Financial Services and Markets Act 2000

97 Appointment by competent authority of persons to carry out investigations.U.K.

This section has no associated Explanatory Notes

(1)Subsection (2) applies if it appears to the competent authority that there are circumstances suggesting that—

(a)there may have been a [F1contravention of a provision of this Part or of Part 6 rules or a provision otherwise made in accordance with the prospectus directive];

[F2(b)a person who was at the material time [F3a person mentioned in section 91(1) or (1A) has been knowingly concerned in a contravention of a provision of this Part or of Part 6 rules or a provision otherwise made in accordance with the prospectus directive by that person]]

(c)F4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(d)there may have been a contravention of section 83, 85 [F5, 87G] or 98.

(2)The competent authority may appoint one or more competent persons to conduct an investigation on its behalf.

(3)Part XI applies to an investigation under subsection (2) as if—

(a)the investigator were appointed under section 167(1);

(b)references to the investigating authority in relation to him were to the competent authority;

(c)references to the offences mentioned in section 168 were to those mentioned in subsection (1)(d);

(d)references to an authorised person were references to the person under investigation.

Textual Amendments

F1Words in s. 97(1)(a) (which were in part substituted (1.7.2005) by the words "Part 6 rules" by S.I. 2005/381, reg. 1(2), Sch. 1 para. 7(a)) substituted (1.7.2005) by The Prospectus Regulations 2005 (S.I. 2005/1433), reg. 2(1), Sch. 1 para. 8(a)