Amendment of article 3 of the 1979 Order
5. In article 3 of the 1979 Order, for paragraph (d) (exceptions from Article 5(3)(b) of the 1978 Order), there is substituted—
“(d)any decision by the Financial Services Authority—
(i)to refuse an application for Part IV permission under the 2000 Act,
(ii)to vary or to cancel such permission (or to refuse to vary or cancel such permission) or to impose a requirement under section 43 of that Act or,
(iii)to make, or to refuse to vary or revoke, an order under section 56 of that Act (prohibition orders),
(iv)to refuse an application for the Authority’s approval under section 59 of that Act or to withdraw such approval,
(v)to refuse to make, or to revoke, an order declaring a unit trust scheme to be an authorised unit trust scheme under section 243 of the 2000 Act or to refuse to give its approval under section 251 of the 2000 Act to a proposal to replace the manager or trustee of such a scheme,
(vi)to give a direction under section 257 of the 2000 Act (authorised unit trust schemes), or to vary (or to refuse to vary or revoke) such a direction,
(vii)to refuse to make, or to revoke, an authorisation order under regulation 14 of the Open-Ended Investment companies Regulations 2001(1) or to refuse to give its approval under regulation 21 of those Regulations to a proposal to replace a director or to appoint an additional director of an open-ended investment company,
(viii)to give a direction to an open-ended investment company under regulation 25 of those regulations or to vary (or to refuse to vary or revoke) such a direction,
(ix)to refuse to give its approval to a collective investment scheme being recognised under section 270 of the 2000 Act or to direct that such a scheme cease to be recognised by virtue of that section or to refuse to make, or to revoke an order declaring a collective investment scheme to be a recognised scheme under section 272 of that Act,
(x)to refuse to make, or to revoke, a recognition order under section 290 of the 2000 Act, otherwise than by virtue of section 292(2) of that Act, or to give a direction to a UK recognised investment exchange or UK recognised clearing house under section 296 of the 2000 Act,
(xi)to make, or to refuse to vary or to revoke, an order under section 329 (orders in respect of members of a designated professional body in relation to the general prohibition), or
(xii)to dismiss, fail to promote or exclude a person from being a key worker of the Authority,
by reason of, or partly by reason of, a spent conviction of an individual for a relevant offence, or of any circumstances ancillary to such a conviction or of a failure (whether or not by that individual) to disclose such a conviction or any such circumstances;
(e)any decision by the scheme operator (within the meaning of section 225 of the 2000 Act) of the Financial Ombudsman Service to dismiss, or not to appoint an individual as, an ombudsman (within the meaning of Schedule 17 to the 2000 Act) of the Financial Ombudsman Service by reason of, or partly by reason of, his spent conviction for a relevant offence, or of any circumstances ancillary to such a conviction or of a failure (whether or not by that individual) to disclose such a conviction or any such circumstances;
(f)any decision of the competent authority for listing—
(i)to refuse an application for listing under Part VI of the 2000 Act or to discontinue or suspend the listing of any securities under section 77 of that Act,
(ii)to refuse to grant a person’s application for approval as a sponsor under section 88 of the 2000 Act or to cancel such approval, or
(iii)to dismiss, fail to promote or exclude a person from being a key worker of the competent authority for listing,
by reason of, or partly by reason of, a spent conviction of an individual for a relevant offence, or of any circumstances ancillary to such a conviction or of a failure (whether or not by that individual) to disclose such a conviction or any such circumstances;
(g)any decision of anyone who is specified in any of sub-paragraphs 2 to 4 or 5 to 7 of the second column of the Table in Article 3(g), other than the authority, to dismiss an individual who has, or to fail to promote or exclude an individual who is seeking to obtain, the status specified in the corresponding entry in the first column of that table (but not, where applicable, the status of being an associate of another person), by reason of, or partly by reason of, a spent conviction of that individual or of his associate for a relevant offence, or of any circumstances ancillary to such a conviction or of a failure (whether or not by that individual) to disclose such a conviction or any such circumstances;
(h)any decision of anyone who is specified in sub-paragraphs 8(a), 14(a) or 16(a) of the second column of the Table in Article 3(g) to dismiss an individual who has, or to fail to promote or exclude an individual who is seeking to obtain, the status specified in the corresponding entry in sub-paragraph (b) of the first column of that Table (associate), by reason of, or partly by reason of, a spent conviction of that individual for a relevant offence, or of any circumstances ancillary to such a conviction or of a failure (whether or not by that individual) to disclose such a conviction or any such circumstances;
(i)any decision of the Council of Lloyd's—
(i)to refuse to admit any person as, or to exclude, an underwriting agent (within the meaning of section 2 of Lloyd’s Act 1982), where that person has, or who has applied for, Part IV permission, or
(ii)to dismiss, or to exclude a person from being, an associate of the Council of Lloyd's, by reason of, or partly by reason of, a spent conviction of an individual for a relevant offence, or of any circumstances ancillary to such a conviction or of a failure (whether or not by that individual) to disclose such a conviction or any such circumstances;
(j)any decision of a UK recognised investment exchange or UK recognised clearing house to refuse to admit any person as, or to exclude a member by reason of, or partly by reason of, a spent conviction of an individual for a relevant offence, or of any circumstances ancillary to such a conviction or of a failure (whether or not by that individual) to disclose such a conviction or any such circumstances.”.
S.I. 2001/1128