

89OCorporate governance rules

Primary information providers

89PPrimary information providers

89QDisciplinary powers: contravention of s.89P(4)(b) or (d)

89RAction under s.89Q: procedure and right to refer to Tribunal

89SAction under s.89Q: statement of policy

89TStatement of policy under s.89S: procedure

89UPowers exercisable to advance operational objectives

89VAction under s.89U: procedure

89WStorage of regulated information

Compensation for false or misleading statements etc

90Compensation for statements in listing particulars or prospectus

90ZALiability for key investor information

90ALiability of issuers in connection with published information

90BPower to make further provision about liability for published information

91Penalties for breach of Part 6 rules

93 Statement of policy.

94 Statements of policy: procedure.

95 Competition scrutiny.

96 Obligations of issuers of listed securities.

96ADisclosure of information requirements

96BDisclosure rules: persons responsible for compliance

96CSuspension of trading

97 Appointment by FCA of persons to carry out investigations.

97AReporting of infringements

98 Advertisements etc. in connection with listing applications.

100AExercise of powers where UK is host member state

101 Listing rules: general provisions.

102 Exemption from liability in damages.

Interpretative provisions

102AMeaning of “securities” etc.

102BMeaning of “offer of transferable securities to the public” etc.

102CMeaning of “home State” in relation to transferable securities

103Interpretation of this Part

Part VII Control of Business Transfers

103AMeaning of “the appropriate regulator”

104 Control of business transfers.

105 Insurance business transfer schemes.

106 Banking business transfer schemes.

106AReclaim fund business transfer scheme

106BRing-fencing transfer scheme

107 Application for order sanctioning transfer scheme.

108 Requirements on applicants.

109Scheme reports: insurance business transfer schemes

109AScheme reports: ring-fencing transfer schemes

110 Right to participate in proceedings.

111 Sanction of the court for business transfer schemes.

112 Effect of order sanctioning business transfer scheme.

112ZADuty of regulator to provide copy of order

112ARights to terminate etc.

113 Appointment of actuary in relation to reduction of benefits.

114 Rights of certain policyholders.

114ANotice of transfer of reinsurance contracts

Business transfers outside the United Kingdom

115 Certificates for purposes of insurance business transfers overseas.

116 Effect of insurance business transfers authorised in other EEA States.

117 Power to modify this Part.

Part VIII Provisions relating to market abuse

118 Market abuse.

118ASupplementary provision about certain behaviour

118CInside information

120 Provisions included in the FCA's code by reference to the City Code.

121 Codes: procedure.

122 Effect of the code.

Powers to require information and supplemental provisions

122APower to require information from issuers

122BGeneral power to require information

122CPower to require information: supplementary

122DEntry of premises under warrant

122ERetention of documents taken under section 122D

Other administrative powers

122GPublication of information and corrective statements by issuers

122HPublication of corrective statements generally

122HAPublication of corrective statements relating to benchmarks

122IPower to suspend trading in financial instruments

122IAPower to suspend auctioning of auctioned products on a recognised auction platform

Administrative sanctions

123 Power to impose penalties or issue censure

123APower to prohibit individuals from managing or dealing

123BSuspending permission to carry on regulated activities etc

123CExercise of administrative sanctions

Statement of policy

124 Statement of policy.

125 Statement of policy: procedure.

126 Warning notices.

127 Decision notices and right to refer to Tribunal.

127AConsultation with the PRA in relation to administrative sanctions

128 Suspension of investigations.

129 Power of court to impose administrative sanctions in cases of market abuse

130AInterpretation and supplementary provision

131 Effect on transactions.

131AProtected Disclosures

131AAReporting of infringements

131ABInterpretation

131ACMeaning of “persons closely associated” in the market abuse regulation

131ADIndividual liability in respect of legal persons under Articles 8 and 12 of the market abuse regulation

131AELiability for contraventions of Article 14 or 15 of the market abuse regulation

Part 8AShort selling

Short selling rules

131BShort selling rules

131C Short selling rules: definitions etc

131DShort selling rules: procedure in urgent cases

Power to require information

131EPower to require information

131FPower to require information: supplementary

131FAInvestigations in support of overseas regulator

131FBEntry of premises under warrant

131FCRetention of documents taken under section 131FB

Breach of short selling regulation etc

131GPower to impose penalty or issue censure

131HProcedure and right to refer to Tribunal

131IDuty on publication of statement

131JImposition of penalties under section 131G: statement of policy

131KStatement of policy: procedure

PART 8BCash access services

131NCash access services and coordination arrangements

131OCurrent accounts and relevant current account providers

Cash access policy statement

131PCash access policy statement

131QProvision of reports to assist the Treasury

131RDesignation

131SDesignation criteria

131TCancellation or variation of a designation notice

Supervision of designated persons

131UPurpose for which FCA must exercise functions under this Part

131WPower to direct designated persons

131XProcedure for directions

131YInformation gathering and investigations

131ZDisciplinary measures

131Z1Costs of supervision

131Z2Exclusion and modification of other FCA duties

Part IX Hearings and Appeals

132 The Financial Services and Markets Tribunal.

133Proceedings before Tribunal: general provision

133A Proceedings before Tribunal: decision and supervisory notices, etc.

Legal assistance before the Tribunal

134 Legal assistance scheme.

135 Provisions of the legal assistance scheme.

136 Funding of the legal assistance scheme.

PART 9ARules and Guidance

CHAPTER 1Rule-making powers

General rule-making powers of the FCA and the PRA

137AThe FCA's general rules

137AAThe FCA's general rules: Gibraltar

137BFCA general rules: clients' money, right to rescind etc.

137CFCA general rules: cost of credit and duration of credit agreements

137DFCA general rules: product intervention

137EOrders under s.137D(1)(b)

137FRules requiring participation in benchmark

137FAFCA general rules: disclosure of information about pension scheme transaction costs etc

137FAAFCA general rules: pensions dashboards

137FABPensions dashboards: further provision

137FACSections 137FAA and 137FAB: supplementary

137FBFCA general rules: disclosure of information about the availability of pensions guidance

137FBAFCA general rules: advice about transferring or otherwise dealing with annuity payments

137FBBFCA general rules: early exit pension charges

137FCFCA rules: disclosure of information about the availability of financial guidance

137FDFCA general rules: charges for claims management services

137GThe PRA's general rules

137GAThe PRA's general rules: Gibraltar

137HGeneral rules about remuneration

137IRemuneration policies: Treasury direction to consider compliance

137JRules about recovery plans: duty to consult

137KRules about resolution packs: duty to consult

137LInterpretation of sections 137J and 137K

137MSpecial provision relating to adequacy of resolution plans

137NRecovery plans and resolution packs: restriction on duty of confidence

Specific rule-making powers

137OThreshold condition code

137PControl of information rules

137QPrice stabilising rules

137RFinancial promotion rules

137SFinancial promotion rules: directions given by FCA

137SARules to recover expenses relating to the Money and Pensions Service

137SBRules to recover debt advice expenses incurred by the devolved authorities

Supplementary powers

137TGeneral supplementary powers

CHAPTER 2Rules: modification, waiver, contravention and procedural provisions

Modification or waiver of rules

138AModification or waiver of rules

138BPublication of directions under section 138A

138BADisapplication or modification of rules in individual cases

Contravention of rules

138CEvidential provisions

138DActions for damages

138ELimits on effect of contravening rules

Procedural provisions

138EAMatters to consider when making rules

138FNotification of rules

138GRule-making instruments

138HVerification of rules

138IConsultation by the FCA

138IAFCA Cost Benefit Analysis Panel

138IBStatement of policy in relation to cost benefit analyses

138JConsultation by the PRA

138JAPRA Cost Benefit Analysis Panel

138JBStatement of policy in relation to cost benefit analyses

138KConsultation: mutual societies

138LConsultation: general exemptions

138MConsultation: exemptions for temporary product intervention rules

138NTemporary product intervention rules: statement of policy

138OStatement of policy under section 138N: procedure

CHAPTER 2ATechnical Standards

138PTechnical standards

138QStandards instruments

138RTreasury approval

138SApplication of Chapters 1 and 2

CHAPTER 3Guidance

139APower of the FCA to give guidance

139BNotification of FCA guidance to the Treasury

CHAPTER 4Competition scrutiny

140AInterpretation

140BAdvice about effect of regulating provision or practice

140CConsultation with regulator

140DInvestigation powers of CMA

140EPublication by CMA of section 140B advice

140FDuty of CMA to send report to regulator

140GDuty of regulator to publish response

140HRole of the Treasury

CHAPTER 5Power to make consequential amendments

141APower to make consequential amendments of references to rules etc.

141BPower to consequentially amend enactments

PART 9BRing-fencing

142A“Ring-fenced body”

142BCore activities

142CCore services

142DExcluded activities

142EPower of Treasury to impose prohibitions

142FOrders under section 142A, 142B, 142D or 142E

Ring-fenced bodies not to carry on excluded activities or contravene prohibitions

142GRing-fenced bodies not to carry on excluded activities or contravene prohibitions

