§ POWER TO IMPOSE PENALTIES IN CASES OF MARKET ABUSE
§
Lords amendment: No. 131, in page 54, line 6, at end insert—
("( ) But the Authority may not impose a penalty on a person if, having considered any representations made to it in response to a warning notice, there are reasonable grounds for it to be satisfied that—
- (a) he believed, on reasonable grounds, that his behaviour did not fall within paragraph (a) or (b) of subsection (1); or
- (b) he took all reasonable precautions and exercised all due diligence to avoid behaving in a way which fell within paragraph (a) or (b) of that subsection.")
§ Amendment proposed to the Lords amendment: in line 9, after final 'subsection', insert '; or—
- (c) he did not intend to give anyone a false or misleading impression falling within section 109(2)(b) and in engaging in the relevant behaviour he was not reckless as to whether he might give anyone that false or misleading impression; or
- (d) where the relevant behaviour fell within section 109(21(b) and was engaged in by a person other than an individual, the impression given by his behaviour was misleading only because of information which the individual who engaged in that behaviour on his behalf did not know about and that individual was an individual to whom subsection ( ) applies.
( ) This subsection applies to an individual if the information was withheld from him in circumstances permitted by control of information rules and he was not directly or indirectly required to engage in that behaviour by a person who did know the information.'.—[Mr. Heathcoat-Amoryl
§ Question put, That the amendment to the Lords amendment be made:—
§ The House divided: Ayes 112, Noes 301.
110| Division No. 212] | [9.19 pm |
| AYES | |
| Ainsworth, Peter (E Surrey) | Fraser, Christopher |
| Arbuthnot, Rt Hon James | Gale, Roger |
| Baldry, Tony | Gill, Christopher |
| Bercow, John | Gillan, Mrs Cheryl |
| Beresford, Sir Paul | Gray, James |
| Blunt, Crispin | Grieve, Dominic |
| Boswell, Tim | Gummer, Rt Hon John |
| Bottomley, Peter (Worthing W) | Hammond, Philip |
| Bottomley, Rt Hon Mrs Virginia | Hawkins, Nick |
| Brady, Graham | Heald, Oliver |
| Brazier, Julian | Heathcoat—Amory, Rt Hon David |
| Brooke, Rt Hon Peter | Hogg, Rt Hon Douglas |
| Browning, Mrs Angela | Horam, John |
| Bruce, Ian (S Dorset) | Howard, Rt Hon Michael |
| Burns, Simon | Howarth, Gerald (Aldershot) |
| Butterfill, John | Jack, Rt Hon Michael |
| Cash, William | Jenkin, Bernard |
| Clappison, James | Key, Robert |
| Collins, Tim | King, Rt Hon Tom (Bridgwater) |
| Cran, James | Laing, Mrs Eleanor |
| Curry, Rt Hon David | Lansley, Andrew |
| Davies, Quentin (Grantham) | Leigh, Edward |
| Day, Stephen | Letwin, Oliver |
| Duncan Smith, Iain | Lewis, Dr Julian (New Forest E) |
| Evans, Nigel | Lidington, David |
