Financial Services Act 2012: An Overview of Amendments and Regulatory Changes, Lecture notes of Business

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Financial Services Act 2012 CHAPTER 21 FINANCIAL SERVICES ACT 2012 PART 1 BANK OF ENGLAND 1 Deputy Governors 2 The Bank's financial stability objective 3 Oversight Committee 4 Financial stability strategy and Financial Policy Committee 5 Further amendments relating to Bank of England PART 2 AMENDMENTS OF FINANCIAL SERVICES AND MARKETS ACT 2000 Financial Conduct Authority and Prudential Regulation Authority 6 The new Regulators Regulated activities 7 Extension of scope of regulation 8 Orders under section 22 of FSMA 2000 9 Designation of activities requiring prudential regulation by PRA Appointed representatives 10 Appointed representatives Permission to carry on regulated activities 11 Permission to carry on regulated activities ii Financial Services Act 2012 (c. 21) Document Generated: 2022-05-18 Status: This is the original version (as it was originally enacted). Passporting 12 Passporting: exercise of EEA rights and Treaty rights Performance of regulated activities 13 Prohibition orders 14 Approval for particular arrangements 15 Further amendments relating to performance of regulated activities Official listing 16 FCA to exercise functions under Part 6 of FSMA 2000 17 Discontinuance or suspension at the request of the issuer: procedure 18 Listing rules: disciplinary powers in relation to sponsors 19 Primary information providers 20 Penalties for breach of Part 6 rules 21 Repeal of competition scrutiny power Control of business transfers 22 Control of business transfers Hearings and appeals 23 Proceedings before Tribunal Rules and guidance 24 Rules and guidance Short selling 25 Functions relating to short selling Control over authorised persons 26 Control over authorised persons 27 Powers of regulators in relation to parent undertakings Recognised investment exchanges and clearing houses 28 Exemption for recognised investment exchanges and clearing houses 29 Powers in relation to recognised investment exchanges and clearing houses 30 Recognition requirements: power of FCA and Bank to make rules 31 Additional power to direct UK clearing houses 32 Recognised bodies: procedure for giving directions under s.296 etc 33 Power to take disciplinary measures against recognised bodies 34 Repeal of special competition regime 35 Sections 28 to 34: minor and consequential amendments Suspension and removal of financial instruments from trading 36 Suspension and removal of financial instruments from trading Financial Services Act 2012 (c. 21) Document Generated: 2022-05-18 v Status: This is the original version (as it was originally enacted). PART 7 OFFENCES RELATING TO FINANCIAL SERVICES 89 Misleading statements 90 Misleading impressions 91 Misleading statements etc in relation to benchmarks 92 Penalties 93 Interpretation of Part 7 94 Affirmative procedure for certain orders 95 Consequential repeal PART 8 AMENDMENTS OF BANKING ACT 2009 Special resolution regime and bank administration 96 Objectives and conditions 97 Private sector purchasers 98 Property transfer instruments: property held on trust 99 Reports following exercise of a stabilisation power 100 Groups 101 Application to investment firms 102 Application to UK clearing houses 103 State aid Inter-bank payment systems 104 Inter-bank payment systems 105 International obligations Further amendments 106 Amendments relating to new regulators PART 9 MISCELLANEOUS Consumer credit 107 Power to make further provision about regulation of consumer credit 108 Suspension of licences under Part 3 of Consumer Credit Act 1974 Penalties received by Financial Services Authority or Bank of England 109 Payment to Treasury of penalties received by Financial Services Authority 110 Payment to Treasury of penalties received by Bank of England Amendments of Companies Act 1989 111 Amendments of Companies Act 1989 Settlement systems 112 Evidencing and transfer of title to securities without written instrument vi