Ring-fencing rules

142HRing-fencing rules

142IPowers of Treasury in relation to ring-fencing rules

142JReview of ring-fencing rules etc

Group restructuring powers

142KCases in which group restructuring powers become exercisable

142LGroup restructuring powers

142MProcedure: preliminary notices

142NProcedure: warning notice and decision notice

142OReferences to Tribunal

142PSubsequent variation of requirement or direction

142QConsultation etc. between regulators

142RRelationship with regulators' powers under Parts 4A and 12A

Failure of parent undertaking to comply with direction

142SPower to impose penalty or issue censure

142TProcedure and right to refer to Tribunal

142UDuty on publication of statement

142VImposition of penalties under section 142S: statement of policy

Pension liabilities

142WPension liabilities

142XFurther interpretative provisions for section 142W

Loss-absorbency requirements

142YPower of Treasury in relation to loss-absorbency requirements

142ZAffirmative procedure in relation to certain orders under Part 9B

142Z1Interpretation of Part 9B

PART 9CPrudential regulation of FCA investment firms

143AFCA investment firms

143BOther terms used in this Part

143CDuty to make rules applying to FCA investment firms

143DDuty to make rules applying to parent undertakings

143EPowers to make rules applying to parent undertakings

143FPart 9C rules

143GMatters to consider when making Part 9C rules

143HExplanation to accompany consultation on rules

143IExceptions from sections 143G and 143H

Requirement to have UK parent undertaking

143JRequirement to have UK parent undertaking

Imposition of requirements on non-authorised parent undertakings

143KImposition of requirements on non-authorised parent undertakings

143LApplications under section 143K

143MDetermination of applications under section 143K

143NRefusal of applications under section 143K

143OExercise of own-initiative power under section 143K

143PRight to refer matters to the Tribunal

143QAssets requirements

Control of managers etc of non-authorised parent undertakings

143RManagers of non-authorised parent undertakings

143SPart 9C prohibition orders

143TProcedure for making a Part 9C prohibition order

143UVarying and withdrawing a Part 9C prohibition order

143VOffence of breaching a Part 9C prohibition order

Disciplinary measures for non-authorised parent undertakings

143WDisciplinary measures

143XProcedure for disciplinary measures

143YStatement of policy for penalties under section 143W

143ZProcedure for statement of policy

PART 9DPrudential regulation of credit institutions etc

144BTerms used in this Part

Making CRR rules

144CMatters to consider when making CRR rules

144DExplanation to accompany consultation on CRR rules

144EExceptions from sections 144C and 144D etc

144FPower to consequentially amend enactments

Content of CRR rules

144GDisapplication or modification of CRR rules in individual cases

144HRelationship with the capital requirements regulation

Part X Rules and Guidance

Chapter I Rule-making Powers

138 General rule-making power.

139 Miscellaneous ancillary matters.

139AGeneral rules about remuneration

139BRules about recovery plans

139CRules about resolution plans

139DSections 139B and 139C: interpretation

139ERules about recovery and resolution plans: supplementary provision

139FSpecial provision in relation to resolution plans

140 Restriction on managers of certain collective investment schemes.

141 Insurance business rules.

142 Insurance business: regulations supplementing Authority’s rules.

143 Endorsement of codes etc.

144 Price stabilising rules.

145 Financial promotion rules.

146 Money laundering rules.

147 Control of information rules.

Modification or waiver

148 Modification or waiver of rules.

Contravention of rules

149 Evidential provisions.

150 Actions for damages.

151 Limits on effect of contravening rules.

Procedural provisions

152 Notification of rules to the Treasury.

153 Rule-making instruments.

154 Verification of rules.

155 Consultation.

156 General supplementary powers.

Chapter II Guidance

158 Notification of guidance to the Treasury.

158AGuidance on outsourcing by investment firms and credit institutions

Chapter III Competition Scrutiny

159 Interpretation.

160 Reports by OFT.

161 Power of OFT to request information.

162 Consideration by Competition Commission.

163 Role of the Treasury.

164 The Competition Act 1998.

Part XIInformation Gathering and Investigations

Powers to gather information

165Regulators power to require information : authorised persons etc.

165APRA's power to require information: financial stability

165BSafeguards etc in relation to exercise of power under section 165A

165COrders under section 165A(2)(d)

166Reports by skilled persons.

166AAppointment of skilled person to collect and update information

Appointment of investigators

167Appointment of persons to carry out general investigations.

168Appointment of persons to carry out investigations in particular cases.

Assistance to overseas regulators

169Investigations etc. in support of overseas regulator.

169ASupport of overseas regulator with respect to financial stability

Conduct of investigations

170Investigations: general.

171Powers of persons appointed under section 167.

172Additional power of persons appointed as a result of section 168(1) or (4).

173Powers of persons appointed as a result of section 168(2).

174Admissibility of statements made to investigators.

175Information and documents: supplemental provisions.

176Entry of premises under warrant.

176ARetention of documents taken under section 176

177AInterpretation of Part 11

Part XII Control Over Authorised Persons

Notices of acquisitions of control over UK authorised persons

178Obligation to notify the appropriate regulator: acquisitions of control

179Requirements for section 178 notices

180Acknowledgment of receipt

Acquiring control and other changes of holding

181Acquiring control

182Increasing control

183Reducing or ceasing to have control

184Disregarded holdings

Assessment procedure

185Assessment: general

186Assessment criteria

187Approval with conditions

187AAssessment: consultation by PRA with FCA

187BAssessment: consultation by FCA with PRA

187CVariation etc of conditions

188Assessment: consultation with EC competent authorities

189Assessment: Procedure

190Requests for further information

190AAssessment and resolution

191Duration of approval

Enforcement procedures

191AObjection by the appropriate regulator

191BRestriction notices

191COrders for sale of shares

Notice of reductions of control of UK authorised persons

191DObligation to notify the appropriate regulator: dispositions of control

191ERequirements for notices under section 191D

191FOffences under this Part

191GInterpretation

192 Power to change definitions of control etc.

PART 12APowers exercisable in relation to parent undertakings

192AMeaning of “qualifying authorised person”

192BMeaning of “qualifying parent undertaking”

Power of direction

192CPower to direct qualifying parent undertaking

192DRequirements that may be imposed

192EDirection: procedure

192FConsultation between regulators

192GReferences to Tribunal

192HStatement of policy: directions under section 192C

192IStatement of policy relating to directions: procedure

Rules requiring provision of information by parent undertakings

192JRules requiring provision of information by parent undertakings

Rules applying to parent undertakings of ring-fenced bodies

192JARules applying to parent undertakings of ring-fenced bodies

Rules requiring parent undertakings to facilitate resolution

192JBRules requiring parent undertakings to facilitate resolution

Failure to comply with direction or breach of rules

192KPower to impose penalty or issue censure

192LProcedure and right to refer to Tribunal

192MDuty on publication of statement

192NImposition of penalties under section 192K: statement of policy

PART 12BApproval of certain holding companies

192OInterpretation

192PRequirement for approval

192QApplication for approval or exemption

192RGrant of approval

192SRegulator’s duty to monitor

192UDirections: procedure

192VRules imposing consolidated or sub-consolidated requirements

192WConsultation between regulators

192XReferences to Tribunal

192XARules applying to holding companies

192XBProcedural provision

192XCDisapplication or modification of rules in individual cases

192YPower to impose penalty or issue censure

192ZProcedure and right to refer to Tribunal

192Z1Duty on publication of statement

192Z2Directions and penalties: statement of policy

192Z3Statement of policy relating to directions: procedure

Part XIII Incoming Firms: Intervention by FCA or PRA

193 Interpretation of this Part.

194 General grounds on which power of intervention is exercisable.

194A Contravention by relevant EEA firm with UK branch of requirement under markets in financial instruments directive: appropriate regulator primarily responsible for securing compliance

194BContravention by relevant EEA firm of requirement in capital requirements directive or capital requirements regulation

194CContravention by relevant EEA firm with UK branch of requirement in mortgages directive: appropriate regulator primarily responsible for securing compliance

194DContravention by relevant EEA firm of requirement in insurance distribution directive: appropriate regulator primarily responsible for securing compliance

195 Exercise of power in support of overseas regulator.

195AContravention by relevant EEA firm , EEAUCITS or EEAAIFM of directive requirements: home state regulator primarily responsible for securing compliance

195BContravention by relevant EEA firm of requirement in mortgages directive: home state regulator primarily responsible for securing compliance

195CContravention by relevant EEA firm of requirement in insurance distribution directive: home state regulator primarily responsible for securing compliance

196 The power of intervention.

Exercise of power of intervention

197 Procedure on exercise of power of intervention.

198 Power to apply to court for injunction in respect of certain overseas insurance companies.

199 Additional procedure for EEA firms in certain cases.

199AManagement companies: loss of authorisation

200 Rescission and variation of requirements.

201Effect of certain requirements on other persons

202 Contravention of requirement imposed under this Part.

Powers of Office of Fair Trading

203 Power to prohibit the carrying on of Consumer Credit Act business.

204 Power to restrict the carrying on of Consumer Credit Act business.

PART 13AEnhanced supervision of firms exercising rights under the Insurance Distribution Directive

203AInsurance distribution directive: enhanced supervision of EEA firms by UK regulators

203BInsurance distribution directive: enhanced supervision of UK firms by an EEA regulator

203CModification or waiver of rules where firm subject to enhanced supervision

203DPublication of directions under section 203C

Part XIV Disciplinary Measures

204AMeaning of “relevant requirement” and “appropriate regulator”

205 Public censure.

206 Financial penalties.

206A Suspending permission to carry on regulated activities etc

207 Proposal to take disciplinary measures.

208 Decision notice.

209 Publication.

210 Statements of policy.

211 Statements of policy: procedure.

Part XV The Financial Services Compensation Scheme

The scheme manager

212The scheme manager.

213The compensation scheme.

Provisions of the scheme

214AContingency funding

214BContribution to costs of special resolution regime

214CLimit on amount of special resolution regime payments

214DContributions under section 214B: supplementary

215Rights of the scheme in insolvency

215AContinuity etc. of funeral plan contracts

215BScheme manager’s power to require assistance from liquidator etc. in relation to funeral plan contracts

216Continuity of long-term insurance policies.

217Insurers in financial difficulties.

217ZAInsurers subject to write-down orders

217ZBRecovery of financial assistance under section 217ZA

Relationship with the regulators

217ACo-operation

Annual plan and report

217BAnnual plan

218 Annual report.

218ZAAudit of accounts

Information and documents

218ARegulators' power to require information

218BTreasury's power to require information from scheme manager

219Scheme manager’s power to require information.

220Scheme manager’s power to inspect information held by liquidator etc.

220APower to inspect information held by write-down manager

221Powers of court where information required.

221ADelegation of functions

222 Statutory immunity.

223 Management expenses.

223AInvesting in National Loans Fund

223BBorrowing from National Loans Fund

223CPayments in error

224Scheme manager’s power to inspect documents held by Official Receiver etc.

224ZADischarge of functions

224AFunctions under the Banking Act 2009

Part 15APower to require FSCS manager to act in relation to other schemes

224BMeaning of “relevant scheme” etc

Power to require FSCS manager to act

224CPower to require FSCS manager to act on behalf of manager of relevant scheme

224DCases where FSCS manager may decline to act

224EGrounds for declining to act

224FRules about relevant schemes

Part XVI The Ombudsman Scheme

225 The scheme and the scheme operator.

226 Compulsory jurisdiction.

226AConsumer credit jurisdiction

227 Voluntary jurisdiction.

Determination of complaints

228 Determination under the compulsory jurisdiction.

230AReports of determinations

231 Ombudsman’s power to require information.

232 Powers of court where information required.

232AScheme operator's duty to provide information to FCA

233 Data protection.

234 Industry funding.

234AFunding by consumer credit licensees etc.

