Amendment 16

Part of Financial Services Bill - Report (2nd Day) – in the House of Lords at 4:06 pm on 14th April 2021.

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Baroness Meacher:

Moved by Baroness Meacher

16: After Clause 40, insert the following new Clause—“Regulation of bailiffs and bailiff firms for the purpose of taking control of goodsIn section 22 of the Financial Services and Markets Act 2000 (regulated activities), after subsection (1B) insert—“(1C) An activity is a regulated activity for the purposes of this Act if it is an activity described by Part 3 of the Tribunal, Courts and Enforcement Act 2007 (enforcement by taking control of goods) performed as a service by way of business specified in an order that may include provisions in respect of—(a) defining the people, organisations and activities under Part 3 of the Tribunal, Courts and Enforcement Act 2007 which may or may not be regulated under this section;(b) delegating some or all of the functions of the FCA in respect of this regulated activity to another person or body, either existing or established by an order under this section;(c) setting out which parts of this Act may or may not apply in respect of activities regulated by this section;(d) making such supplemental provisions as necessary to carry out the functions of the regulator.(1D) If an order under subsection (1C) has not commenced within 2 years of the passing of the Financial Services Act 2021, an activity of the type described in subsection (1C) is to be a regulated activity notwithstanding the lack of an order under subsection (1C).””