§
Lords amendment: No. 554, in page 209, line 20, at end insert—
A1. In section 22 of the Charities Act 1960—
A2, In the Trustee Investments Act 1961—
3. In any units of an authorised unit trust scheme within the meaning of the Financial Services Act 1986";
(c) in paragraph 2(a) of Part IV of Schedule 1 for the words from "a recognised stock exchange" onwards there shall be substituted the words "a recognised investment exchange within the meaning of the Financial Services Act 1986";
(d) in the definition of "securities" in paragraph 4 of Part IV of that Schedule after the word "debentures" there shall be inserted the words "units within paragraph 3 of Part III of this Schedule".
A3. In section 32 of the Clergy Pensions Measure 1961 No. 3—
631
(a) for paragraph (t) of subsection (1) there shall be substituted—
(t) in any units in any authorised unit trust scheme or a recognised scheme within the meaning of the Financial Services Act 1986"; and
(b) in subsection (5)(a) for the words from "a recognised stock exchange" onwards there shall be substituted the words "a recognised investment exchange within the meaning of the Financial Services Act 1986.".
§
A4. In the Stock Transfer Act 1963—
(a) for paragraph (e) of section 1(4) there shall be substituted—
(e) units of an authorised unit trust scheme or a recognised scheme within the meaning of the Financial Services Act 1986"; and
(b) in the definition of "securities" in section 4(1) for the words from "unit trust scheme" to "scheme" there shall be substituted the words "collective investment scheme within the meaning of the Financial Services Act 1986".
§
A5. In the Stock Transfer Act (Northern Ireland) 1963—
(a) for paragraph (e) of section 1(4) there shall be substituted—
(e) units of an authorised unit trust scheme or a recognised scheme within the meaning of the Financial Services Act 1986"; and
(b) in the definition of "securities" in section 4(1) for the words from "unit trust scheme" to "scheme" there shall be substituted the words "collective investment scheme within the meaning of the Financial Services Act 1986".
§ A6. In section 25 of the Charities Act (Northern Ireland) 1964—
- (a) subsection (16) shall be omitted; and
- (b) in subsection (17) for the words "Subsection (15) and (16)" there shall be substituted the words "Subsection (15)".
§ A7. In the Local Authorities' Mutual Investment Trust Act 1968—
- (a) in section 1(2) for the words "recognised stock exchange within the meaning of the Prevention of Fraud (Investments) Act 1958" there shall be substituted the words "recognised investment exchange within the meaning of the Financial Services Act 1986"; and
- (b) in the definition of "unit trust scheme" in section 2 for the words "Financial Services Act 1986".
§
A8. In the Local Government Act 1972—
(a) in section 98(1) for the words from "and" onwards there shall be substituted the words "means—
(a) investments falling within any of paragraphs 1 to 6 of Schedule 1 to the Financial Services Act 1986 or, so far as relevant to any of those paragraphs, paragraph 11 of that Schedule; or
(b) rights (whether actual or contingent) in respect of money lent to, or deposited with, any society registered under the Industrial and Provident Societies Act 1965 or any building society within the meaning of the Building Societies Act 1986. "; and
(b) for the definition of "securities" in section 146(2) there shall be substituted—
" securities" has the meaning given in section 98(1) above".
A9. For subsection (1) of section 42 of the Local Government (Scotland) Act 1973 there shall be substituted—
(1) In sections 39 and 41 of this Act "securities" means—
§
A10. For paragraph 20 of Schedule 1 to the Industry Act 1975 there shall be substituted—
20. Section 52 of the Financial Services Act 1986 (restrictions on advertising) shall not apply to any investment advertisement within the meaning of that section which the Board issue or cause to be issued in the discharge of their functions.
§
All. For paragraph 20 of Schedule 1 to the Scottish Development Agency Act 1975 there shall be substituted—
20. Section 52 of the Financial Services Act 1986 (restrictions on advertising) shall not apply to any investment advertisement within the meaning of that section which the Agency issue or cause to be issued in the discharge of their functions.
A12. For paragraph 21 of Schedule 1 to the Welsh Development Agency Act 1975 there shall be substituted—
21. Section 52 of the Financial Services Act 1986 (restrictions on advertising) shall not apply to any investment advertisement within the meaning of that section which the Agency issue or cause to be issued in the discharge of their functions.
§ Mr. HowardI beg to move, That this House doth agree with the Lords in the said amendment.
§ Mr. Deputy SpeakerWith this, it will be convenient to discuss Lords amendments Nos. 555 to 581.
§ Mr. HowardI would have moved the amendment formally, but I seek your indulgence, Mr. Deputy Speaker, as I wish to associate myself with the remarks made by the hon. Member for Dagenham (Mr. Gould) in paying tribute to the part played in this legislative process by those in the other place and by Committee Members, many of whom are in the House today. I am particularly grateful to officials in the Department, who have borne the brunt of this heavy burden of legislation, and who have discharged their responsibilities in a way that goes far beyond the course of duty. I am enormously grateful to them for the assistance that they have given me throughout.
§ Question put and agreed to.
§ Lords amendments Nos. 555 to 581 agreed to.