Successors to businesses

234BTransfers of liability

PART 16AConsumer protection and competition

Super-complaints and references to FCA

234CComplaints by consumer bodies

234DReference by scheme operator or regulated person

234EResponse by FCA

234FSection 234E: exceptions

234HPower of FCA to make request to Competition and Markets Authority

234IThe FCA's functions under Part 4 of the Enterprise Act 2002

234JThe FCA's functions under the Competition Act 1998

234KDuty to consider exercise of powers under Competition Act 1998

234LProvision of information and assistance to a CMA group

234MFunction of keeping market under review

234NExclusion of general duties

234OSupplementary provision

Part XVII Collective Investment Schemes

Chapter I Interpretation

235 Collective investment schemes.

235AContractual schemes

236 Open-ended investment companies.

236AMeaning of “UCITS”

237 Other definitions.

Chapter II Restrictions on Promotion

238 Restrictions on promotion.

239 Single property schemes.

240 Restriction on approval of promotion.

241 Actions for damages.

CHAPTER 2APROHIBITION ON ISSUE OF BEARER UNITS

241ABearer units no longer to be issued

Chapter III Authorised Unit Trust Schemes

Applications for authorisation

242 Applications for authorisation of unit trust schemes.

243 Authorisation orders : authorised unit trust schemes.

243AAuthorisation orders: authorised money market funds

244 Determination of applications.

Applications refused

245 Procedure when refusing an application.

246 Certificates.

247 Trust scheme rules.

248 Scheme particulars rules.

249 Disciplinary measures

250 Modification or waiver of rules.

251 Alteration of schemes and changes of manager or trustee.

252 Procedure when refusing approval of a proposal under section 251.

252AProposal to convert to a non-feeder UCITS

Exclusion clauses

253 Avoidance of exclusion clauses.

Ending of authorisation

254 Revocation of authorisation order otherwise than by consent.

256 Requests for revocation of authorisation order.

Powers of intervention

257 Directions.

258 Applications to the court.

258AWinding up or merger of master UCITS

259 Procedure on giving directions under section 257 or 258A and varying them on FCA's own initiative.

260 Procedure: refusal to revoke or vary direction.

261 Procedure: revocation of direction and grant of request for variation.

261AInformation for home state regulator

261BInformation for feeder UCITS

CHAPTER 3AAUTHORISED CONTRACTUAL SCHEMES

Applications for authorisation

261CApplications for authorisation of contractual schemes

261DAuthorisation orders : authorised contractual schemes

261E Authorised contractual schemes: holding of units

261EAAuthorisation orders: authorised money market funds

261FDetermination of applications

Applications refused

261GProcedure when refusing an application

261HCertificates

261IContractual scheme rules

261JContractual scheme particulars rules

261KDisciplinary measures

261LModification or waiver of rules

Co-ownership schemes: rights and liabilities of participants

261NEffect of becoming or ceasing to be a participant

261OLimited liability

261PSegregated liability in relation to umbrella co-ownership schemes

261QAlteration of contractual schemes and changes of operator or depositary

261RProcedure when refusing approval of a proposal under section 261Q

261SProposal to convert to a non-feeder UCITS

Exclusion clauses

261TAvoidance of exclusion clauses

Ending of authorisation

261URevocation of authorisation order otherwise than by consent

261VProcedure for revoking authorisation order

261WRequests for revocation of authorisation order

Powers of intervention

261YApplications to the court

261ZWinding up or merger of master UCITS

261Z1Procedure on giving directions under section 261X or 261Z and varying them on FCA’s own initiative

261Z2Procedure: refusal to revoke or vary direction

261Z3Procedure: revocation of direction and grant of request for variation

261Z4Information for home state regulator

261Z5Information for feeder UCITS

Chapter IV Open-ended Investment Companies

262 Open-ended investment companies.

263 Amendment of section 716 Companies Act 1985.

Chapter V Recognised Overseas Schemes

Schemes constituted in other EEA States

264 Schemes constituted in other EEA States.

265 Representations and references to the Tribunal.

266 Disapplication of rules.

267 Power of FCA to suspend promotion of scheme.

268 Procedure on giving directions under section 267 and varying them on FCA's own initiative.

269 Procedure on application for variation or revocation of direction.

270 Schemes authorised in designated countries or territories.

Schemes authorised in approved countries

271ASchemes authorised in approved countries

271BApproval of country: equivalent protection afforded to participants

271CApproval of country: regulatory co-operation

271DReport by the FCA in relation to approval

271EPower to impose requirements on schemes

271FApplication for recognition to the FCA

271GDetermination of applications

271HProcedure when determining an application

271IObligations on operator of a section 271A scheme

271JProvision of information to the FCA

271KRules as to scheme particulars

271LSuspension of recognition

271MProcedure when suspending recognition

271NRevocation of recognition on the FCA's initiative

271ORequests for revocation of recognition

271PObligations on operator where recognition is revoked or suspended

271QEffect of variation or revocation of Treasury regulations

271RPublic censure

271SRecognition of parts of schemes under section 271A

Individually recognised overseas schemes

272 Individually recognised overseas schemes.

273 Matters that may be taken into account.

274 Applications for recognition of individual schemes.

275 Determination of applications.

276 Procedure when refusing an application.

277 Alteration of schemes and changes of operator, trustee or depositary.

277ARegular provision of information relating to compliance with requirements for recognition

278 Rules as to scheme particulars.

279 Revocation of recognition.

281 Directions.

282 Procedure on giving directions under section 281 and varying them otherwise than as requested.

282AObligations on operator where recognition is revoked or suspended

282BPublic censure

282CRecognition of parts of schemes under section 272

Facilities and information in UK

283 Facilities and information in UK.

CHAPTER 5AMASTER-FEEDER STRUCTURES

283AMaster-feeder structures

283BReports on derivative instruments

Chapter VI Investigations

284 Power to investigate.

PART 17ATransformer Vehicles

284ATransformer vehicles

Part XVIIIRecognised investment exchanges, clearing houses , CSDs and other parties

Chapter IExemption

285Exemption for recognised bodies etc.

285APowers exercisable in relation to recognised bodies

286Qualification for recognition.

Applications for recognition

287Application by an investment exchange.

287AApplication by an investment exchange: persons connected with an applicant

288Application by a clearing house.

288AApplication by a central securities depository

289Applications: supplementary.

290Recognition orders.

290ZAVariation of central counterparty recognition order

290ZBVariation of CSD recognition order

290ARefusal of recognition on ground of excessive regulatory provision

291Liability in relation to recognised body’s regulatory functions.

292Overseas investment exchanges and overseas clearing houses.

Publication of information by recognised investment exchange

292APublication of information by recognised investment exchange

293Notification requirements.

293AInformation: compliance with specified requirements

294Modification or waiver of rules.

295Notification: overseas investment exchanges and overseas clearing houses.

295AOn-site inspection of United Kingdom branches of third country CSDs

296Appropriate regulator's power to give directions.

296AAdditional power to direct recognised central counterparties

297Revoking recognition.

298Directions and revocation: procedure.

299Complaints about recognised bodies.

300Extension of functions of Tribunal.

Power to disallow excessive regulatory provision

300APower of appropriate regulator to disallow excessive regulatory provision

300BDuty to notify proposal to make regulatory provision

300CRestriction on making provision before appropriate regulator decides whether to act

300DConsideration by appropriate regulator whether to disallow proposed provision

300EPower to disallow excessive regulatory provision: supplementary

300HRules relating to investment exchanges and data reporting service providers

301Supervision of certain contracts.

CHAPTER 1ACONTROL OVER RECOGNISED INVESTMENT EXCHANGE

Notices of acquisitions of control over recognised investment exchanges

301AObligation to notify the FCA: acquisitions of control

301BRequirements for section 301A notices

301CAcknowledgment of receipt

Acquiring and increasing control

301DAcquiring and increasing control

301EDisregarded holdings

Assessment procedure

301FAssessment: general

301GAssessment: Procedure

301HDuration of approval

Enforcement procedures

301IObjections by the FCA

301JRestriction notices

301KOrders for sale of shares

301LOffences under this Chapter

301MInterpretation

Chapter IICompetition Scrutiny

302Interpretation.

Role of Office of Fair Trading

303Initial report by OFT.

304Further reports by OFT.

305Investigations by OFT.

Role of Competition Commission

306Consideration by Competition Commission.

Role of the Treasury

307Recognition orders: role of the Treasury.

308Directions by the Treasury.

309Statements by the Treasury.

310Procedure on exercise of certain powers by the Treasury.

CHAPTER 2APerformance of functions of recognised bodies

Relevant recognised bodies

309ARecognised bodies to which this Chapter applies

309BPart 18 prohibition orders

309CProcedure for making Part 18 prohibition orders

309DVarying and withdrawing Part 18 prohibition orders

309EOffence of breaching prohibition

309FDuty in relation to prohibited individuals

309GRequirement for approval

309HRules under section 309G(3): transitional provision

309IApplications for approval

309JVetting by relevant recognised bodies

309KDetermining applications: power to grant approval

309LDetermining applications: period for approval

309MDetermining applications: further procedure

309NChanges in responsibilities

309OWithdrawing approval

309PProcedure for withdrawing approval

309QVarying approval at request of relevant recognised body

309RVarying approval on the appropriate regulator’s initiative

309SStatement of policy on approval

309TBreach of statutory duty by relevant recognised bodies

309UPower to impose penalties

309VProcedure for imposing penalties

309WStatement of policy on penalties

309XProcedure for statement of policy on penalties

Certification of employees

309YCertification of employees by relevant recognised bodies

309ZIssuing certificates

Rules of conduct

309Z1Rules of conduct

Disciplinary action by appropriate regulator

309Z2Power to take disciplinary action for misconduct

309Z3Meaning of “misconduct”

309Z4Procedure for disciplinary action

309Z5Statement of policy about disciplinary action

309Z6Procedure for statement of policy about disciplinary action

309Z7Interpretation of Chapter 2A

Application of this Chapter to credit rating agencies

309Z8Power to apply this Chapter to credit rating agencies

Chapter IIIExclusion from the Competition Act 1998

311The Chapter I prohibition.

312The Chapter II prohibition.

CHAPTER 3APASSPORT RIGHTS

EEA market operators in United Kingdom

312AExercise of passport rights by EEA market operator

312BRemoval of passport rights from EEA market operator

Recognised investment exchanges operating in EEA States (other than the United Kingdom)

312CExercise of passport rights by recognised investment exchange

312DInterpretation of Chapter 3A

CHAPTER 3BDisciplinary measures in respect of recognised bodies

312EPublic censure

312FFinancial penalties

312FACentral securities depositories: further disciplinary measures

312GProposal to take disciplinary measures

312HDecision notice

312IPublication

312JStatement of policy

312KStatement of policy: procedure

CHAPTER 3CCritical third parties

312LCritical third parties

312MPower to make rules

312NPower of direction

312ODirections: procedure

312PInformation gathering and investigations

312QPower of censure

312RDisciplinary measures

312SProcedure and right to refer to Tribunal

312TStatement of policy relating to disciplinary measures

312UDuty to ensure co-ordinated exercise of functions etc

312VMemorandum of understanding

312WApplication of provisions of this Act to this Chapter

313Interpretation of Part XVIII.

