Financial Services and Markets Bill — 18 May 2000 at 19:03

[Amendment No. 57 not moved.]

moved Amendment No. 58:

Page 72, line 24, leave out from ("have") to end of line 26 and insert ("to disclose to a person ("B") for or with whom A does business in the course of carrying on any regulated or other activity;

(b) specify circumstances in which A may withhold information which he would otherwise have to disclose to B;

(c) require A not to use for the benefit of B information A holds which A would otherwise have to use in that way;

(d) specify circumstances in which A may decide not to use for the benefit of B information A holds which A would otherwise have to use in that way.").

On Question, amendment agreed to.

[Amendment No. 59 not moved.]

moved Amendment No. 60:

Page 72, line 27, leave out subsections (3) and (4).

On Question, amendment agreed to.

Clause 145 [Actions for damages]:

moved Amendment Nos. 61:

Page 74, line 21, leave out from beginning to ("subject") in line 23 and insert ("In prescribed cases, a contravention of a rule which would be actionable at the suit of a private person is actionable at the suit of a person who is not a private person,").

On Question, amendment agreed to.

[Amendment No. 62 not moved.]

moved Amendment No. 63:

After Clause 153, insert the following new clause--

:TITLE3:("CHAPTER IIA")

:TITLE3:POLICIES RELATING TO TAKEOVER REGULATION

:TITLE3:MARKET ABUSE: BEHAVIOUR CONFORMING WITH CITY CODE

.--(1) Subject to subsections (2) and (3), the Authority is authorised to include in the code issued under section 115 a statement that behaviour of a person which is in conformity with the City Code does not amount to market abuse.

(2) Subsection (1) does not apply in respect of behaviour which satisfies the condition in subsection 114(2)(a).

(3) A statement made under subsection (1) may include such conditions and limitations as the Authority considers appropriate, including conditions and limitations specifying the behaviour and the persons covered by the statement.

(4) The Authority may at any time alter or replace any statement made under subsection (1).

(5) If a person behaves in a way which fulfils the requirements of any statement included pursuant to subsection (1) in the code issued under section 115, that behaviour of his is to be taken, for the purposes of this Act, as not amounting to market abuse.

(6) In this section--

"behaviour of a person which is in conformity with the City Code" means behaviour of a person which in the opinion of the Panel conforms with the responsibilities imposed on that person by the City Code;

"the opinion of the Panel" includes any revised opinion formed by the Panel as a result of any further consideration;

"City Code" means the City Code on Takeovers and Mergers issued by the Panel as applied by the Panel and as amended from time to time by the Panel;

"the Panel" means the Panel on Takeovers and Mergers.").

On Question, Whether the said amendment (No. 63) shall be agreed to?

Their Lordships divided: Contents, 144; Not-Contents, 106.

Debate in Parliament | Historical Hansard | Source |

Public Whip is run as a free not-for-profit service. If you'd like to support us, please consider switching your (UK) electricity and/or gas to Octopus Energy or tip us via Ko-Fi.

Party Summary

Votes by party, red entries are votes against the majority for that party.

What is Tell? '+1 tell' means that in addition one member of that party was a teller for that division lobby.

What is Turnout? This is measured against the total membership of the party at the time of the vote.

PartyMajority (Content)Minority (Not-Content)Turnout
Con108 (+2 tell) 047.6%
Crossbench7 57.3%
Independent Labour0 1100.0%
Lab0 97 (+2 tell)51.0%
LDem26 042.6%
Total:141 10338.0%

Rebel Voters - sorted by party

Lords for which their vote in this division differed from the majority vote of their party. You can see all votes in this division, or every eligible lord who could have voted in this division

Sort by: Name | Party | Vote

NamePartyVote
Viscount Allenby of MegiddoCrossbench (front bench)no
Lord Burns Crossbench (front bench)no
Lord Marsh Crossbenchno
Baroness O'Neill of BengarveCrossbenchno
Viscount Tenby Crossbench (front bench)no

About the Project

The Public Whip is a not-for-profit, open source website created in 2003 by Francis Irving and Julian Todd and now run by Bairwell Ltd.

The Whip on the Web

Help keep PublicWhip alive