Financial Services Act 2012

This section has no associated Explanatory Notes

8(1)Section 168 (appointment of investigator in specific cases) is amended as follows.

(2)In subsection (1)—

(a)omit paragraph (a), and

(b)in paragraph (b), for “191” substitute “191F”.

(3)In subsection (2)—

(a)in paragraph (a), for “or 397” substitute “or under Part 7 of the Financial Services Act 2012”, and

(b)after paragraph (b) insert—

(ba)an authorised person may have contravened section 20 in relation to a credit-related regulated activity;.

(4)In subsection (4)—

(a)in the opening words, for “the Authority” substitute “an investigating authority”,

(b)in paragraph (c), for “Authority” substitute “investigating authority”,

(c)after that paragraph insert—

(ca)a recognised investment exchange may have contravened the recognition requirements (within the meaning of Part 18);,

(d)in paragraph (f), for “an authorised or exempt person” substitute “a person”,

(e)in paragraph (h), for “the Authority” substitute “a regulator”,

(f)in paragraph (j), omit the words from “or by any” to the end, and

(g)for paragraph (k) substitute—

(k)a person may have contravened a qualifying EU provision that is specified, or of a description specified, for the purposes of this subsection by the Treasury by order.

(5)In subsection (5), for “Authority” substitute “investigating authority”.

(6)For subsection (6) substitute—

(6)Investigating authority” means—

(a)in subsections (1) to (3), the FCA, the PRA or the Secretary of State;

(b)in subsections (4) and (5), the FCA or the PRA.