Part 18ASUSPENSION AND REMOVAL OF FINANCIAL INSTRUMENTS FROM TRADING

313A FCA's power to require suspension or removal of financial instruments from trading

313BSuspension or removal of financial instruments from trading: procedure

313BAProcedure following consideration of representations

313BBRevocation of requirements: applications by institutions

313BCDecisions on applications for revocation by institutions

313BDRevocation of requirements: applications by issuers

313BEDecisions on applications for revocation by issuers

313CNotification in relation to suspension or removal of a financial instrument from trading

313CASuspension or removal of financial instruments from trading: notification and trading on other venues

313CBSuspension or removal of a financial instrument from a trading by a trading venue: FCA duties

313CCSuspension or removal of a financial instrument from trading in another EEA state: FCA duties

313DInterpretation of Part 18A

Part XIX Lloyd’s

314 Regulators' general duty.

314AThe PRA's objectives in relation to Lloyd's etc

315The Society: regulated activities

Power to apply Act to Lloyd’s underwriting

316 Direction by a regulator

317 The core provisions.

318 Exercise of powers through Council.

319 Consultation.

Former underwriting members

320 Former underwriting members.

321 Requirements imposed under section 320.

322 Rules applicable to former underwriting members.

Transfers of business done at Lloyd’s

323 Transfer schemes.

324 Interpretation of this Part.

Part XX Provision of Financial Services by Members of the Professions

325 FCA's general duty.

326 Designation of professional bodies.

327 Exemption from the general prohibition.

328 Directions in relation to the general prohibition.

329 Orders in relation to the general prohibition.

330 Consultation.

331 Procedure on making or varying orders under section 329.

332 Rules in relation to persons to whom the general prohibition does not apply.

333 False claims to be a person to whom the general prohibition does not apply.

PART 20APENSIONS GUIDANCE

333AIntroduction and definitions

Giving of pensions guidance

333B Secretary of State’s role in relation to pensions guidance

333CGiving of pensions guidance

333DFinancial assistance to bodies involved in giving pensions guidance

Designation of guidance providers

333EDesignation of providers of pensions guidance

Co-operation and information sharing

333FCo-operation and information sharing

False claims when giving pensions guidance

333GOffence of falsely claiming to be giving pensions guidance under arrangements made with Secretary of State

Standards for giving of pensions guidance by designated guidance providers

333HStandards for giving of pensions guidance by designated guidance providers

333IMonitoring of compliance with standards by designated guidance providers

333JFailure by designated guidance providers to comply with standards: FCA recommendations

333KFCA policy on making recommendations under section 333J

333LFCA policy on making recommendations under section 333J: procedure

333MFailure by designated guidance providers to comply with standards: ... directions

333NDirections to designated guidance providers under section 333M: relationship with power to revoke a designation

FCA's duties and power to give guidance

333OFCA's duties

333PPower of the FCA to give guidance

Funding of pensions guidance

333QFunding of FCA's pensions guidance costs

333RFunding of Secretary of State’s pensions guidance costs

PART 20BIllegal Money Lending

333SFinancial assistance for action against illegal money lending

333TFunding of action against illegal money lending

Part XXI Mutual Societies

Friendly societies

334 The Friendly Societies Commission.

335 The Registry of Friendly Societies.

Building societies

336 The Building Societies Commission.

337 The Building Societies Investor Protection Board.

Industrial and provident societies and credit unions

338 Industrial and provident societies and credit unions.

339 Supplemental provisions.

Part XXII Auditors and Actuaries

General duties of regulator

339AGeneral duties of PRA in relation to auditors

339B Duty to meet auditors of certain institutions

339CPRA-authorised persons to which this section applies

340Appointment.

341 Access to books etc.

342 Information given by auditor or actuary to a regulator.

343 Information given by auditor or actuary to a regulator: persons with close links.

344 Duty of auditor or actuary resigning etc. to give notice.

Disciplinary measures

345 Disciplinary measures: FCA

345ADisciplinary measures: PRA

345BProcedure and right to refer to Tribunal

345CDuty on publication of statement

345DImposition of penalties on auditors or actuaries: statement of policy

345EStatements of policy: procedure

346 Provision of false or misleading information to auditor or actuary.

Part XXIII Public Record, Disclosure of Information and Co-operation

The public record

347The record of authorised persons etc.

347ADuty of PRA to disclose information relevant to the record

Disclosure of information

348Restrictions on disclosure of confidential information by FCA, PRA etc.

349 Exceptions from section 348.

350 Disclosure of information by the Inland Revenue.

351 Competition information.

351ADisclosure under the UCITS directive

353 Removal of other restrictions on disclosure.

Information received from Bank of England

353AInformation received from Bank of England

354 Authority’s duty to co-operate with others.

354AFCA's duty to co-operate with others

354BPRA's duty to co-operate with others

354CPRA's duty to provide information to Bank of England

Provision of information to ESMA, the Commission and other EEA States

354DInformation under the markets in financial instruments directive

354ECompetent authorities under the markets in financial instruments directive: designation and co-operation

354FInformation under the transparency obligations directive

354GInformation under the UCITS directive

354HInformation under the Insurance Distribution Directive

Part XXIV Insolvency

355 Interpretation of this Part.

Arrangements and reconstructions: companies in financial difficulty

355APowers of FCA and PRA to participate in proceedings

355BEnforcement of requirements imposed by section 355A

Voluntary arrangements

356 Powers of FCA and PRA to participate in proceedings: company voluntary arrangements.

357 Powers of FCA and PRA to participate in proceedings: individual voluntary arrangements.

358 Powers of FCA and PRA to participate in proceedings: trust deeds for creditors in Scotland.

Administration orders

359 Administration order

361Administrator’s duty to report to FCA and PRA

362 Powers of FCA and PRA to participate in proceedings.

362A Administrator appointed by company or directors

363 Powers of FCA and PRA to participate in proceedings.

364 Receiver’s duty to report to FCA and PRA

Voluntary winding up

365 Powers of FCA and PRA to participate in proceedings.

366 Insurers effecting or carrying out long-term contracts or insurance.

Winding up by the court

367 Winding-up petitions.

368 Winding-up petitions: EEA and Treaty firms.

369 Insurers: service of petition etc. on FCA and PRA.

369AReclaim funds: service of petition etc on FCA and PRA

370Liquidator's duty to report to FCA and PRA

371 Powers of FCA and PRA to participate in proceedings.

373 Insolvency practitioner’s duty to report to FCA and PRA.

374 Powers of FCA or PRA to participate in proceedings.

Provisions against debt avoidance

375 Right of FCA and PRA to apply for an order.

Supplemental provisions concerning insurers

376Continuation of contracts of long-term insurance where insurer in liquidation.

377Reducing the value of contracts instead of winding up.

377AWrite-down orders

377BExcluded liabilities

377CApplication for a write-down order

377DPowers of the FCA and PRA to participate in proceedings

377EPowers of the court

377FDuty to notify creditors

377GThe manager

377HWrite-down order ceasing to have effect

377IVariation or revocation of a write-down order

377JFurther provision about write-down orders

377KInsurers in financial difficulties: enforcement of contracts

378Treatment of assets on winding up.

379Winding-up rules.

Settlement finality

379APower to apply settlement finality regime to payment institutions

Part XXV Injunctions and Restitution

380Injunctions.

381 Injunctions in cases of market abuse.

Restitution orders

382 Restitution orders.

383 Restitution orders in cases of market abuse.

Restitution required by FCA or PRA

384 Power of FCA or PRA to require restitution.

385 Warning notices.

386 Decision notices.

Part XXVI Notices

Warning notices

387 Warning notices.

Decision notices

388 Decision notices.

Conclusion of proceedings

389 Notices of discontinuance.

390 Final notices.

391Publication.

391APublication: special provisions relating to capital requirements

391BPublication: special provisions relating to transparency obligations

391CPublication: special provisions relating to UCITS

391DPublication: special provisions relating to markets in financial instruments

391EPublication: special provisions relating to insurance distribution

391FPublication: special provisions relating to the prospectus regulation

Third party rights and access to evidence

392Application of sections 393 and 394.

393 Third party rights.

394 Access to FCA or PRA material.

The FCA's and PRA's procedures

395The FCA's and PRA's procedures.

396 Statements under section 395: consultation.

Part XXVII Offences

Miscellaneous offences

397 Misleading statements and practices.

398 Misleading FCA or PRA: residual cases.

399 Misleading the CMA.

Bodies corporate and partnerships

400 Offences by bodies corporate etc.

Institution of proceedings

401 Proceedings for offences.

402 Power of FCA to institute proceedings for certain other offences.

403 Jurisdiction and procedure in respect of offences.

Part XXVIII Miscellaneous

Consumer redress schemes

404 Consumer redress schemes

404ARules under s.404: supplementary

404BComplaints to the ombudsman scheme

404CEnforcement

404DApplications to Tribunal to quash rules or provision of rules

404EMeaning of “consumers”

404FOther definitions etc

404GPower to widen the scope of consumer redress schemes

Third countries

405 Directions.

406 Interpretation of section 405.

407 Consequences of a direction under section 405.

408 EFTA firms.

International powers and obligations

409AConsultation in relation to deference decisions

410International obligations.

Fees to meet Treasury expenses

410AFees to meet certain expenses of the Treasury

410BDirections in pursuance of section 410A

Tax treatment of levies and repayments

411 Tax treatment of levies and repayments.

Gaming contracts

412 Gaming contracts.

Trade-matching and reporting systems

412AApproval and monitoring of trade-matching and reporting systems

412BProcedure for approval and suspension or withdrawal of approval

Limitation on powers to require documents

413 Protected items.

Service of notices

414 Service of notices.

415 Jurisdiction in civil proceedings.

Powers under the Act

415APowers under the Act

415AAApplication of powers to formerly authorised persons

Consultation and co-operation

415BConsultation in relation to taking certain enforcement action

415CCo-operation and consultation in relation to exercise of functions

Removal of certain unnecessary provisions

416 Provisions relating to industrial assurance and certain other enactments.

Part XXIX Interpretation

417Definitions.

418 Carrying on regulated activities in the United Kingdom.

419 Carrying on regulated activities by way of business.

419AClaims management services

419BCarrying on claims management activity in Great Britain

420 Parent and subsidiary undertaking.

421ZAImmediate group

421AMeaning of “participating interest”

422 Controller.

422ADisregarded holdings

423AMortgage agreements etc

424AInvestment firm

425 Expressions relating to authorisation ... in the single market.

425AConsumers: regulated activities etc carried on by authorised persons

425BConsumers: regulated activities carried on by others

425C“Qualifying provision”

Part XXX Supplemental

426 Consequential and supplementary provision.

427Transitional provisions.

428Regulations and orders.

429Parliamentary control of statutory instruments.

431 Commencement.

432 Minor and consequential amendments, transitional provisions and repeals.

433 Short title.

SCHEDULE 1 The Financial Services Authority

1 The Financial Services Authority

2(1) The constitution of the Authority must continue to provide...

Non-executive members of the governing body

3(1) The Authority must secure— (a) that the majority of...

Functions of the non-executive committee

4(1) In this paragraph “the committee” means the non-executive committee....

Arrangements for discharging functions

5(1) The Authority may make arrangements for any of its...

Monitoring and enforcement

6(1) The Authority must maintain arrangements designed to enable it...

Arrangements for the investigation of complaints

7(1) The Authority must— (a) make arrangements (“the complaints scheme”)...

Investigation of complaints

8(1) The Authority is not obliged to investigate a complaint...

9The Authority must maintain satisfactory arrangements for—

10(1) At least once a year the Authority must make...

Annual public meeting

11(1) Not later than three months after making a report...

Report of annual meeting

12Not later than one month after its annual meeting, the...

13In relation to any of its functions—

Exemption from requirement of “limited” in Authority’s name

14The Authority is to continue to be exempt from the...

15If the Secretary of State is satisfied that any action...

Part III Penalties and Fees

16(1) In determining its policy with respect to the amounts...

17(1) The Authority may make rules providing for the payment...

Services for which fees may not be charged

18The power conferred by paragraph 17 may not be used...

Part IV Miscellaneous

Exemption from liability in damages

19(1) Neither the Authority nor any person who is, or...