| Faber, David | Lloyd, Rt Hon Sir Peter (Fareham) |
| Fabricant, Michael | Loughton, Tim |
| Fallon, Michael | Lyell, Rt Hon Sir Nicholas |
| Flight, Howard | MacGregor, Rt Hon John |
| Forth, Rt Hon Eric | McIntosh, Miss Anne |
| Fowler, Rt Hon Sir Norman | Maclean, Rt Hon David |
| Fox, Dr Liam | McLoughlin, Patrick |
| Madel, Sir David | Spicer, Sir Michael |
| Mates, Michael | Spring, Richard |
| Mawhinney, Rt Hon Sir Brian | Stanley, Rt Hon Sir John |
| May, Mrs Theresa | Swayne, Desmond |
| Moss, Malcolm | Syms, Robert |
| Nicholls, Patrick | Tapsell, Sir Peter |
| O'Brien, Stephen (Eddisbury) | Taylor, Ian (Esher & Walton) |
| Ottaway, Richard | Taylor, John M (Solihull) |
| Page, Richard | Taylor, Sir Teddy |
| Paice James | Tredinnick, David |
| Paterson, Owen | Trend, Michael |
| Pickles, Eric | Tyrie, Andrew |
| Portillo, Rt Hon Michael | Viggers, Peter |
| Randall, John | Walter, Robert |
| Redwood, Rt Hon John | Wells, Bowen |
| Robathan, Andrew | Whitney, Sir Raymond |
| Robertson, Laurence | Whittingdale, John |
| Roe, Mrs Marion (Broxbourne) | Willetts, David |
| Rowe, Andrew (Faversham) | Winterton, Mrs Ann (Congleton) |
| Ruffley, David | Winterton, Nicholas (Macclesfield) |
| Sayeed, Jonathan | Yeo, Tim |
| Shephard, Rt Hon Mrs Gillian | Young, Rt Hon Sir George |
| Shepherd, Richard | Tellers for the Ayes: |
| Simpson, Keith (Mid—Norfolk) | Mr. Geoffrey Clifton-Brown |
| Soames, Nicholas | and |
| Spelman, Mrs Caroline | Mr. Peter Luff. |
| NOES | |
| Adams, Mrs Irene (Paisley N) | Caton, Martin |
| Ainger, Nick | Chapman, Ben (Wirral S) |
| Ainsworth, Robert (Cov'try NE) | Clapham, Michael |
| Alexander, Douglas | Clark, Rt Hon Dr David (S Shields) |
| Allen, Graham | Clark, Paul (Gillingham) |
| Anderson, Janet (Rossendale) | Clarke, Charles (Norwich S) |
| Armstrong, Rt Hon Ms Hilary | Clarke, Eric (Midlothian) |
| Ashdown, Rt Hon Paddy | Clarke, Rt Hon Tom (Coatbridge) |
| Atherton, Ms Candy | Clarke, Tony (Northampton S) |
| Austin, John | Clelland, David |
| Battle, John | Clwyd, Ann |
| Bayley, Hugh | Coffey, Ms Ann |
| Beard, Nigel | Coleman, lain |
| Beckett, Rt Hon Mrs Margaret | Connarty, Michael |
| Begg, Miss Anne | Cook, Frank (Stockton N) |
| Bell, Martin (Tatton) | Corbett, Robin |
| Benn, Hilary (Leeds C) | Cotter, Brian |
| Benn, Rt Hon Tony (Chesterfield) | Cousins, Jim |
| Bennett, Andrew F | Crausby, David |
| Benton, Joe | Cryer, Mrs Ann (Keighley) |
| Bermingham, Gerald | Cryer, John (Hornchurch) |
| Berry, Roger | Cummings, John |
| Best, Harold | Cunningham, Rt Hon Dr Jack |
| Betts, Clive | (Copeland) |
| Blackman, Liz | Cunningham, Jim (Cov'try S) |
| Blears, Ms Hazel | Darvill, Keith |
| Blizzard, Bob | Davey, Valerie (Bristol W) |
| Boateng, Rt Hon Paul | Davidson, Ian |
| Borrow, David | Davies, Rt Hon Denzil (Llanelli) |
| Bradley, Keith (Withington) | Davies, Geraint (Croydon C) |
