Amendments made: 176, page 101, line 11, after “to” insert “standards,”.

This amendment makes clear that regulations under Part 3 may make provision by reference to published standards.

Amendment 177, page 101, line 14, at end insert

“, and make provision in connection with the procedure for exercising the functions;”.

This amendment makes clear that regulations under Part 3 may make provision about the procedure for exercising functions conferred by the regulations.

Amendment 178, page 101, line 16, at end insert—

“(1A) Regulations under this Part may not require or enable a person to make rules imposing requirements on a person, except as provided by sections (The FCA and financial services interfaces) to (The FCA and financial services interfaces: penalties and levies).”

This amendment makes clear that, subject to certain exceptions, regulations under Part 3 may not confer powers to make rules.

Amendment 179, page 101, line 16, at end insert—

“(1B) Regulations under this Part may not require or enable a person to set the maximum amount of a fine, except that such regulations may make provision about the maximum amount referring to the standard scale, the statutory maximum or a similar amount.

(1C) Regulations under this Part may not require or enable a person to set the amount or maximum amount of, or of an increase in, a penalty or fee or to set the method for determining such an amount, except as provided by subsection (1D) and sections (The FCA and financial services interfaces: supplementary) and (The FCA and financial services interfaces: penalties and levies).

(1D) Regulations under this Part—

(a) may make provision about the amount or method described in subsection (1C) referring to a published index, and

(b) may require or enable a person to make decisions, in accordance with a maximum amount or method set out in the regulations, about the amount of, or of an increase or reduction in, a penalty or fee payable in a particular case.”

This amendment makes clear that, subject to certain exceptions, amounts of fines, penalties and fees must be set out on the face of regulations under Part 3.

Amendment 180, page 101, line 18, leave out “or repeal” and insert “, repeal or revoke”.

This amendment and Amendment 185 are technical amendments. They make the power under clause 78(2) to make regulations modifying primary legislation consistent with the power under clause 114.

Amendment 181, page 101, line 27, leave out “and (2)” and insert “, (2) and (2A)”.

This amendment provides that the first regulations under new subsection (2A) of clause 68 making provision about a particular description of business data are subject to the affirmative resolution procedure. New subsection (2A) is inserted by amendment 116.

Amendment 182, page 101, line 30, at end insert “or interface bodies”.

This amendment provides that regulations under clause 66 or 68 which make requirements more onerous for interface bodies (see new clause NC27) are subject to the affirmative resolution procedure.

Amendment 183, page 101, line 31, after “70(4),” insert “(Interface bodies),”.

This amendment provides that regulations conferring monitoring powers on interface bodies (see new clause NC27) are subject to the affirmative resolution procedure.

Amendment 184, page 101, line 31, leave out “or 75” and insert

“, 75, (The FCA and financial services interfaces), (The FCA and financial services interfaces: penalties and levies) or (Liability in damages)”.

This amendment provides that regulations made under new clauses NC28, NC31 and NC31 are subject to the affirmative resolution procedure.

Amendment 185, page 101, line 32, leave out “or repeal” and insert “, repeal or revoke”.

See the explanatory statement for Amendment 180.

Amendment 186, page 101, line 38, at end insert

“or representatives of such persons”.

Clause 78(5) requires the Secretary of State and the Treasury, where they consider it appropriate, to consult certain persons before making regulations under Part 3 that are subject to the affirmative procedure. This amendment adds representatives of persons likely to be affected by the regulations to the list of persons to be consulted.

Amendment 187, page 102, line 4, leave out paragraph (e).—(Sir John Whittingdale.)

This amendment and Amendment 199 remove retained direct principal EU legislation from definitions of “primary legislation” in provisions about regulation-making powers, reflecting changes to the status of retained direct EU legislation made by the Retained EU Law (Revocation and Reform) Act 2023 (see section 9 and paragraph 13 of Schedule 3).