Financial Services Act 2012 (c. 21) Document Generated: 2022-05-18 Status: This is the original version (as it was originally enacted). Director of Savings 113 Provision of services by Director of Savings PART 10 GENERAL Further amendments and repeals 114 Further minor and consequential amendments and repeals Orders 115 Orders: general 116 Orders: Parliamentary control Interpretation 117 Interpretation Consequential and transitional provisions 118 Power to make further consequential amendments etc 119 Transitional provisions and savings Final provisions 120 Financial provision 121 Extent 122 Commencement 123 Short title SCHEDULES SCHEDULE 1 — Bank of England Financial Policy Committee PART 1 — SCHEDULE TO BE INSERTED AS SCHEDULE 2A TO BANK OF ENGLAND ACT 1998 PART 2 — OTHER AMENDMENTS RELATING TO FINANCIAL POLICY COMMITTEE 1 Bank of England Act 1998 (c. 11) 2 In section 15 of the Bank of England Act 1998... 3 In section 40 of the Bank of England Act 1998... 4 House of Commons Disqualification Act 1975 (c. 24) 5 Northern Ireland Assembly Disqualification Act 1975 (c. 25) SCHEDULE 2 — Further amendments relating to Bank of England 1 Court of directors 2 Monetary Policy Committee 3 Immunity 4 Changes in terminology 5 In Schedule 7 to the Bank of England Act 1998... 6 In Part 3 of Schedule 1 to the House of... 7 In Part 3 of Schedule 1 to the Northern Ireland... Financial Services Act 2012 (c. 21) Document Generated: 2022-05-18 vii Status: This is the original version (as it was originally enacted). SCHEDULE 3 — Financial Conduct Authority and Prudential Regulation Authority: Schedules to be substituted as Schedules 1ZA and 1ZB to FSMA 2000 SCHEDULE 4 — EEA passport rights and treaty rights PART 1 — AMENDMENTS OF SCHEDULE 3 TO FSMA 2000: EEA PASSPORT RIGHTS 1 Introductory 2 Exercise of passport rights by EEA firms 3 (1) Paragraph 14 (services) is amended as follows. 4 (1) Paragraph 15A (application for approval to manage UCITS) is... 5 (1) Paragraph 15B (representations and references to the Tribunal) is... 6 In paragraph 15C (information to home state regulator), in sub- paragraph... 7 In paragraph 17 (continuing regulation of EEA firms)— 8 In paragraph 18 (giving up right to authorisation), in paragraph... 9 Exercise of passport rights by UK firms 10 (1) Paragraph 19 (establishment) is amended as follows. 11 (1) Paragraph 20 (services) is amended as follows. 12 In paragraph 20ZA (information for host state regulator), for “Authority”,... 13 In paragraph 20B (notice of intention to market), for “Authority”,... 14 In paragraph 22 (continuing regulation of UK firms), in sub-paragraph... 15 (1) Paragraph 23 (power to impose requirements) is amended as... 16 (1) Paragraph 24 (which relates to UK firms exercising rights... 17 After paragraph 24 insert— Arrangements between FCA and PRA (1) The regulators may make arrangements about— 18 In paragraph 25 (information to be included in the public... 19 In paragraph 26 (UK management companies: delegation of functions), for... 20 In paragraph 27 (UK management companies: withdrawal of authorisation), for... 21 In paragraph 28 (management companies: request for information), for “Authority”,... PART 2 — AMENDMENTS OF SCHEDULE 4 TO FSMA 2000: TREATY RIGHTS 22 Schedule 4 to FSMA 2000 (Treaty rights) is amended as... 23 (1) Paragraph 3 (exercise of Treaty rights) is amended as... 24 After paragraph 3 insert— Notification between UK regulators Regulations may require the PRA and the FCA to notify... 25 (1) Paragraph 4 (permission) is amended as follows. 26 (1) Paragraph 5 (notice to Authority) is amended as follows.... PART 3 — AMENDMENTS OF SECTIONS 34 AND 35 OF FSMA 2000: EEA FIRMS AND TREATY FIRMS 27 (1) Section 34 of FSMA 2000 (EEA firms) is amended... 28 (1) Section 35 of FSMA 2000 (Treaty firms) is amended... PART 4 — AMENDMENTS OF PART 13 OF FSMA 2000: POWERS OF INTERVENTION 29 Part 13 of FSMA 2000 (incoming firms: intervention by Authority)... 30 In the heading to Part 13, for “Authority” substitute “FCA... 31 In section 193 (interpretation of Part 13), in subsection (1),... 