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Inquiries Act 2005

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Amendments etc

46Inquiries under the Financial Services and Markets Act 2000

(1)Section 14 of the Financial Services and Markets Act 2000 (c. 8) (cases in which the Treasury may arrange independent inquiries) is amended as follows.

(2)In subsection (2)(b)(i), after “by this Act” there is inserted “, or by any previous statutory provision,”.

(3)In subsection (3)(b), for the words after “but for a serious failure” there is substituted “in—

(i)the regulatory system established by Part 6 or by any previous statutory provision concerned with the official listing of securities; or

(ii)the operation of that system.”

(4)After subsection (5) there is inserted—

“(5A)“Event” does not include any event occurring before 1st December 2001 (but no such limitation applies to the reference in subsection (4) to surrounding circumstances).”

47Inquiries etc under Northern Ireland legislation

(1)For section 23 of the Interpretation Act (Northern Ireland) 1954 (c. 33 (N.I.)) (inquiries and investigations) there is substituted—

“23Inquiries and investigations

The provisions of Schedule A1 to this Act shall have effect in relation to any local or other inquiry or any investigation which a Minister or Northern Ireland department causes to be held or made under any enactment passed or made—

(a)after the commencement of this Act, and

(b)before the commencement of section 47 of the Inquiries Act 2005.”

(2)The Schedule set out in Schedule 1 to this Act is inserted into that Act as Schedule A1.

48Minor and consequential amendments

(1)Schedule 2 (minor and consequential amendments) has effect.

(2)In Schedule 1 to the National Assembly for Wales (Transfer of Functions) Order 1999 (S.I. 1999/672) a reference to an Act that is amended by Schedule 2 to this Act is to be read as referring to that Act as so amended.

49Repeals and revocations

(1)The Tribunals of Inquiry (Evidence) Act 1921 (c. 7) is repealed.

(2)The provisions set out in Schedule 3 are repealed or revoked to the extent specified.

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