PART 2

Amendments of Financial Services and Markets Act 2000

Official listing

FCA to exercise functions under Part 6 of FSMA 2000
16
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;
b
section 86;
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”,
b
in subsection (7)(a), for “competent authority”, in the first place, substitute “ FCA ”, and
c
in the heading, for “competent authority” substitute “ FCA ”.
7
In section 87E (transfer by competent authority of application for approval)—
a
in subsection (1), for “competent authority”, in the first place, substitute “ FCA ”,
b
in subsections (2) to (4), for “competent authority” substitute “ FCA ”, and
c
in the heading, for “competent authority” substitute “ FCA ”.
8
In section 87F (transfer to competent authority of application for approval)—
a
in subsection (1)—
i
for “Where the competent authority” substitute “ Where the FCA ”, and
ii
in paragraph (b), for “competent authority” substitute “ FCA ”,
b
in subsection (2), for “competent authority” substitute “ FCA ”, and
c
in the heading, for “competent authority” substitute “ FCA ”.
9
In section 87H (prospectus approved in another EEA State)—
a
in subsection (1), for “competent authority”, in the second and third places, substitute “ FCA ”, and
b
in subsection (3A), for “competent authority” substitute “ FCA ”.
10
In section 87I (provision of information to host member State)—
a
in subsection (1)—
i
for “competent authority”, in the first place, substitute “ FCA ”,
ii
in paragraph (b), for “competent authority” substitute “ FCA ”, and
iii
in paragraph (c), omit “other”,
b
in subsection (1A), for “competent authority”, in the first place, substitute “ FCA ”, and
c
in subsections (3) to (5), for “competent authority” substitute “ FCA ”.
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).
S. 16 in force at 24.1.2013 for specified purposes by S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3
S. 16 in force at 1.4.2013 in so far as not already in force by S.I. 2013/423, art. 3, Sch.