32 (1) Section 194 (general grounds on which power of intervention... 33 (1) Section 194A (contravention by relevant EEA firm with UK... 34 (1) Section 195 (exercise of power in support of overseas... x Financial Services Act 2012 (c. 21) Document Generated: 2022-05-18 Status: This is the original version (as it was originally enacted). 35 In section 312C (exercise of passport rights by recognised investment... 36 (1) Section 313 (interpretation) is amended as follows. 37 In section 392 (warning and decisions notices: application of provisions... 38 In section 412A (approval and monitoring of trade-matching and reporting... 39 In section 412B (procedure for approval and suspension or withdrawal... SCHEDULE 9 — Discipline and enforcement PART 1 — INTRODUCTORY 1 FSMA 2000 is amended as follows. PART 2 — AUTHORISED PERSONS ACTING WITHOUT PERMISSION 2 (1) Section 20 (authorised persons acting without permission) is amended... 3 (1) Section 23 (contravention of the general prohibition) is amended... 4 After section 23 insert— Parliamentary control in relation to certain... 5 After section 26 insert— Agreements relating to credit (1) An agreement that is made by an authorised person... 6 In section 27 (agreements made through unauthorised persons) for subsection... 7 In section 28 (agreements made unenforceable by section 26 or... 8 After section 28 insert— Credit-related agreements made unenforceable by section... PART 3 — MARKET ABUSE 9 (1) In the provisions of Part 8 (market abuse) mentioned... PART 4 — DISCIPLINARY MEASURES 10 In Part 14 (disciplinary measures), before section 205 insert— Meaning... 11 In section 205 (public censure)— (a) for “Authority”, in the... 12 (1) Section 206 (financial penalties) is amended as follows. 13 (1) Section 206A (suspending permission to carry on regulated activities... 14 In section 207(1) (proposal to take disciplinary measures), for “the... 15 In section 208(1) and (4) (decision notice), for “the Authority”,... 16 In section 209 (publication), for “the Authority” substitute “the regulator... 17 (1) Section 210 (statements of policy) is amended as follows.... 18 (1) Section 211 (statements of policy: procedure) is amended as... PART 5 — INJUNCTIONS AND RESTITUTION 19 (1) Section 380 (injunctions) is amended as follows. 20 (1) Section 381 (injunctions in case of market abuse) is... 21 (1) Section 382 (restitution orders) is amended as follows. 22 In section 383(1), (4), (5) and (9) (restitution orders in... 23 (1) Section 384 (power of Authority to require restitution) is... 24 (1) Section 385 (warning notices) is amended as follows. 25 In section 386(1) and (3) (decision notices), for “Authority” substitute... PART 6 — NOTICE PROCEDURES 26 (1) Section 387 (warning notices) is amended as follows. 27 (1) Section 388 (decision notices) is amended as follows. 28 In section 389(1) (notices of discontinuance)— (a) for “the Authority”... 29 (1) Section 390 (final notices) is amended as follows. 30 (1) Section 391 (publication) is amended as follows. 31 (1) Section 392 (application of sections 393 and 394) is... Financial Services Act 2012 (c. 21) Document Generated: 2022-05-18 xi Status: This is the original version (as it was originally enacted). 32 (1) Section 393 (third party rights) is amended as follows.... 33 (1) Section 394 (access to Authority material) is amended as... 34 (1) Section 395 (the Authority's procedures) is amended as follows.... 35 (1) Section 396 (statements under s.395: consultation) is amended as... PART 7 — OFFENCES 36 (1) Section 398 (misleading the Authority: residual cases) is amended... 37 In section 400 (offences by a body corporate etc) after... 38 (1) Section 401 (proceedings for offences) is amended as follows.... 39 (1) Section 402 (power of the Authority to institute proceedings... 40 In section 403 (jurisdiction and procedure in respect of offences),... PART 8 — CO-OPERATION 41 After section 415A insert— Consultation Consultation in relation to taking... SCHEDULE 10 — The Financial Services Compensation Scheme 1 Part 15 of FSMA 2000 (the Financial Services Compensation Scheme)... 