PART 2Amendments of Financial Services and Markets Act 2000

Official listing

I1I216FCA to exercise functions under Part 6 of FSMA 2000

1

FSMA 2000 is amended as follows.

2

In each of the provisions of Part 6 (official listing etc) mentioned in subsection (3)—

a

for “competent authority” or “competent authority's”, in each place, substitute “ FCA ” or “FCA's”, and

b

for “the authority” or “the Authority”, in each place, substitute “ the FCA ”.

3

Those provisions are—

a

sections 73A to 84;

F1b

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c

sections 87B to 87D;

d

section 87G;

e

sections 87J to 87O (including the italic heading before section 87J);

f

sections 87Q to 88;

g

sections 89A to 97 (including the italic heading before section 89H and the heading to that section);

h

section 101(2);

i

section 103(1).

4

Before section 73A insert an italic heading “Rules”.

5

In section 77(3) (discontinuance and suspension of listing), for “sections 96 and 99” substitute “ section 96 and paragraph 23(6) of Schedule 1ZA ”.

6

In section 87A (criteria for approval of prospectus)—

a

in subsection (1), for “competent authority” substitute “ “FCA”,

F2b

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c

in the heading, for “competent authority” substitute “ FCA ”.

F37

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F38

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F39

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F310

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11

In section 87P (exercise of powers at request of competent authority of another EEA State)—

a

in subsection (1)(c), for “competent authority”, in the second place, substitute “ FCA ”, and

b

in subsection (2), for “competent authority” substitute “ FCA ”.

12

In section 100A (exercise of powers where UK is host member State)—

a

in subsections (1) and (2), for “competent authority” substitute “ FCA ”,

b

in subsection (3), for “the authority”, in both places, substitute “ the FCA ”,

c

in subsection (4), for “The authority” substitute “ The FCA ”, and

d

in subsections (5) and (6), for “the authority” substitute “ the FCA ”.

13

In Schedule 10 (compensation: exemptions), for “competent authority”, in each place, substitute “ FCA ”.

14

Omit the following provisions—

a

section 72 (Financial Services Authority to exercise functions of the competent authority under Part 6) and the italic heading before it;

b

section 73 (general duty of the competent authority);

c

section 99 (fees);

d

section 100 (penalties);

e

in section 101 (general provisions), subsections (1) and (3) to (8);

f

section 102 (exemption from liability in damages);

g

in section 103 (interpretation), subsections (2) and (3);

h

in section 195 (exercise of power in support of overseas regulator), subsection (4)(b);

i

in section 410 (international obligations), subsection (4)(b);

j

in section 415 (jurisdiction in civil proceedings), subsection (1)(b);

k

Schedule 7 (modification of Act in its application to the Financial Services Authority when acting as competent authority for purposes of Part 6);

l

Schedule 8 (power to transfer functions under Part 6 to other persons).