Financial Services and Markets Bill — Restrictions on financial promotion — 9 Feb 2000
I beg to move amendment No. 241, in page 2, line 23, leave out "advice and" and insert "general".
Mr. Deputy Speaker (Sir Alan Haselhurst):
With this it will be convenient to discuss Government amendments Nos. 242 to 244, 90, 117, 418, 419, 448, 125, 126, 128 to 134, 449, 454, 138, 141 to 143, 330 and 443.
Amendment agreed to.
Amendment made: No. 242, in page 2, line 26, at end insert--
I beg to move amendment No. 235, in page 2, line 26, at end insert--
"(4A) The Authority must ensure that its staff responsible for or involved in--
(a) monitoring, investigating or disciplining authorised or approved persons or,
(b) investigating persons suspected of engaging in, or of requiring or encouraging another person to engage in, market abuse or any offence for which it can institute proceedings, and
(c) drafting, or giving instructions to the draftsman of, rules, statements of principle or codes
shall be suitably competent and shall have sufficient knowledge of the relevant financial sector to fulfil their functions.".
It being one hour after the commencement of proceedings on consideration of the Bill, Mr. Deputy Speaker, pursuant to Order [this day], put forthwith the Question already proposed from the Chair.
Amendment negatived.
Amendment made: No. 405, in page 3, line 19, leave out "by a regulated person" and insert--
"(a) by a regulated person, or
(b) in contravention of the general prohibition,".-- [Mr. Allen.]
Amendment made: No. 67, in page 8, line 7, leave out
"in relation to that activity".-- [Mr. Allen.]
I beg to move amendment No. 4, in page 8, line 21, leave out from "communicate" to "activity" in line 22 and insert--
"or cause to be communicated--
(a) an invitation to engage in investment activity; or
(b) information which is intended or might reasonably be presumed to be intended to lead directly or indirectly to engagement in such".
Amendment, by leave, withdrawn.
Amendment proposed: No. 5, in page 8, line 28, leave out
Question put, That the amendment be made:--
The House divided: Ayes 175, Noes 312.
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