2 (1) Section 212 (the scheme manager) is amended as follows.... 3 (1) Section 213 (the compensation scheme) is amended as follows.... 4 In section 214 (general provisions of the scheme), in subsection... 5 In section 215 (rights of the scheme in insolvency), for... 6 In section 217 (insurers in financial difficulties), in subsection (5),... 7 After section 217 insert— Relationship with the regulators Co-operation (1) Each regulator and the scheme manager must take such... 8 For the italic heading before section 218 substitute “Annual plan... 9 Before section 218 insert— Annual plan (1) The scheme manager must in respect of each of... 10 (1) Section 218 (annual report) is amended as follows. 11 After section 218 insert— Audit of accounts (1) The scheme manager must send a copy of its... 12 (1) Section 218A (power to require information) is amended as... 13 In section 221 (powers of court), in subsection (2), after... 14 In section 222 (statutory immunity), in subsection (1), omit “board... 15 In section 224 (scheme manager's power to inspect documents), in... SCHEDULE 11 — The financial ombudsman service 1 In section 226 (compulsory jurisdiction), in subsection (3)(a), for “Authority”... 2 In section 226A (consumer credit jurisdiction), in subsection (7), for... 3 In section 227 (voluntary jurisdiction), in subsection (6), for “Authority's”... 4 (1) Section 228 (determination under the compulsory and consumer credit... 5 In section 229 (awards), in subsection (4), for “Authority” substitute... 6 In section 230 (costs), in subsection (2), for “Authority” substitute... 7 After section 230 insert— Reports of determinations (1) The scheme operator must publish a report of any... 8 In section 232 (powers of court), in subsection (2), after... 9 After section 232 insert— Scheme operator's duty to provide information... 10 In section 234 (industry funding), in subsection (1), for “Authority”... 11 In section 234A (funding by consumer credit licensees), in subsection... xii Financial Services Act 2012 (c. 21) Document Generated: 2022-05-18 Status: This is the original version (as it was originally enacted). 12 After section 234A insert— Successors to businesses Transfers of liability... 13 Schedule 17 (the ombudsman scheme) is amended as follows. 14 For paragraph 2 (and the italic heading before it) substitute—... 15 In paragraph 3 (constitution)— (a) for “Authority”, in each place,... 16 After paragraph 3 insert— Relationship with FCA (1) The scheme operator and the FCA must each take... 17 In paragraph 6 (status), in sub-paragraph (2), omit “board members,”.... 18 In paragraph 7 (annual reports)— (a) for “Authority”, in each... 19 After paragraph 7 insert— Audit of accounts (1) The scheme operator must send a copy of its... 20 For the italic heading before paragraph 8 substitute “Information, advice... 21 In paragraph 8 (guidance), for “guidance consisting of such information... 22 In paragraph 9 (budget), for “Authority”, in each place, substitute... 23 After paragraph 9 insert— Annual plan (1) The scheme operator must in respect of each of... 24 In paragraph 13 (procedural rules)— (a) for “Authority”, in each... 25 In paragraph 14 (scheme operator's rules)— (a) in sub-paragraph (2),... 26 In paragraph 16B (procedure for complaints etc), in sub-paragraph (1),... 27 In paragraph 16E (consumer credit rules), for “Authority”, in each... 28 In paragraph 18 (terms of reference), for “Authority”, in each... 29 In paragraph 19 (delegation), in sub-paragraph (3), for “Authority” substitute... 30 In paragraph 20 (voluntary jurisdiction rules: procedure), for “Authority”, in... SCHEDULE 12 — Amendments of Parts 11 and 23 of FSMA 2000 PART 1 — PART 11 OF FSMA 2000: INFORMATION GATHERING AND INVESTIGATIONS 1 (1) Section 165 (power to require information) is amended as... 2 In section 165A (power to require information relevant to financial... 3 In section 165B (safeguards relating to section 165A)— 4 In section 165C (orders under section 165A(2)(d)) for subsection (1)... 