HC Deb 25 July 1990 vol 177 cc523-4

'.—(1) In this section— the intervention powers" means the powers given to the Board by section (Board's powers of intervention); and a direction" means a direction given under that section.

(2) An authorised practitioner to whom a direction is given may appeal against it to a Conveyancing Appeal Tribunal.

(3) Any authorised practitioner to whom a direction is given shall comply with it as soon as it takes effect (and whether or not he proposes to appeal).

(4) If, on an application made to the High Court by the Board, the court is satisfied—

  1. (a) that an authorised practitioner has failed, within a reasonable time, to comply with any direction given to it; or
  2. (b) that there is a reasonable likelihood that an authorised practitioner will so fail,
it may make an order requiring the authorised practitioner, and any other person whom the court considers it appropriate to subject to its order, to take such steps as the court may direct with a view to securing compliance with the direction.

(5) Where an authorised practitioner is—

  1. (a) an authorised person under the Financial Services Act 1986; or
  2. (b) an appointed representative (as defined in section 44(2) of that Act) of such an authorised person,

the intervention powers may be exercised only after consultation with the body by reference to which the authorised person acquired its authorisation under that Act.

(6) Where an authorised practitioner is—

  1. (a) an institution which is authorised by the Bank of England under Part I of the Banking Act 1987 to carry on a deposit-taking business; or
  2. (b) an appointed representative of such an institution,

the intervention powers may be exercised only after consultation with the Bank of England.

(7) Where an authorised practitioner is—

  1. (a) a building society which is authorised to raise money from its members by the Building Societies Commission under section 9 of the Building Societies Act 1986; or
  2. (b) an appointed representative of such a building society,

the intervention powers may be exercised only after consultation with the Commission.

(8) Where an authorised practitioner falls within more than one of subsections (5) to (7), the Board shall comply with each of the subsections in question.'.—[The Solicitor-General.]

Brought up, read the First and Second time, and added to the Bill.

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