| Bradley, Peter (The Wrekin) | Dawson, Hilton |
| Bradshaw, Ben | Dean, Mrs Janet |
| Brinton, Mrs Helen | Denham, John |
| Brown, Russell (Dumfries) | Dismore, Andrew |
| Buck, Ms Karen | Dobbin, Jim |
| Burgon, Colin | Donohoe, Brian H |
| Burstow, Paul | Doran, Frank |
| Butler, Mrs Christine | Dowd, Jim |
| Byers, Rt Hon Stephen | Drew, David |
| Caborn, Rt Hon Richard | Eagle, Maria (L'pool Garston) |
| Campbell, Rt Hon Menzies | Edwards, Huw |
| (NE Fife) | Efford, Clive |
| Campbell, Ronnie (Blyth V) | Ellman, Mrs Louise |
| Campbell—Savours, Dale | Ennis, Jeff |
| Cann, Jamie | Field, Rt Hon Frank |
| Caplin, Ivor | Fisher, Mark |
| Casale, Roger | Fitzpatrick, Jim |
| Fitzsimons, Mrs Lorna | Love, Andrew |
| Foster, Michael Jabez (Hastings) | McAvoy, Thomas |
| Foster, Michael J (Worcester) | McCabe, Steve |
| Foulkes, George | McCartney, Rt Hon Ian |
| Galloway, George | (Makerfield) |
| Gapes, Mike | McDonagh, Siobhain |
| Gardiner, Barry | Macdonald, Calum |
| George, Bruce (Walsall S) | McDonnell, John |
| Gerrard, Neil | McGuire, Mrs Anne |
| Gibson, Dr Ian | McIsaac, Shona |
| Godman, Dr Norman A | McKenna, Mrs Rosemary |
| Godsiff, Roger | McNamara, Kevin |
| Goggins, Paul | McNulty, Tony |
| Golding, Mrs Llin | Mactaggart, Fiona |
| Gordon, Mrs Eileen | McWilliam, John |
| Griffiths, Jane (Reading E) | Mahon, Mrs Alice |
| Griffiths, Nigel (Edinburgh S) | Marsden, Gordon (Blackpool S) |
| Grocott, Bruce | Marsden, Paul (Shrewsbury) |
| Grogan, John | Martlew, Eric |
| Gunnell, John | Maxton, John |
| Hain, Peter | Meacher, Rt Hon Michael |
| Hall, Patrick (Bedford) | Michael, Rt Hon Alun |
| Hamilton, Fabian (Leeds NE) | Michie, Bill (Shef'ld Heeley) |
| Hanson, David | Miller, Andrew |
| Harman, Rt Hon Ms Harriet | Moffatt, Laura |
| Heal, Mrs Sylvia | Moonie, Dr Lewis |
| Healey, John | Moran, Ms Margaret |
| Heath, David (Somerton & Frome) | Morley, Elliot |
| Henderson, Ivan (Harwich) | Morris, Rt Hon Ms Estelle |
| Heppell, John | (B'ham Yardley) |
| Hinchliffe, David | Morris, Rt Hon Sir John(Aberavon) |
| Hodge, Ms Margaret | |
| Hoey, Kate | Mountford, Kali |
| Hoon, Rt Hon Geoffrey | Mowlam, Rt Hon Marjorie |
| Hope, Phil | Mudie, George |
| Hopkins, Kelvin | Mullin, Chris |
| Howarth, George (Knowsley N) | Murphy, Jim (Eastwood) |
| Howells, Dr Kim | Murphy, Rt Hon Paul (Torfaen) |
| Hughes, Ms Beverley (Stretford) | Naysmith, Dr Doug |
| Hughes, Kevin (Doncaster N) | Oaten, Mark |
| Humble, Mrs Joan | O'Brien, Mike (N Warks) |
| Hurst, Alan | Olner, Bill |
| Hutton, John | Öpik, Lembit |
| Iddon, Dr Brian | Organ, Mrs Diana |
| Illsley, Eric | Palmer, Dr Nick |
| Ingram, Rt Hon Adam | Pearson, Ian |
| Jackson, Ms Glenda (Hampstead) | Pendry, Tom |
| Jackson, Helen (Hillsborough) | Perham, Ms Linda |
| Jamieson, David | Pickthall, Colin |