19AFor the purposes of this Act anything done by an...

Amounts required by rules to be paid to the Authority

19BAny amount (other than a fee) which is required by...

Disqualification for membership of House of Commons

20In Part III of Schedule 1 to the House of...

Disqualification for membership of Northern Ireland Assembly

21In Part III of Schedule 1 to the Northern Ireland...

SCHEDULE 1ZAThe Financial Conduct Authority

1In this Schedule— “ the Bank ” means the Bank...

2(1) The constitution of the FCA must provide for the...

2A(1) The term of office of a person appointed as...

2B(1) A person may not be appointed as chief executive...

3(1) The terms of service of the appointed members are...

4(1) The Treasury may remove an appointed member from office—...

5The validity of any act of the FCA is not...

6The Bank's Deputy Governor for prudential regulation must not take...

6A(1) The Chair of the Payment Systems Regulator must not...

7The FCA must pay to the appointed members such remuneration...

Arrangements for discharging functions

8(1) The FCA may make arrangements for any of its...

9The FCA must maintain satisfactory arrangements for—

Publication of record of meetings of governing body

10(1) The FCA must publish a record of each meeting...

11(1) At least once a year the FCA must make...

11A(1) The Treasury may (subject to this paragraph) at any...

Annual public meeting

12(1) Not later than 3 months after making a report...

Report of annual meeting

13Not later than one month after its annual meeting, the...

Accounts and audit

14(1) The Treasury may— (a) require the FCA to comply...

15(1) The FCA must send a copy of its annual...

16In relation to any of its functions—

Exemption from requirement for use of “limited” in name of FCA

17The FCA is to continue to be exempt from the...

18If the Secretary of State is satisfied that any action...

PART 3Penalties and fees

19In determining its policy with respect to the amounts of...

20(1) The FCA must in respect of each of its...

21(1) The FCA must prepare and operate a scheme (“...

22(1) The scheme details must be published by the FCA...

23(1) The FCA may make rules providing for the payment...

Services for which fees may not be charged

24The power conferred by paragraph 23 may not be used...

PART 4Miscellaneous

Exemption from liability in damages

25(1) None of the following is to be liable in...

Accredited financial investigators

26For the purposes of this Act anything done by an...

Amounts required by rules to be paid to the FCA

27Any amount (other than a fee) which is required by...

Engagement with Parliamentary Committees

28(1) This paragraph applies where the FCA issues a relevant...

29(1) This paragraph applies where— (a) the FCA issues a...

SCHEDULE 1ZBThe Prudential Regulation Authority

1In this Schedule— ... “ functions ”, in relation to...

2The constitution of the PRA must provide—

3The governing body must consist of —

4The validity of any act of the PRA is not...

5The chief executive of the FCA must not take part...

Appointed members of governing body

6The appointed members must be appointed by the court of...

7Paragraphs 8 to 12 apply to the exercise by the...

8The court of directors must secure that the majority of...

9For the purposes of paragraph 8, and for the purposes...

10The court of directors must have regard to generally accepted...

11(1) Before appointing a person as an appointed member, the...

12An employee of the FCA is disqualified for appointment as...

13The PRA must pay to the Bank the amount of...

14The court of directors of the Bank may, with the...

Terms of service

15(1) The terms of service of the members of the...

Arrangements for discharging functions

16(1) The PRA may make arrangements for any of its...

17The PRA must maintain satisfactory arrangements for—

18(1) The PRA must, for each of its financial years,...

19(1) At least once a year the PRA must make...

Consultation about annual report

20(1) In relation to each report made under paragraph 19,...

Report on consultation

21(1) The PRA must publish a report about its consultation...

21A(1) The Treasury may (subject to this paragraph) at any...

Accounts and audit

22(1) The Treasury may— (a) require the PRA to comply...

23(1) The PRA must send a copy of its annual...

24In relation to any of its functions—

Exemption from requirement for use of “limited” in name of PRA

25The PRA is to be exempt from the requirements of...

26If the Secretary of State is satisfied that any action...

PART 3Penalties and fees

27In determining its policy with respect to the amounts of...

28(1) The PRA must in respect of each of its...

29(1) The PRA must prepare and operate a scheme (“...

30(1) The scheme details must be published by the PRA...

31(1) The PRA may make rules providing for the payment...

Services for which fees may not be charged

32The power conferred by paragraph 31 may not be used...

PART 4Miscellaneous

Exemption from liability in damages

33(1) None of the following is to be liable in...

Accredited financial investigators

34For the purposes of this Act anything done by an...

Amounts required by rules to be paid to the PRA

35Any amount (other than a fee) which is required by...

Engagement with Parliamentary Committees

36(1) This paragraph applies where the PRA issues a relevant...

37(1) This paragraph applies where— (a) the PRA issues a...

SCHEDULE 1AFurther provision about the consumer financial education body

Ensuring exercise of consumer financial education function etc

1(1) The FCA must take such steps as are necessary...

2(1) The constitution of the consumer financial education body must...

3(1) The consumer financial education body is not to be...

Discharge of function by others

4(1) The consumer financial education body may discharge the consumer...

5(1) This paragraph applies if the consumer financial education body...

Discharge of functions: considerations

6In discharging the consumer financial education function the consumer financial...

Relationship with the FCA

6A(1) The consumer financial education body and the FCA must...

6BIf the consumer financial education body considers that it has...

7(1) The consumer financial education body must adopt an annual...

8(1) The consumer financial education body must in respect of...

9(1) At least once a year, the consumer financial education...

Audit of accounts

9A(1) The consumer financial education body must send a copy...

10(1) . . . . . . . . ....

Meaning of “the relevant costs”

11(1) In this Part of this Schedule “ the relevant...

Funding of the relevant costs by authorised persons , payment service providers or electronic money issuers

12(1) For the purpose of meeting a proportion of the...

Funding of the relevant costs by consumer credit licensees etc

13(1) For the purpose of meeting a proportion of the...

Funding by grants or loans etc made by Treasury or Secretary of State

14(1) The Treasury or the Secretary of State may—

Reviews of economy etc of the consumer financial education body

15(1) The FCA may appoint an independent person to conduct...

Right to obtain documents and information

16(1) A person conducting a review under paragraph 15—

SCHEDULE 2 Regulated Activities

Part IRegulated activities: general

1The matters with respect to which provision may be made...

Dealing in investments

2(1) Buying, selling, subscribing for or underwriting investments or offering...

Arranging deals in investments

3Making, or offering or agreeing to make—

4Accepting deposits.

Safekeeping and administration of assets

5(1) Safeguarding and administering assets belonging to another which consist...

Managing investments

6Managing, or offering or agreeing to manage, assets belonging to...

Investment advice

7Giving or offering or agreeing to give advice to persons...

Establishing collective investment schemes

8Establishing, operating or winding up a collective investment scheme, including...

Using computer-based systems for giving investment instructions

9(1) Sending on behalf of another person instructions relating to...

Part 1ARegulated activities: reclaim funds

9AActivities of reclaim funds

Part II Investments

10The matters with respect to which provision may be made...

11(1) Shares or stock in the share capital of a...

Instruments creating or acknowledging indebtedness

12Any of the following— (a) debentures; (b) debenture stock;

Government and public securities

13(1) Loan stock, bonds and other instruments—

Instruments giving entitlement to investments

14(1) Warrants or other instruments entitling the holder to subscribe...

Certificates representing securities

15Certificates or other instruments which confer contractual or property rights—...

Units in collective investment schemes

16(1) Shares in or securities of an open-ended investment company....

17Options to acquire or dispose of property.

18Rights under a contract for the sale of a commodity...

Contracts for differences

19Rights under— (a) a contract for differences; or

Contracts of insurance

20Rights under a contract of insurance, including rights under contracts...

Participation in Lloyd’s syndicates

21(1) The underwriting capacity of a Lloyd’s syndicate.

22Rights under any contract under which a sum of money...

Loans and other forms of credit

23(1) Rights under any contract under which one person provides...

Other finance arrangements involving land

23A(1) Rights under any arrangement for the provision of finance...

Contracts for hire of goods

23B(1) Rights under a contract for the bailment or (in...

Rights in investments

24Any right or interest in anything which is an investment...

PART 2ARegulated activities relating to information about persons' financial standing

24BProviding credit reference services

24CProviding credit information services

24DGiving advice to a person other than a body corporate...

PART 2BRegulated activities relating to the setting of benchmarks

24FProviding information

24GAdministration

24HDetermining or publishing benchmark or publishing connected information

Part III Supplemental Provisions

The order-making power

25(1) An order under section 22(1) or (1A) to (1B)...

Parliamentary control

26(1) This paragraph applies to any order made under section...

27(1) In this Schedule— “buying” includes acquiring for valuable consideration;...

SCHEDULE 2AGibraltar-based persons carrying on activities in the UK

PART 1Interpretation etc

Gibraltar-based person

1(1) In this Act, “ Gibraltar-based person ” means a...

2(1) In this Schedule— “ the Gibraltar regulator ” means...

Activities and branches

3(1) In this Schedule, “ approved activity ” means a...

UK regulators' objectives

4For the purposes of any provision of this Schedule which...

PART 2Approved activities

Approval of regulated activities

5(1) The Treasury may by regulations approve a regulated activity...

Corresponding activities regulated in Gibraltar

6(1) The Treasury must by regulations make provision about how...

7(1) The Treasury may not make regulations under paragraph 5...

Alignment of law and practice

8(1) The Treasury may not approve a regulated activity under...

9(1) The Treasury may not approve a regulated activity under...

10Before making regulations under paragraph 5 or 6, the Treasury...

Withdrawal of approval

11(1) The restrictions in paragraphs 7, 8 and 9 do...

PART 3Permission to carry on an approved activity

Obtaining permission to carry on an approved activity

12(1) If the appropriate UK regulator receives a notification from...

Schedule 2A permission

13(1) A Schedule 2A permission for a person to carry...

The appropriate UK regulator

14In relation to a notification, “ the appropriate UK regulator...

Notifying the appropriate UK regulator

15(1) A notification must— (a) name the Gibraltar-based person,

Considering a notification

16(1) Where the appropriate UK regulator receives a notification, it...

Rejecting a notification

17(1) The appropriate UK regulator may not reject a notification...

Duties to reject

18(1) The appropriate UK regulator must reject a notification if...

Power to reject: prohibition order in respect of senior manager

19(1) The appropriate UK regulator may reject a notification, so...

Power to reject: loss of access right and serious threat to the UK

20(1) The appropriate UK regulator may reject a notification if...

PART 4Variation of permission

Variation of permission

21(1) A Schedule 2A permission may be varied in accordance...

Gibraltar regulator's initiative: notification

22(1) If the appropriate UK regulator receives a notification from...

Gibraltar regulator's initiative: the appropriate UK regulator

23In relation to a notification, “ the appropriate UK regulator...

Gibraltar regulator's initiative: notifying the UK regulator

24(1) A notification must— (a) state the desired variation,

Gibraltar regulator's initiative: considering a notification

25(1) Where the appropriate UK regulator receives a notification, it...

