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Financial Services and Markets Act 2000

Section 401: Proceedings for offences

710.This section confers powers to prosecute offences under this Act.  The Secretary of State and the Authority can prosecute any offence in England, Wales or Northern Ireland.  Others can only prosecute with the consent of the Director of Public Prosecutions in England and Wales or, in Northern Ireland, with the consent of the Director of Public Prosecutions for Northern Ireland.  The DGFT can prosecute in England, Wales or Northern Ireland for breaches of any prohibition on carrying on any CCA 1974 business he has imposed under section 203.

711.Subsections (5) and (6) give the Treasury the power to set conditions relating to the way in which the Authority can bring proceedings for offences under this Act.  For example, the Treasury could require the Authority to comply with the Code for Crown Prosecutors.   In Scotland, prosecution will be the responsibility of the Lord Advocate.

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