5 For section 166 (reports by skilled persons) substitute— Reports by... 6 After section 166 insert— Appointment of skilled person to collect... 7 (1) Section 167 (appointment of investigator in general cases) is... 8 (1) Section 168 (appointment of investigator in specific cases) is... 9 (1) Section 169 (investigations at the request of an overseas... 10 In section 169A (supporting an overseas regulator regarding financial stability),... 11 In section 170 (investigations: general), in subsection (10), for paragraphs... 12 In section 174 (admissibility of statements to investigators), in subsection... 13 (1) Section 175 (information and documents: supplemental) is amended as... 14 (1) Section 176 (entry of premises under warrant) is amended... 15 After section 176 insert— Retention of documents taken under section... PART 2 — PART 23 OF FSMA 2000: PUBLIC RECORD, DISCLOSURE OF INFORMATION AND CO-OPERATION 16 (1) Section 347 (record of authorised persons) is amended as... Financial Services Act 2012 (c. 21) Document Generated: 2022-05-18 xv Status: This is the original version (as it was originally enacted). 20 In section 41 (procedure), in subsection (1), for paragraph (c)... 21 In section 42 (supplemental instruments), in subsection (5), for paragraph... 22 In section 43 (onward transfer), in subsection (7), for paragraph... 23 In section 44 (reverse property transfer), in subsection (6), for... 24 In section 45 (temporary public ownership: property transfer), in subsection... 25 In section 46 (temporary public ownership: reverse property transfer), in... 26 In section 57 (valuation principles), in subsection (4)(a), for “Part... 27 (1) Section 82 (temporary public ownership) is amended as follows.... 28 After section 83 insert— Banks not regulated by PRA Modifications... PART 2 — AMENDMENTS OF PART 2 OF THE ACT 29 Part 2 of the Banking Act 2009 is amended as... 30 In section 91 (interpretation: “bank”), for “Part 4” substitute “Part... 31 In section 93 (interpretation: other expressions), for subsection (1) substitute—... 32 In section 95 (application), in subsection (1)(b), for “FSA” substitute... 33 In section 96 (grounds for applying), for “FSA”, in each... 34 In section 97 (grounds for making), in subsection (1), for... 35 In section 98 (commencement), in subsection (2), for “FSA”, in... 36 (1) Section 100 (liquidation committee) is amended as follows. 37 In section 101 (liquidation committee: supplemental), in subsection (7), for... 38 In section 103 (general powers, duties and effect), in the... 39 (1) Section 108 (removal by court) is amended as follows.... 40 In section 109 (removal by creditors), in subsection (4) for... 41 In section 113 (company voluntary arrangement), in subsection (2)(b), for... 42 In section 115 (dissolution), in subsection (2)(b), for sub-paragraph (i)... 43 In section 117 (bank insolvency as alternative order), in subsection... 44 (1) Section 120 (notice of preliminary steps) is amended as... 45 After section 129 insert— Banks not regulated by PRA (1) In the application of this Part to an FCA-regulated... PART 3 — AMENDMENTS OF PART 3 TO THE ACT 46 Part 3 of the Banking Act 2009 is amended as... 47 In section 147 (administrator's proposals), in subsection (6), for “FSA”... 48 In section 153 (successful rescue), in subsection (3), for “FSA”... 49 In section 157 (other processes), in subsection (1), for “Before... 50 After section 157 insert— Banks not regulated by PRA (1) In the application of this Part to an FCA-regulated... 51 In section 166 (interpretation: general), for subsection (2) substitute— PART 4 — AMENDMENTS OF PARTS 4 TO 6 OF THE ACT 52 Parts 4 to 6 of the Banking Act 2009 are... 53 (1) Section 183 (interpretation of Part 5) is amended as... 54 In section 223 (termination of right to issue), in subsections... 55 (1) Section 232 (definition) is amended as follows. 