Financial Services and Markets Act 2000 (c. 8)U.K.
286(1)Schedule 13 (Financial Services and Markets Tribunal) of the Financial Services and Markets Act 2000 is amended as follows.U.K.
(2)In paragraph 2 (president of the tribunal), after sub-paragraph (7) insert—
“(8)The Lord Chancellor may appoint a person under sub-paragraph (7)(b) only after consulting the following—
(a)the Lord Chief Justice of England and Wales;
(b)the Lord President of the Court of Session;
(c)the Lord Chief Justice of Northern Ireland.
(9)The Lord Chief Justice of England and Wales may nominate a judicial office holder (as defined in section 109(4) of the Constitutional Reform Act 2005) to exercise his functions under this paragraph.
(10)The Lord President of the Court of Session may nominate a judge of the Court of Session who is a member of the First or Second Division of the Inner House of that Court to exercise his functions under this paragraph.
(11)The Lord Chief Justice of Northern Ireland may nominate any of the following to exercise his functions under this paragraph—
(a)the holder of one of the offices listed in Schedule 1 to the Justice (Northern Ireland) Act 2002;
(b)a Lord Justice of Appeal (as defined in section 88 of that Act).”
(3)In paragraph 4 (terms of office), after sub-paragraph (2) insert—
“(2A)The Lord Chancellor may remove a person under sub-paragraph (2) only with the concurrence of the appropriate senior judge.
(2B)The appropriate senior judge is the Lord Chief Justice of England and Wales, unless—
(a)the person to be removed exercises functions wholly or mainly in Scotland, in which case it is the Lord President of the Court of Session, or
(b)the person to be removed exercises functions wholly or mainly in Northern Ireland, in which case it is the Lord Chief Justice of Northern Ireland.”
(4)In paragraph 8 (sittings) after “Lord Chancellor may” insert “ , after consulting the President of the Financial Services and Markets Tribunal, ”.