Financial Services and Markets Bill – in the House of Commons at 5:45 pm on 7 December 2022.
‘(1) FSMA 2000 is amended as follows.
(2) In section 261E (authorised contractual schemes: holding of units)—
(a) before subsection (1) insert—
“(A1) This section sets out requirements for the purposes of section 261D(1)(a) (authorisation orders).”;
(b) in subsection (1) for “a contractual” substitute “the”.
(3) After section 261Z5 insert—
A parliamentary bill is divided into sections called clauses.
Printed in the margin next to each clause is a brief explanatory `side-note' giving details of what the effect of the clause will be.
During the committee stage of a bill, MPs examine these clauses in detail and may introduce new clauses of their own or table amendments to the existing clauses.
When a bill becomes an Act of Parliament, clauses become known as sections.