Gibraltar regulator's initiative: rejecting a notification

26(1) The appropriate UK regulator may not reject a notification...

UK regulator's initiative

27(1) A UK regulator may exercise a power under this...

Own-initiative conditions

28(1) For the purposes of this Schedule, “the own-initiative conditions”...

UK regulator's initiative: procedure

29(1) The variation of a Schedule 2A permission under paragraph...

Right to refer matters to the Tribunal

30A Gibraltar-based person who is aggrieved by the exercise by...

PART 5Cancellation of permission

Cancellation of permission

31A Schedule 2A permission may be cancelled in accordance with...

Gibraltar regulator's initiative: notification

32(1) If the appropriate UK regulator receives a notification from...

Gibraltar regulator's initiative: the appropriate UK regulator

33In relation to a notification, “ the appropriate UK regulator...

Gibraltar regulator's initiative: notifying the UK regulator

34A notification must— (a) state the reason for requesting the...

Gibraltar regulator's initiative: considering a notification

35(1) Where the appropriate UK regulator receives a notification, it...

Gibraltar regulator's initiative: rejecting a notification

36(1) The appropriate UK regulator may not reject a notification...

UK regulator's initiative

37(1) The FCA may cancel a Schedule 2A permission where...

UK regulator's initiative: procedure

38(1) If a UK regulator proposes to cancel a Gibraltar-based...

Right to refer matters to the Tribunal

39If a UK regulator gives a Gibraltar-based person a decision...

PART 6Requirements

40(1) A requirement may be imposed on a Gibraltar-based person...

Imposing requirements in connection with Part 3 or 4 notification

41(1) This paragraph applies where a UK regulator has received—...

Imposing requirements in connection with Part 3 or 4 notification: procedure

42(1) If a UK regulator proposes to impose a requirement...

Right to refer matters to the Tribunal

43If a UK regulator gives a Gibraltar-based person a decision...

Gibraltar regulator's initiative: notification

44(1) If the appropriate UK regulator receives a notification from...

Gibraltar regulator's initiative: the appropriate UK regulator

45In relation to a notification, “ the appropriate UK regulator...

Gibraltar regulator's initiative: notifying the UK regulator

46A notification must— (a) state the requirement to be imposed...

Gibraltar regulator's initiative: considering a notification

47(1) Where the appropriate UK regulator receives a notification, it...

Gibraltar regulator's initiative: rejecting a notification

48(1) The appropriate UK regulator may not reject a notification...

UK regulator's initiative: imposing, varying and cancelling requirements

49(1) A UK regulator may exercise the powers under this...

UK regulator's initiative: procedure for imposing or varying requirements

50(1) The imposition or variation of a requirement under paragraph...

UK regulator's initiative: procedure for cancellation

51(1) If a UK regulator proposes to exercise a power...

Right to refer matters to the Tribunal

52A Gibraltar-based person who is aggrieved by the exercise by...

Assets requirements

53(1) This paragraph makes provision about a requirement imposed on...

Further provision about requirements

54(1) A requirement imposed on a Gibraltar-based person under this...

Contravention of requirement imposed under this Part

55(1) Contravention of a requirement imposed under this Part of...

Duty to notify UK regulators of changes

56(1) A UK regulator may direct that a change relating...

PART 8UK regulators' directions about information

Directions about information to be included in notifications

57(1) A UK regulator may direct that a notification for...

PART 9Transition on withdrawal of approval of regulated activity etc

Transition on withdrawal of approval of regulated activity

58(1) Sub-paragraph (2) applies where— (a) the Treasury withdraw their...

Transition on Gibraltar activity ceasing to be corresponding activity

59(1) Sub-paragraph (2) applies where— (a) the Treasury provide that...

Restricting transitional permission

60(1) Sub-paragraph (2) applies where— (a) by virtue of paragraph...

Directions about protected contracts

61(1) A UK regulator may direct that a contract specified...

Right to refer matters to the Tribunal

62Where a person in respect of whom a decision under...

63(1) The Treasury may by regulations extend the period under...

PART 10Transition on cancellation of UK or Gibraltar permission

Transition on cancellation of Schedule 2A permission

64(1) Sub-paragraphs (2), (4) and (5) apply where—

Transition on cancellation of Gibraltar permission

65(1) Sub-paragraphs (2) and (4) apply where the Gibraltar regulator—...

The appropriate UK regulator

66(1) In this Part of this Schedule, “ the appropriate...

Directions about protected contracts

67(1) A UK regulator may direct that a contract specified...

End of transition

68(1) A Gibraltar-based person ceases to be treated as having...

End of transition: procedure

69(1) If a UK regulator proposes to specify or vary...

Right to refer matters to the Tribunal

70If a UK regulator gives a Gibraltar-based person a decision...

PART 11Policy statements

Policy statements

71(1) Each UK regulator must prepare and issue a statement...

Policy statements: procedure

72(1) Before issuing a statement under paragraph 71(1) or (2),...

PART 12Consultation etc by UK regulators

FCA's duties to consult the PRA

73(1) The FCA must consult the PRA before—

FCA's duties to obtain consent from the PRA

74(1) The FCA must obtain the PRA's consent before exercising...

FCA's duties to inform the PRA

75(1) The FCA must inform the PRA in writing without...

PRA's duties to consult the FCA

76(1) The PRA must consult the FCA before—

PRA's duty to obtain consent from the FCA

77(1) The PRA must obtain the FCA's consent before exercising...

PRA's duties to inform the FCA

78(1) When the PRA receives a notification for the purposes...

UK regulators' duties to inform the Gibraltar regulator

79(1) A UK regulator must inform the Gibraltar regulator in...

PART 13Co-operation and Assistance

Duties to co-operate

80(1) Each of the FCA, the PRA and the scheme...

Publication and review of arrangements for co-operation

81(1) Each of the FCA, the PRA and the scheme...

Provision of reports to assist the Treasury

82(1) A UK regulator or the scheme manager must, on...

PART 14Special cases

Gibraltar-based individuals carrying on insurance distribution activities

83(1) For the purposes of paragraph 1, an individual without...

SCHEDULE 3 EEA Passport Rights

Part I Defined terms

The single market directives

1“The single market directives” means— (a) the capital requirements directive...

The banking co-ordination directives

2”The banking consolidation directive” means Directive 2006/48/ EC of the...

The Solvency 2 Directive

3“The Solvency 2 Directive” means Directive 2009/138/EC of the European...

The reinsurance directive

3A“ The reinsurance directive ” means Directive 2005/68/ EC of...

The investment services directive

4. . . . . . . . . ....

The insurance distribution directive

4A“The insurance distribution directive” means Directive (EU) 2016/97 of the...

The UCITS directive

4B“ The UCITS directive ” means the Directive of the...

The markets in financial instruments directive

4C“The markets in financial instruments directive” means Directive 2014/65/EU of...

4DThe emission allowance auctioning regulation

The alternative investment fund managers directive

4E“The alternative investment fund managers directive” means Directive 2011/61/ EU...

The mortgages directive

4F“The mortgages directive” means Directive 2014/17/ EU of the European...

5“EEA firm” means any of the following if it does...

5AIn paragraph 5, “ relevant office ” means—

EEA authorisation

6“ EEA authorisation ” means— (a) in relation to an...

7“EEA right” means the entitlement of a person to establish...

7AIn paragraph 7, “ relevant office ” means—

8“ EEA State ” has the meaning given by Schedule...

Home state regulator

9“Home state regulator” means the competent authority (within the meaning...

10“UK firm” means a person whose relevant office is in...

10AIn paragraph 10, “ relevant office ” means—

UK investment firm

10B” UK investment firm” means a UK firm—

Host state regulator

11“Host state regulator” means the competent authority (within the meaning...

11A”Tied agent” has the meaning given in Article 4.1.29 of...

Management company

11B“ Management company ” has the meaning given in Article...

11C“ UCITS ” has the meaning given in Article 1.2...

11D“ EEA AIFM ” means an EEA firm falling within...

Part II Exercise of Passport Rights by EEA Firms

Firms qualifying for authorisation

12(1) Once an EEA firm which is seeking to establish...

13(1) If the firm falls within paragraph 5(a), (b), (c),...

14(1) The service conditions are that— (a) the firm has...

Grant of permission

15(1) On qualifying for authorisation as a result of paragraph...

15ZAGrant of permission: bidding for emission allowances

Power to restrict permission of management companies

15AApplication for approval to manage UCITS

15BRepresentations and references to the Tribunal

15CInformation to home state regulator

Effect of carrying on regulated activity when not qualified for authorisation

16(1) This paragraph applies to an EEA firm which is...

Continuing regulation of European Economic AreaEEA firms

17Regulations may— (za) require the FCA and the PRA to...

Giving up right to authorisation

18Regulations may provide that in prescribed circumstances an EEA firm...

Part III Exercise of Passport Rights by UK Firms

Meaning of “the appropriate UK regulator”

18AIn this Part of this Schedule “ the appropriate UK...

19(1) Subject to sub-paragraphs (5ZA) , (5ZB) , (5A) and...

20(1) Subject to sub-paragraphs (4D) to (4I), a UK firm...

20ZAInformation for host state regulator

20A(1) If a UK investment firm or UK credit institution...

20BNotice of intention to market a UCITS

Notice of intention to market an Alternative Investment FundAIF

20C(1) A full-scope UK AIFM may not exercise in the...

Offence relating to exercise of passport rights

21(1) If a UK firm which is not an authorised...

Continuing regulation of United KingdomUK firms

22(1) Regulations may make such provision as the Treasury consider...

23(1) Sub-paragraphs (2) and (2A) apply if a UK firm—...

24(1) Sub-paragraph (2) applies if a UK firm—

Arrangements between FCA and PRA

24A(1) The regulators may make arrangements about—

Information to be included in the public record

25The FCA must include in the record that it maintains...

26UK management companies: delegation of functions

27UK management companies: withdrawal of authorisation

28Management companies: request for information

Full-scope United KingdomUKAlternative Investment Fund ManagersAIFMs: notification of breach by host state regulator

29If a host state regulator informs the FCA in accordance...

SCHEDULE 4 Treaty Rights

1(1) In this Schedule— . . . . . ....

Firms qualifying for authorisation

2Once a Treaty firm which is seeking to carry on...

Exercise of Treaty rights

3(1) The conditions are that— (a) the firm has received...

Notification between UK regulators

3ARegulations may require the PRA and the FCA to notify...

4(1) On qualifying for authorisation under this Schedule, a Treaty...

Notice to United KingdomUK regulator

5(1) Sub-paragraph (2) applies to a Treaty firm which—

6(1) A person who contravenes paragraph 5(2) is guilty of...

SCHEDULE 5 Persons Concerned in Collective Investment Schemes

1(1) A person who for the time being is an...

2(1) A person authorised as a result of paragraph 1(1)...

SCHEDULE 6 Threshold Conditions

PART 1Introduction

1A(1) In this Schedule— “assets” includes contingent assets; “consolidated supervision”...

