Financial Services and Markets Act 2000

144 Price stabilising rules. U.K.

(1) The Authority may make rules (“price stabilising rules”) as to—

(a) the circumstances and manner in which,

(b) the conditions subject to which, and

(c) the time when or the period during which,

action may be taken for the purpose of stabilising the price of investments of specified kinds.

(2) Price stabilising rules—

(a) are to be made so as to apply only to authorised persons;

(b) may make different provision in relation to different kinds of investment.

(3) The Authority may make rules which, for the purposes of section 397(5)(b), treat a person who acts or engages in conduct—

(a) for the purpose of stabilising the price of investments, and

(b) in conformity with such provisions corresponding to price stabilising rules and made by a body or authority outside the United Kingdom as may be specified in the rules under this subsection,

as acting, or engaging in that conduct, for that purpose and in conformity with price stabilising rules.

(4) The Treasury may by order impose limitations on the power to make rules under this section.

(5) Such an order may, in particular—

(a) specify the kinds of investment in relation to which price stabilising rules may make provision;

(b) specify the kinds of investment in relation to which rules made under subsection (3) may make provision;

(c) provide for price stabilising rules to make provision for action to be taken for the purpose of stabilising the price of investments only in such circumstances as the order may specify;

(d) provide for price stabilising rules to make provision for action to be taken for that purpose only at such times or during such periods as the order may specify.

(6) If provisions specified in rules made under subsection (3) are altered, the rules continue to apply to those provisions as altered, but only if before the alteration the Authority has notified the body or authority concerned (and has not withdrawn its notification) that it is satisfied with its consultation procedures.

[F1 (7) “Consultation procedures” means procedures designed to provide an opportunity for persons likely to be affected by alterations to those provisions to make representations about proposed alterations to any of those provisions.]

Textual Amendments

F1 S. 144(7) substituted (6.4.2007) by Companies Act 2006 (c. 46), ss. 964(3), 1300(2); S.I. 2007/1093, art. 2(1)(b) (with arts. 4, 11)

Commencement Information

I1 S. 144 wholly in force at 18.6.2001; s. 144 not in force at Royal Assent see s. 431(2); s. 144(4)(5) in force at 25.2.2001 by S.I. 2001/516, art. 2(a), Sch. Pt. 1; s. 144 in force in so far as not already in force at 18.6.2001 by S.I. 2001/1820, art. 2, Sch.