Financial Services and Markets Act 2000

The Authority as Competent Authority for Part VI

General

1 This Act applies in relation to the Authority when it is exercising functions under Part VI as the competent authority subject to the following modifications.

The Authority’s general functions

2 In section 2—

(a) subsection (4)(a) does not apply to listing rules;

(b) subsection (4)(c) does not apply to general guidance given in relation to Part VI; and

(c) subsection (4)(d) does not apply to functions under Part VI.

Duty to consult

3 Section 8 does not apply.

Rules

4 (1) Sections 149, 153, 154 and 156 do not apply.

(2) Section 155 has effect as if—

(a) the reference in subsection (2)(c) to the general duties of the Authority under section 2 were a reference to its duty under section 73; and

(b) section 99 were included in the provisions referred to in subsection (9).

Statements of policy

5 (1) Paragraph 5 of Schedule 1 has effect as if the requirement to act through the Authority’s governing body applied also to the exercise of its functions of publishing statements under section 93.

(2) Paragraph 1 of Schedule 1 has effect as if section 93 were included in the provisions referred to in sub-paragraph (2)(d).

Penalties

6 Paragraph 16 of Schedule 1 does not apply in relation to penalties under Part VI (for which separate provision is made by section 100).

Fees

7 Paragraph 17 of Schedule 1 does not apply in relation to fees payable under Part VI (for which separate provision is made by section 99).

Exemption from liability in damages

8 Schedule 1 has effect as if—

(a) sub-paragraph (1) of paragraph 19 were omitted (similar provision being made in relation to the competent authority by section 102); and

(b) for the words from the beginning to “(a)” in sub-paragraph (3) of that paragraph, there were substituted “Sub-paragraph (2) does not apply”.