PART 2AMENDMENTS TO THE COMPANIES LEGISLATION

The Companies' Act 1989 (c. 40)

Power to make provision about certain charges other than market charges85

1

Section 176 of the Companies Act 1989 (power to make provision about certain other charges) is amended as follows.

2

In paragraph (b) of subsection (2)—

a

the words “Financial Services” are repealed87; and

b

for “section 171” substitute “section 301 of the Financial Services and Markets Act 2000”.

3

For paragraphs (d) and (e) of that subsection substitute—

d

a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to carry on a relevant regulated activity, or

e

an international securities self-regulating organisation approved for the purposes of an order made under section 22 of the Financial Services and Markets Act 2000,

4

In subsection (6)88—

a

the words “Financial Services” are repealed; and

b

for “section 171” substitute “section 301 of the Financial Services and Markets Act 2000”.

5

After subsection (7) insert—

8

For the purposes of subsection (2)(d), “relevant regulated activity” means—

a

dealing in investments as principal or as agent;

b

arranging deals in investments;

c

managing investments;

d

safeguarding and administering investments;

e

sending dematerialised instructions; or

f

establishing etc. a collective investment scheme.

9

Subsection (8) must be read with—

a

section 22 of the Financial Services and Markets Act 2000;

b

any relevant order under that section; and

c

Schedule 2 to that Act.