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Financial Services and Markets Act 2000
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Changes over time for: Section 137H
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- 24/01/2013- Amendment
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Financial Services and Markets Act 2000, Section 137H is up to date with all changes known to be in force on or before 03 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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[F1137HGeneral rules about remunerationU.K.
This section has no associated Explanatory Notes
(1)This section applies where either regulator exercises its power to make general rules so as to make rules prohibiting persons, or persons of a specified description, from being remunerated in a specified way.
(2)The rules may—
(a)provide that any provision of an agreement that contravenes such a prohibition is void, and
(b)provide for the recovery of any payment made, or other property transferred, in pursuance of a provision that is void by virtue of paragraph (a).
(3)A provision that, at the time the rules are made, is contained in an agreement made before that time may not be rendered void under subsection (2)(a) unless it is subsequently amended so as to contravene a prohibition referred to in that subsection.]
Textual Amendments
F1Pt. 9A substituted for ss. 138-164 (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 24(1), 122(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch.
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