SCHEDULES
SCHEDULE 3MINOR AND CONSEQUENTIAL AMENDMENTS RELATING TO PART 1
Public Records Act 1958 (c. 51)
I41
In Schedule 1 to the Public Records Act 1958 (definition of public records), in paragraph 3, in Part 2 of the Table, at the appropriate place insert— “
The single financial guidance body.
”
Parliamentary Commissioner Act 1967 (c. 13)
I52
In Schedule 2 to the Parliamentary Commissioner Act 1967 (departments etc subject to investigation), at the appropriate place insert— “
The single financial guidance body.
”
House of Commons Disqualification Act 1975 (c. 24)
I63
In Part 2 of Schedule 1 to the House of Commons Disqualification Act 1975 (bodies of which all members are disqualified), at the appropriate place insert— “
The single financial guidance body.
”
Northern Ireland Assembly Disqualification Act 1975 (c. 25)
I74
In Part 2 of Schedule 1 to the Northern Ireland Assembly Disqualification Act 1975 (bodies of which all members are disqualified), at the appropriate place insert— “
The single financial guidance body.
”
Financial Services and Markets Act 2000 (c. 8)
5
The Financial Services and Markets Act 2000 is amended as follows.
I86
In section 1A(6) (functions of the FCA), after paragraph (c) insert—
cza
the Financial Guidance and Claims Act 2018,
I177
In section 1B (FCA's general duties), omit subsection (7A).
8
In section 1C (the consumer protection objective), in subsection (2), omit paragraph (g).
I189
In section 1M (FCA's general duty to consult), omit the words “and its duties under section 333O”.
I1910
In section 1S (reviews), in subsection (3) omit the words “or its duties under section 333O(1) and (2)(a)”.
I911
In section 3R (arrangements for provision of services), in subsection (4), for paragraph (a) substitute—
a
the single financial guidance body (see Part 1 of the Financial Guidance and Claims Act 2018),
12
Omit section 3S (the consumer financial education body).
I113
In section 138F (notification of rules), in subsection (2) (exceptions to notification)—
a
after “, 137FBA” insert “
, 137SA
”
;
I32b
before “, 137SA”
(inserted by paragraph (a)), insert “
, 137FC
”
;
I10c
after “, 137SA” insert “
, 137SB
”
;
I32d
omit “, 333Q, 333R”.
I214
1
Section 138I (consultation on rules by FCA) is amended as follows.
2
In subsection (6) (exception to requirement to carry out cost benefit analysis)—
a
after paragraph (ab) insert—
ad
section 137SA;
I20b
before paragraph (ad) (inserted by paragraph (a)), insert—
ac
section 137FC;
I11c
after paragraph (ad) insert—
ae
section 137SB;
I20d
omit paragraphs (ca), (cb) and (e).
3
In subsection (10) (exception to requirement to consult PRA before making rules)—
a
after “137FBA” insert “
, 137SA
”
;
I21b
before “, 137SA”
(inserted by paragraph (a)), insert “
, 137FC
”
;
I11c
after “, 137SA” insert “
, 137SB
”
;
I21d
omit “, 333Q, 333R”.
15
In section 138J (consultation on rules by PRA), in subsection (6), omit paragraph (e).
I2216
In section 139A (power of FCA to give guidance), omit subsection (1A).
I2317
In section 140A (competition scrutiny: interpretation), in subsection (1), in paragraph (a) of the definition of “regulating provisions”—
a
in sub-paragraph (ii), omit “or 333P(9)”;
b
omit sub-paragraphs (v) and (vi).
I2418
In section 168 (appointment of persons to carry out investigations), in subsection (2)(a), omit “or 333G”.
I2519
Omit Part 20A (sections 333A to 333R; pensions guidance).
I2620
In section 429 (Parliamentary control of statutory instruments), in subsection (2), omit “, 333C, 333R”.
I321
1
Schedule 1ZA (the Financial Conduct Authority) is amended as follows.
2
In paragraph 8 (arrangements for discharging functions)—
I27a
in sub-paragraph (3)—
i
in paragraph (c)(i), for “, 312J or 333K” substitute “
or 312J
”
;
ii
omit paragraph (e);
I12b
after sub-paragraph (3), insert—
3A
In exercising its functions under sections 9(2) and 10 of the Financial Guidance and Claims Act 2018 (approving and reviewing standards set by single financial guidance body), the FCA must act through its governing body.
I27c
in sub-paragraph (4), omit “or 333P(9)”.
3
In paragraph 11 (annual report), in sub-paragraph (1)—
I27a
omit paragraph (hb);
I12b
omit the “and” at the end of paragraph (i), and after that paragraph insert—
ia
how, in its opinion, it has complied with its duties under sections 9(2) and 10 of the Financial Guidance and Claims Act 2018, and
I274
In paragraph 21 (financial penalty scheme), in sub-paragraph (2)—
a
at the end of paragraph (c) insert “
and
”
;
b
omit paragraph (e) (and the word “and” immediately preceding it).
5
In paragraph 23 (fees)—
a
in sub-paragraph (1)—
i
after “sections” insert “
137SA,
”
;
I12ii
after “137SA” insert “
, 137SB
”
;
I28iii
omit “, 333Q, 333R”;
b
in sub-paragraph (2ZA)—
I28i
omit paragraph (a) (and the word “and” immediately following it);
I28ii
in paragraph (b), for “sections 333R and 333T” substitute “
section 333T
”
;
iii
after paragraph (b), insert
, and
c
its functions under section 137SA.
I12iv
in paragraph (c)
(inserted by sub-paragraph (iii)), for “section 137SA” substitute “
sections 137SA and 137SB
”
.
22
Omit Schedule 1A (further provision about the consumer financial education body).
Freedom of Information Act 2000 (c. 36)
I1323
In Part 6 of Schedule 1 to the Freedom of Information Act 2000 (public authorities: general), at the appropriate place insert—
The single financial guidance body.
Equality Act 2010 (c. 15)
I1424
In Part 1 of Schedule 19 to the Equality Act 2010 (public authorities: general), under the heading “Industry, business, finance etc”, at the appropriate place insert—
The single financial guidance body.
Financial Services Act 2010 (c. 28)
25
The Financial Services Act 2010 is amended as follows.
26
In section 2 (enhancing public understanding of financial matters etc), omit subsections (1) and (6).
27
Omit Schedule 1 (further provision about the consumer financial education body).
Financial Services Act 2012 (c. 21)
I1528
The Financial Services Act 2012 is amended as follows.
29
Omit section 45 and Schedule 15 (the consumer financial education body).
I1630
In section 85 (relevant functions in relation to complaints scheme)—
a
in subsection (2)(a), after “legislative functions” insert “
and its standards review functions
”
;
I31b
in subsection (4)—
i
in paragraph (c)(i), for “, 312J or 333K” substitute “
or 312J
”
;
ii
in paragraph (e), omit “or 333P(9)”;
iii
omit paragraph (f).
c
After subsection (4) insert—
4A
For the purposes of subsection (2)(a), the FCA's standards review functions are the FCA's functions under sections 9(2) and 10 of the Financial Guidance and Claims Act 2018 (approving and reviewing standards set by single financial guidance body).
Pension Schemes Act 2015 (c. 8)
I2931
In Schedule 3 to the Pension Schemes Act 2015 (pensions guidance), omit paragraphs 2 to 5, 8(b), 9 to 11, 13 to 15 and 17.
Bank of England and Financial Services Act 2016 (c. 14)
I3032
In the Bank of England and Financial Services Act 2016, omit section 32 (amendments to section 333A of FSMA; pensions guidance).