Source: http://www.legislation.gov.uk/ukpga/1989/40/section/82
Timestamp: 2018-01-22 02:43:19
Document Index: 68916979

Matched Legal Cases: ['art. 64', 'art. 64', 'art. 2', 'art. 2', 'art. 2', 'art. 6']

s. 82(2)(a)(i) words inserted by S.I. 2008/948 Sch. 1 para. 157
s. 82(2)(a)(ii) words substituted by 2012 c. 21 Sch. 18 para. 63(2)(a)
s. 82(2)(a)(iii) omitted by 2012 c. 21 Sch. 18 para. 63(2)(b)
s. 82(3) modified (cond.) by S.I. 2013/442 art. 64(2)
s. 82(3) words substituted by 2012 c. 21 Sch. 18 para. 63(3)
s. 82(5) restricted (cond.) by S.I. 2013/442 art. 64(3)
s. 82(5) words substituted by 2012 c. 21 Sch. 18 para. 63(5)(a)
s. 82(5) words substituted by 2012 c. 21 Sch. 18 para. 63(5)(b)
s. 82(5) words substituted by 2012 c. 21 Sch. 18 para. 63(5)(c)
82 Request for assistance by overseas regulatory authority.E+W+S+N.I.
(1)The powers conferred by section 83 are exercisable by the Secretary of State for the purpose of assisting an overseas regulatory authority which has requested his assistance in connection with inquiries being carried out by it or on its behalf.
[F1(a)any function corresponding to—
(i)any function of the Secretary of State under the Companies Act 1985;
(ii)any function of the Financial Services Authority under the Financial Services and Markets Act 2000;
(iii)any function exercised by the competent authority under Part VI of that Act F2. . . ;]
(b)any function in connection with the investigation of, or the enforcement of rules (whether or not having the force of law) relating to, conduct of the kind prohibited by [F3Part V of the Criminal Justice Act 1993 (insider dealing)], or
(3)The Secretary of State shall not exercise the powers conferred by section 83 unless [F4he and the Financial Services Authority are] satisfied that the assistance requested by the overseas regulatory authority is for the purposes of its regulatory functions.
(5)Before deciding whether to exercise those powers in a case where the overseas regulatory authority is a banking supervisor, the Secretary of State shall consult the [F5Financial Services Authority].
A “banking supervisor” means an overseas regulatory authority with respect to which the [F5Financial Services Authority]has notified the Secretary of State, for the purposes of this subsection, that it exercises functions corresponding to those of the [F6Authority][F7in relation to authorised persons with permission under the Financial Services and Markets Act 2000 to accept deposits].
[F8(5A)In subsection (5), “authorised person” has the meaning given in the Financial Services and Markets Act 2000 and the references to deposits and their acceptance must be read with—
(a)section 22 of that Act;
F1S. 82(2)(a) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 76(2)
F2Words in s. 82(2)(a)(iii) omitted (1.7.2005) by virtue of The Prospectus Regulations 2005 (S.I. 2005/1433), reg. 2(3), Sch. 3 para. 1
F3Words in s. 82(2)(b) substituted (1.3.1994) by 1993 c. 36, s. 79(13), Sch. 5 Pt. I para. 16; S.I. 1994/242, art. 2, Sch.
F4Words in s. 82(3) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 76(3)
F5Words in s. 82(5) substituted (1.6.1998) by 1998 c. 11, s. 23, Sch. 5 Pt. IV c. II para. 66(2)(b)(i); S.I. 1998/1120, art. 2
F6Word in s. 82(5) substituted (1.6.1998) by 1998 c. 11, s. 23, Sch. 5 Pt. IV c. II para. 66(2)(b)(ii); S.I. 1998/1120, art. 2
F7Words in the definition of “banking supervisor” in s. 82(5) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 76(4)
F8S. 82(5A) inserted (1.12.2001) by S.I. 2001/3649, arts. 1, 76(5)
C1S. 82(3): (7.6.1992) certain functions made exercisable concurrently by the Secretary of State and the Treasury by S.I. 1992/1315, arts. 5, 8, Sch. 3 para. 3 (with art. 6).