Financial Services and Markets Act 2000

5 (1) The Authority may make arrangements for any of its functions to be discharged by a committee, sub-committee, officer or member of staff of the Authority.

[F1 (2) But—

(a) in exercising the legislative functions mentioned in paragraph 1(2)(a) to (d), the Authority must act through its governing body; and

(b) the legislative function mentioned in paragraph 1(2)(e) may not be discharged by an officer or member of staff of the Authority.]

(3) Sub-paragraph (1) does not apply to the non-executive functions.

Textual Amendments

F1 Sch. 1 para. 5(2) substituted (12.7.2007) by The Regulatory Reform (Financial Services and Markets Act 2000) Order 2007 (S.I. 2007/1973), art. 14

Modifications etc. (not altering text)

C1 Sch. 1 para. 5 extended (18.6.2001) by S.I. 2001/1821, arts. 1(1), 2(1)(b)(c)

C2 Sch. 1 para. 5(1) excluded by Serious Organised Crime and Police Act 2005 (c. 15), s. 71(6B) (as inserted (6.4.2010) by Coroners and Justice Act 2009 (c. 25) {ss. 113(4)}, 182(5) (with s. 180); S.I. 2010/816, art. 2, Sch. para. 6)