PART 1BPart 4A permission: authorised persons who are not PRA-authorised persons

2BLocation of offices

2CEffective supervision

2DAppropriate resources

2FBusiness model

2GInterpretation

PART 1CPart 4A permission: conditions for which FCA is responsible in relation to PRA-authorised persons

3BEffective supervision

3CAppropriate non-financial resources

3EBusiness model

PART 1DPart 4A permission: conditions for which the PRA is responsible in relation to insurers etc.

4CLocation of offices

4DBusiness to be conducted in a prudent manner

4FEffective supervision

PART 1EPart 4A permission: conditions for which the PRA is responsible in relation to other PRA-authorised persons

5CLocation of offices

5DBusiness to be conducted in a prudent manner

5FEffective supervision

PART 1FAuthorisation under Schedule 3

6A(1) In relation to an EEA firm qualifying for authorisation...

PART 1GAuthorisation under Schedule 4

7A(1) In relation to a person who qualifies for authorisation...

Part II Authorisation

Authorisation under Schedule 3

... Authorisation

Part III Additional Conditions

8(1) If this paragraph applies to the person concerned, he...

9The Treasury may by order— (a) vary or remove any...

SCHEDULE 6AVariation or cancellation of Part 4A permission on initiative of FCA: additional power

Additional power

1(1) If it appears to the FCA that an FCA-authorised...

2(1) The FCA may exercise its power under paragraph 1...

Notice of decision

3(1) Where the FCA decides to vary or cancel an...

Application for decision to be annulled

4(1) This paragraph applies where the FCA decides to vary...

5(1) This paragraph applies where the FCA receives an application...

6(1) Where the FCA— (a) varies or cancels an authorised...

Right to refer matter to Tribunal

7(1) This paragraph applies where the FCA—

8(1) Nothing in this Schedule affects the generality of any...

SCHEDULE 6BDesignated activities

3Holding positions in commodity derivatives.

5Securitisation

6Selling a securitisation position to a retail client located in...

7Financial markets

8Applying for, securing or maintaining the admission of securities to...

9Using a benchmark

10Determining the amount payable under an instrument or financial contract...

11Measuring the performance of an investment fund through a benchmark....

12Contributing to a benchmark

13Contributing data to a regulated benchmark administrator for the purpose...

The Authority as Competent Authority for Part VI

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

The Authority’s general functions

2. . . . . . . . . ....

Duty to consult

3. . . . . . . . . ....

4. . . . . . . . . ....

Statements of policy

5. . . . . . . . . ....

6. . . . . . . . . ....

7. . . . . . . . . ....

Exemption from liability in damages

8. . . . . . . . . ....

Transfer of functions under Part VI

The power to transfer

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

2. . . . . . . . . ....

3. . . . . . . . . ....

General application of Part VI

1The provisions of Part VI apply in relation to a...

References to listing particulars

2(1) Any reference to listing particulars is to be read...

General duty of disclosure

3(1) In section 80(1), for “section 79” substitute “ section...

Supplementary prospectuses

4In section 81(1), for “section 79 and before the commencement...

Exemption from liability for compensation

5(1) In paragraphs 1(3) and 2(3) of Schedule 10, for...

6In section 98(1), for “If listing particulars are, or are...

7Listing rules made under section 99 may require the payment...

SCHEDULE 10 Compensation: Exemptions

Statements believed to be true

1(1) In this paragraph “statement” means— (a) any untrue or...

Statements by experts

2(1) In this paragraph “statement” means a statement included in...

Corrections of statements

3(1) In this paragraph “statement” has the same meaning as...

Corrections of statements by experts

4(1) In this paragraph “statement” has the same meaning as...

Official statements

5A person does not incur any liability under section 90(1)...

False or misleading information known about

6A person does not incur any liability under section 90(1)...

Belief that supplementary listing particulars not called for

7A person does not incur any liability under section 90(4)...

Meaning of “expert”

8“Expert” includes any engineer, valuer, accountant or other person whose...

SCHEDULE 10ALIABILITY OF ISSUERS IN CONNECTION WITH PUBLISHED INFORMATION

PART 1SCOPE OF THIS SCHEDULE

1Securities to which this Schedule applies

2Published information to which this Schedule applies

PART 2LIABILITY IN CONNECTION WITH PUBLISHED INFORMATION

3Liability of issuer for misleading statement or dishonest omission

4An issuer of securities to which this Schedule applies is...

5Liability of issuer for dishonest delay in publishing information

6Meaning of dishonesty

7Exclusion of certain other liabilities

PART 3SUPPLEMENTARY PROVISIONS

8Interpretation

The general rule

1(1) A person offers securities to the public in the...

2(1) For the purposes of this Schedule, an offer of...

Offers for business purposes

3The securities are offered to persons— (a) whose ordinary activities...

Offers to limited numbers

4(1) The securities are offered to no more than fifty...

Clubs and associations

5The securities are offered to the members of a club...

Restricted circles

6(1) The securities are offered to a restricted circle of...

Underwriting agreements

7The securities are offered in connection with a genuine invitation...

Offers to public authorities

8(1) The securities are offered to a public authority.

Maximum consideration

9(1) The total consideration payable for the securities cannot exceed...

Minimum consideration

10(1) The minimum consideration which may be paid by any...

Securities denominated in euros

11(1) The securities are denominated in amounts of at least...

12(1) The securities are offered in connection with a takeover...

13The securities are offered in connection with a merger (within...

14(1) The securities are shares and are offered free of...

Exchange of shares

15The securities— (a) are shares, or investments of a specified...

Qualifying persons

16(1) The securities are issued by a body corporate and...

Convertible securities

17(1) The securities result from the conversion of convertible securities...

18The securities are issued by— (a) a charity within the...

Building societies etc.

19The securities offered are shares which are issued by, or...

Euro-securities

20(1) The securities offered are Euro-securities and no advertisement relating...

Same class securities

21The securities are of the same class, and were issued...

Short date securities

22The securities are investments of a specified kind with a...

Government and public securities

23(1) The securities are investments of a specified kind creating...

Non-transferable securities

24The securities are not transferable.

24AUnits in a collective investment scheme

General definitions

25For the purposes of this Schedule— “shares” has such meaning...

SCHEDULE 11ATRANSFERABLE SECURITIES

1Units (within the meaning in section 237(2)) in an open-ended...

2Non-equity transferable securities issued by (a) the government of an...

3Shares in the share capital of the central bank of...

4Transferable securities unconditionally and irrevocably guaranteed by the government, or...

5(1) Non-equity transferable securities, issued in a continuous or repeated...

6Non-fungible shares of capital— (a) the main purpose of which...

7(1) Transferable securities issued by a body specified in sub-paragraph...

8(1) Non-equity transferable securities, issued in a continuous or repeated...

9(1) Transferable securities included in an offer where the total...

SCHEDULE 11BCONNECTED PERSONS

PART 1MEANING OF “CONNECTED PERSON”

2Meaning of “connected person”

3Family members

4Associated bodies corporate

5Control of a body corporate

6Supplementary provisions

PART 2CONNECTED PERSONS: REFERENCES TO AN INTEREST IN SHARES OR DEBENTURES

8General provisions

9Rights to acquire shares

10Right to exercise or control exercise of rights

11Bodies corporate

SCHEDULE 12 Transfer schemes: certificates

Part I Insurance Business Transfer Schemes

1For the purposes of section 111(2) the appropriate certificate, in...

Certificates as to margin of solvency

2(1) A certificate under this paragraph is to be given—...

Certificates as to consultation

3A certificate under this paragraph is one given by the...

Certificates as to consent

3AA certificate under this paragraph is one given by the...

Certificates as to long-term business

4A certificate under this paragraph is one given by the...

Certificates as to general business

5A certificate under this paragraph is one given by the...

Certificates as to legality and as to consent

5A(1) The certificates under this paragraph are to be given—...

Interpretation of Part I

6(1) “ State of the commitment ”, in relation to...

Part II Banking Business Transfer Schemes

7For the purposes of section 111(2) the appropriate certificate, in...

Certificates as to financial resources

8(1) A certificate under this paragraph is one given by...

Certificates as to consent of home state regulator

9A certificate under this paragraph is one given by the...

Part 2AReclaim fund business transfer schemes

9ACertificate as to financial resources

PART 2BRing-fencing transfer schemes

9BAppropriate certificates

9CCertificate as to financial resources

9DCertificate as to consent of home state regulator

Part III Insurance business transfers effected outside the United Kingdom

10(1) This paragraph applies to a proposal to execute under...

1In this Schedule— “panel of chairmen” means the panel established...

Part II The Tribunal

2(1) The Lord Chancellor must appoint one of the members...

3(1) The Lord Chancellor must appoint a panel of persons...

Terms of office etc

4(1) Subject to the provisions of this Schedule, each member...

Remuneration and expenses

5The Lord Chancellor may pay to any person, in respect...

6(1) The Lord Chancellor may appoint such staff for the...

Part III Constitution of Tribunal

7(1) On a reference to the Tribunal, the persons to...

Part IV Tribunal Procedure

8For the purpose of dealing with references, or any matter...

9Rules made by the Lord Chancellor under section 132 may,...

Practice directions

10The President of the Tribunal may give directions as to...

11(1) The Tribunal may by summons require any person to...

Decisions of Tribunal

12(1) A decision of the Tribunal may be taken by...

13(1) If the Tribunal considers that a party to any...

SCHEDULE 14 Role of the Competition Commission

Provision of information by Treasury

1 Role of the Competition Commission

Consideration of matters arising on a report

2 Role of the Competition Commission

Investigations under section 162: application of Enterprise Act 2002

2A Role of the Competition Commission

Section 162: modification of Schedule 7 to the Competition Act...

2B Role of the Competition Commission

Reports under section 162: further provision

2C Role of the Competition Commission

Applied provisions

3 Role of the Competition Commission

Publication of reports

4 Role of the Competition Commission

SCHEDULE 15 Information and Investigations: Connected Persons

Part I Rules for Specific Bodies

Corporate bodies

1If the authorised person (“BC”) is a body corporate, a...

2If the authorised person (“PP”) is a partnership, a person...

Unincorporated associations

3If the authorised person (“UA”) is an unincorporated association of...

Friendly societies

4(1) If the authorised person (“FS”) is a friendly society,...

Building societies

5(1) If the authorised person (“BS”) is a building society,...

6If the authorised person (“IP”) is an individual, a person...

Application to sections 171 and 172

7For the purposes of sections 171 and 172, if the...

Part II Additional Rules

8A person who is, or at the relevant time was,...

SCHEDULE 16 Prohibitions and Restrictions imposed by OFFICE OF FAIR TRADING

1In this Schedule— “appeal period” has the same meaning as...

Notice of prohibition or restriction

2(1) This paragraph applies if the OFT proposes, in relation...

Application to revoke prohibition or restriction

3(1) This paragraph applies if the OFT proposes to refuse...

Representations to Office of Fair TradingOFT

4(1) If this paragraph applies to an invitation to submit...

5Section 41 of the Consumer Credit Act 1974 (appeals to...

SCHEDULE 17 The Ombudsman Scheme

1In this Schedule— “ ADR Directive” means Directive 2013/11/ EU...