| Jenkins, Brian | Pike, Peter L |
| Johnson, Alan (Hull W & Hessle) | Plaskitt, James |
| Johnson, Miss Melanie | Pollard, Kerry |
| (Welwyn Hatfield) | Pond, Chris |
| Jones, Rt Hon Barry (Alyn) | Pound, Stephen |
| Jones, Jon Owen (Cardiff C) | Prentice, Ms Bridget (Lewisham E) |
| Jones, Dr Lynne (Selly Oak) | Prentice, Gordon (Pendle) |
| Jones, Martyn (Clwyd S) | Prescott, Rt Hon John |
| Keeble, Ms Sally | Purchase, Ken |
| Keen, Alan (Feltham & Heston) | Quin, Rt Hon Ms Joyce |
| Keen, Ann (Brentford & Isleworth) | Quinn, Lawrie |
| Keetch, Paul | Reed, Andrew (Loughborough) |
| Kemp, Fraser | Reid, Rt Hon Dr John (Hamilton N) |
| Khabra, Piara S | Rendel, David |
| Kidney, David | Roche, Mrs Barbara |
| Kilfoyle, Peter | Rooker, Rt Hon Jeff |
| King, Andy (Rugby & Kenilworth) | Rooney, Terry |
| King, Ms Oona (Bethnal Green) | Ross, Ernie (Dundee W) |
| Kirkwood, Archy | Rowlands, Ted |
| Lawrences, Mrs Jackie | Roy, Frank |
| Laxton, Bob | Ruddock, Joan |
| Lepper, David | Russell, Bob (Colchester) |
| Leslie, Christopher | Russell, Ms Christine (Chester) |
| Levitt, Tom | Ryan, Ms Joan |
| Lewis, Ivan (Bury S) | Salter, Martin |
| Linton, Martin | Sanders, Adrian |
| Llwyd, Elfyn | Sarwar, Mohammad |
| Savidge, Malcolm | Todd, Mark |
| Sawford, Phil | Touhig, Don |
| Sedgemore, Brian | Trickett, Jon |
| Shaw, Jonathan | Turner, Dennis (Wolverh'ton SE) |
| Simpson, Alan (Nottingham S) | Turner, Dr Desmond (Kemptown) |
| Singh, Marsha | Turner, Dr George (NW Norfolk) |
| Skinner, Dennis | Turner, Neil (Wigan) |
| Smith, Rt Hon Andrew (Oxford E) | Twigg, Derek (Halton) |
| Smith, Angela (Basildon) | Twigg, Stephen (Enfield) |
| Smith, John (Glamorgan) | Tyler, Paul |
| Smith, Llew (Blaenau Gwent) | Tynan, Bill |
| Smith, Sir Robert (W Ab'd'ns) | Walley, Ms Joan |
| Soley, Clive | Ward Ms Claire |
| Southworth, Ms Helen | Wareing, Robert N |
| Spellar, John | White, Brian |
| Squire, Ms Rachel | Whitehead, Dr Alan |
| Steinberg, Gerry | Wicks, Malcolm |
| Stewart, Ian (Eccles) | Wllliams, Rt Hon Alan |
| Stoate, Dr Howard | (Swansea) |
| Strang, Rt Hon Dr Gavin | Williams, Alan W (E Carmarthen) |
| Stringer, Graham | Williams, Mrs Betty (Conwy) |
| Stunell, Andrew | Wills, Phil |
| Sutcliffe, Gerry | Wills, Michael |
| Swmney, John | Winnick, David |
| Taylor, Rt Hon Mrs Ann | Winterton, Ms Rosie (Doncaster C) |
| (Dewsbury) | Wood, Mike |
| Taylor, Ms Dari (Stockton S) | Woodward, Shaun |
| Taylor, David (NW Leics) | Woolas, Phil |
| Temple-Morris, Peter | Worthington, Tony |
| Thomas, Gareth R (Harrow W) | Wright, Anthony D (Gt Yarmouth) |
| Thomas, Simon (Ceredigion) | Tellers for the Noes: |
| Timms, Stephen | Mr. Greg Pope and |
| Tipping, Paddy | Mr. Mike Hall. |
§ Question accordingly negatived.
§ Lords amendment agreed to.
§ Lords amendments Nos. 132 to 179 agreed to.