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Financial Services and Markets Act 2000
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Changes over time for: Section 314
Alternative versions:
- 03/09/2001- Amendment
- 01/04/2013- Amendment
- 07/03/2017
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Changes to legislation:
Financial Services and Markets Act 2000, Section 314 is up to date with all changes known to be in force on or before 23 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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314 [F1Regulators'] general duty.U.K.
This section has no associated Explanatory Notes
[F2(1)So far as it is appropriate to do so for the purpose of advancing one or more of its operational objectives, the FCA must keep itself informed about—
(a)the way in which the Council supervises and regulates the market at Lloyd's, and
(b)the way in which regulated activities are being carried on in that market.
(1A)So far as it is appropriate to do so for the purpose of advancing its general objective or (if section 2C applies) its insurance objective, the PRA must keep itself informed about—
(a)the way in which the Council supervises and regulates the market at Lloyd's, and
(b)the way in which any PRA-regulated activities are being carried on in that market.]
(2)[F3Each regulator] must keep under review the desirability of exercising—
(a)any of its powers under this Part;
(b)any powers which it has in relation to the Society as a result of [F4provision made by or under this Act].
Textual Amendments
F1Word in s. 314 heading substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 40(2)(c), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F2S. 314(1)(1A) substituted for s. 314(1) (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 40(2)(a), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F3Words in s. 314(2) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 40(2)(b)(i), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F4Words in s. 314(2)(b) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 40(2)(b)(ii), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
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