Part II The Scheme Operator

2(1) The FCA must take such steps as are necessary...

3(1) The constitution of the scheme operator must provide for...

Relationship with FCA

3A(1) The scheme operator and the FCA must each take...

The panel of ombudsmen

4(1) The scheme operator must appoint and maintain a panel...

The Chief Ombudsman

5(1) The scheme operator must appoint one member of the...

6(1) The scheme operator is not to be regarded as...

7(1) At least once a year— (a) the scheme operator...

Audit of accounts

7A(1) The scheme operator must send a copy of its...

Information, advice and guidance

8The scheme operator may publish such information, guidance or advice...

9(1) The scheme operator must, before the start of each...

9A(1) The scheme operator must in respect of each of...

Exemption from liability in damages

10(1) No person is to be liable in damages for...

11For the purposes of the law relating to defamation, proceedings...

Part III The Compulsory Jurisdiction

12This Part of this Schedule applies only in relation to...

FCA's ... rules

13(1) The FCA must make rules providing that a complaint...

The scheme operator’s rules

14(1) The scheme operator must make rules, to be known...

15(1) Scheme rules may require a respondent or other persons...

Enforcement of money awards

16A money award, including interest, which has been registered in...

Part 3AThe consumer credit jurisdiction

16AThis Part of this Schedule applies only in relation to...

Procedure for complaints etc.

16B(1) Consumer credit rules— (a) must provide that a complaint...

16C(1) Consumer credit rules may require a respondent to pay...

Enforcement of money awards

16DA money award, including interest, which has been registered in...

Procedure for consumer credit rules

16E(1) If the scheme operator makes any consumer credit rules,...

Verification of consumer credit rules

16F(1) The production of a printed copy of consumer credit...

16G(1) If the scheme operator proposes to make consumer credit...

Part IV The Voluntary Jurisdiction

17This Part of this Schedule applies only in relation to...

Terms of reference to the scheme

18(1) Complaints are to be dealt with and determined under...

Delegation by and to other schemes

19(1) The scheme operator may make arrangements with a relevant...

Voluntary jurisdiction rules: procedure

20(1) If the scheme operator makes voluntary jurisdiction rules, it...

Verification of the rules

21(1) The production of a printed copy of voluntary jurisdiction...

22(1) If the scheme operator proposes to make voluntary jurisdiction...

SCHEDULE 17AFurther provision in relation to exercise of Part 18 functions ...

Part 1Co-operation between appropriate regulators

Memorandum of understanding between appropriate regulators and PRA

1The appropriate regulators must prepare and maintain a memorandum describing ...

2The FCA and the PRA must prepare and maintain a ...

3The parties to a memorandum under paragraph 1 or 2 ...

4The parties to a memorandum under paragraph 1 or 2 ...

5The Treasury must lay before Parliament a copy of any ...

6The parties to a memorandum under paragraph 1 or 2 ...

6AIf the Bank makes a Part 18 prohibition order relating ...

Notification by FCA of action in relation to recognised clearing ...

7The FCA must notify the Bank of England of any ...

8The FCA must notify the Bank of England of any ...

Part 2Application of provisions of this Act in relation to Bank ...

9The provisions of this Act mentioned in this Part of ...

10The following provisions of Part 9A of this Act are ...

10AThe following provisions of Part 9A of this Act are ...

Information gathering and investigations

11The powers conferred by section 165(1) and (3) (power to ...

12The power conferred by section 166 (reports by skilled person) ...

13The powers conferred by section 167 (appointment of persons to ...

14The power conferred by section 168(5) (appointment of persons to ...

15An overseas regulator may, in accordance with section 169, request ...

16The power to give information under section 176(1) (entry of ...

Powers in relation to parent undertakings

17The following provisions of Part 12A of this Act are ...

18Section 342 (information given by auditor to a regulator) applies ...

19Section 343 (information given by auditor: person with close links) ...

20Section 344 (duty of auditor resigning to give notice) applies ...

21Sections 345A to 345E apply to auditors to whom section ...

Public record and disclosure of information

22Section 347 (record of authorised persons, recognised investment exchanges, etc),. ...

23Sections 348 to 350 and 353 (disclosure of information) apply ...

23ASection 354B (co-operation) applies in relation to the Bank for ...

24The following provisions of Part 24 of this Act are ...

25In the case of any regulated activity which is carried ...

Injunctions and restitution

26The power to make an application under section 380(1), (2) ...

27The power to make an application under section 382(1) (restitution ...

28The power conferred by section 384(5) (power of FCA to ...

29The provisions of Part 26 of this Act (notices) apply, ...

30Section 398 (misleading the FCA: residual cases) applies to information ...

31Section 401 (proceedings for an offence) applies to the Bank ...

Transitional provisions

31BSection 427 (transitional provisions), so far as it relates to ...

32Paragraph 17 of Schedule 1ZB (records) applies in relation to ...

33Paragraph 19 of Schedule 1ZB (annual report by PRA) applies ...

Part 3Winding up, administration or insolvency of recognised clearing houses

Notice to Bank of England of preliminary steps

34An application for an administration order in respect of a ...

Power to give directions to insolvency practitioner

35This paragraph applies where a person has been appointed to ...

36The Bank of England may, in connection with the discharge ...

37Any fee which is owed to the Bank under paragraph ...

SCHEDULE 18 Mutuals

Part I Friendly Societies

The Friendly Societies Act 1974 (c.46)

1Omit sections 4 (provision for separate registration areas) and 10...

2In section 7 (societies which may be registered), in subsection...

3In section 11 (additional registration requirements for societies with branches),...

4In section 99(4) (punishment of fraud etc and recovery of...

The Friendly Societies Act 1992 (c.40)

5Omit sections 31 to 36A (authorisation of friendly societies business)....

6In section 37 (restrictions on combinations of business), omit subsections...

7Omit sections 38 to 43 (restrictions on business of certain...

8Omit sections 44 to 50 (regulation of friendly societies business)....

Part II Friendly Societies: Subsidiaries and Controlled Bodies

9In this Part of this Schedule— “the 1992 Act” means...

Qualifying bodies

10(1) Subsections (2) to (5) of section 13 (incorporated friendly...

Bodies controlled by societies

11In section 13(9) (defined terms), after paragraph (a) insert—

Joint control by societies

12In section 13(9), after paragraph (c) insert—

Acquisition of joint control

13In section 13(9), in the words following paragraph (d), after...

Amendment of Schedule 8 to the 1992 Act

14(1) Schedule 8 to the 1992 Act (provisions supplementing section...

Consequential amendments

15(1) Section 52 of the 1992 Act is amended as...

References in other enactments

16References in any provision of, or made under, any enactment...

Part III Building Societies

The Building Societies Act 1986 (c.53)

17Omit section 9 (initial authorisation to raise funds and borrow...

18Omit Schedule 3 (supplementary provisions about authorisation).

Part IV Industrial and Provident Societies

The Industrial and Provident Societies Act 1965 (c.12)

19Omit section 8 (provision for separate registration areas for Scotland...

20Omit section 70 (scale of fees to be paid in...

Part V Credit Unions

The Credit Unions Act 1979 (c.34)

21In section 6 (minimum and maximum number of members), omit...

22In section 11 (loans), omit subsections (2) and (6).

23Omit sections 11B (loans approved by credit unions), 11C (grant...

24In section 12, omit subsections (4) and (5).

25In section 14, omit subsections (2), (3), (5) and (6)....

26In section 28 (offences), omit subsection (2).

Part I Persons and functions for the purposes of section 351

1The Table set out after this paragraph has effect for...

Part II The enactments

1The Fair Trading Act 1973

2The Consumer Credit Act 1974

3The Estate Agents Act 1979

4The Competition Act 1980

5The Telecommunications Act 1984

6The Airports Act 1986

7The Gas Act 1986

8The Control of Misleading Advertisements Regulations 1988

9The Electricity Act 1989

10The Broadcasting Act 1990

11The Water Industry Act 1991

12The Electricity (Northern Ireland) Order 1992

13The Railways Act 1993

14Part IV of the Airports (Northern Ireland) Order 1994

15The Gas (Northern Ireland) Order 1996

16The EC Competition (Articles 88 and 89) Enforcement Regulations 1996...

17The Unfair Terms in Consumer Contracts Regulations 1999

19An enactment specified for the purposes of this paragraph in...

SCHEDULE 19AThe manager of a write-down order

1Application of Schedule

2Status of the manager

3Monitoring the insurer’s affairs

4Application by manager to revoke or vary a write-down order

5Provision of information and assistance to the manager

6Application by manager for directions

7Challenges to the manager’s actions

SCHEDULE 19BFurther provision about write-down orders

PART 1Restrictions on enforcement

1Application of this Part of this Schedule

2Moratorium on proceedings

PART 2Dealing with assets etc

4Application of this Part of this Schedule

5Dealing with assets

6Paying variable remuneration

PART 3Treatment of written-down liabilities for certain purposes

8Application of this Part of this Schedule

9Relevant insolvency provisions

10Reinsurance contracts

11(1) This Part of this Schedule applies where—

SCHEDULE 19CInsurers in financial difficulties: enforcement of contracts

PART 1Introductory

1Application of this Schedule

2“Financial difficulties”

PART 2Policyholder surrender rights

3Restriction on policyholder surrender rights

4Switching rights

5Consent to exceed surrender limit

PART 3Termination etc of relevant contracts

6Relevant contracts

7Restriction on termination etc

8Consent to terminate relevant contracts

PART 4Exclusions and disapplication of this Schedule

10Disapplication of this Schedule by the court

PART 5Powers to amend this Schedule

12The Treasury may by regulations amend this Schedule so as...

SCHEDULE 20 Minor and Consequential Amendments

The House of Commons Disqualification Act 1975 (c. 24)

1In Part III of Schedule 1 to the House of...

The Northern Ireland Assembly Disqualification Act 1975 (c. 25)

2In Part III of Schedule 1 to the Northern Ireland...

The Civil Jurisdiction and Judgments Act 1982 (c. 27)

3In paragraph 10 of Schedule 5 to the Civil Jurisdiction...

The Income and Corporation Taxes Act 1988 (c. 1)

4(1) The Income and Corporation Taxes Act 1988 is amended...

The Finance Act 1991 (c. 31)

5(1) The Finance Act 1991 is amended as follows.

The Tribunals and Inquiries Act 1992 (c. 53)

6 Minor and Consequential Amendments

The Judicial Pensions and Retirement Act 1993 (c. 8)

7(1) The Judicial Pensions and Retirement Act 1993 is amended...

SCHEDULE 21 Transitional Provisions and Savings

Self-regulating organisations

1(1) No new application under section 9 of the 1986...

Self-regulating organisations for friendly societies

2(1) No new application under paragraph 2 of Schedule 11...

SCHEDULE 22Repeals

Royal arms

Financial Services and Markets Act 2000

2000 CHAPTER 8

An Act to make provision about the regulation of financial services and markets; to provide for the transfer of certain statutory functions relating to building societies, friendly societies, industrial and provident societies and certain other mutual societies; and for connected purposes.

[14th June 2000]

Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—