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).