56 In section 234 (regulations: details), for subsection (8)(b) substitute— 57 In section 235 (regulations: procedure), at the end insert— 58 In section 246 (information), in subsection (2)— 59 (1) Section 249 (functions) is amended as follows. xvi Financial Services Act 2012 (c. 21) Document Generated: 2022-05-18 Status: This is the original version (as it was originally enacted). 60 In section 250 (information), for “Financial Services Authority” substitute “Prudential... 61 (1) Section 259 (statutory instruments) is amended as follows. 62 In the Table in section 261 (index of defined terms)—... SCHEDULE 18 — Further minor and consequential amendments PART 1 — AMENDMENTS OF FSMA 2000 1 FSMA 2000 is amended as follows. 2 (1) Section 33 (withdrawal of authorisation) is amended as follows.... 3 (1) Section 36 (persons authorised as a result of being... 4 In section 38 (exemption orders), in subsection (2), for “Part... 5 (1) Section 39 (exemption of appointed representatives) is amended as... 6 In section 39A (tied agents operating outside the United Kingdom),... 7 In section 97(1)(d) (contravention of Part 6 rules: appointment of... 8 In section 177 (offences), in subsection (2), after “director or”... 9 (1) In each of the provisions of Part 17 (collective... 10 (1) Section 249 (disqualification of auditor for breach of trust... 11 (1) Section 250 (modification or waiver of rules) is amended... 12 In section 257 (directions), in subsection (5), for “section 150”... 13 In section 267 (power to suspend promotion of scheme)— 14 In section 268 (section 267: procedure)— (a) in subsection (2),... 15 In section 269 (procedure: application for variation or revocation of... 16 In section 270 (schemes authorised in designated countries or territories) —... 17 In section 284 (power to investigate), in subsection (11), for... 18 In section 404 (consumer redress scheme), for “Authority”, in each... 19 In section 404A (supplementary provision relating to rules under section... 20 (1) Section 404F (definitions etc.) is amended as follows. 21 (1) Section 405 (directions) is amended as follows. 22 (1) Section 407 (consequences of a direction under section 405)... 23 In section 409 (Gibraltar), in subsection (2), for “Part IV... 24 In section 415 (jurisdiction in civil proceedings), in subsection (1),... 25 (1) Section 415A (interpretation of powers under the Act) is... 26 In paragraph 8 of Schedule 6 (additional threshold conditions), in... PART 2 — AMENDMENTS OF OTHER ACTS OF PARLIAMENT 27 Bankers' Books Evidence Act 1879 (c. 11) 28 Agricultural Credits Act 1928 (c. 43) 29 Agricultural Credits (Scotland) Act 1929 (19 & 20 Geo. 5 c. 13) 30 Fire Services Act 1947 (c. 41) 31 Reserve and Auxiliary Forces (Protection of Civil Interests) Act 1951 (c. 65) 32 Theft Act 1968 (c. 60) 33 Decimal Currency Act 1969 (c. 19) 34 Employers' Liability (Compulsory Insurance) Act 1969 (c. 57) 35 Superannuation Act 1972 (c. 11) 36 Employment Agencies Act 1973 (c. 35) 37 Consumer Credit Act 1974 (c. 39) 38 Solicitors Act 1974 (c. 47) 39 House of Commons Disqualification Act 1975 (c. 24) 40 Northern Ireland Assembly Disqualification Act 1975 (c. 25) 41 Police Pensions Act 1976 (c. 35) 42 Judicial Pensions Act 1981 (c. 20) Financial Services Act 2012 (c. 21) Document Generated: 2022-05-18 xvii Status: This is the original version (as it was originally enacted). 43 Lloyd's Act 1982 (c. xiv) 44 Inheritance Tax Act 1984 (c. 51) 45 Companies Act 1985 (c. 6) 46 In Schedule 15C (specified persons), for paragraph 7 substitute— The Financial Conduct Authority. The Prudential Regulation Authority. The Bank of England. 47 (1) Schedule 15D (disclosures) is amended as follows. 48 Trustee Savings Banks Act 1985 (c. 58) 49 Administration of Justice Act 1985 (c. 61) 50 Housing Act 1985 (c. 68) 51 Insolvency Act 1986 (c. 45) 52 (1) Section 4A (approval of proposed voluntary arrangement) is amended... 53 In section 422 (order relating to formerly authorised banks), in... 54 (1) Paragraph 44 of Schedule A1 (moratorium where directors propose... 55 (1) Schedule B1 (administration) is amended as follows. 56 Debtors (Scotland) Act 1987 (c. 18) 57 Housing (Scotland) Act 1987 (c. 26) 58 Income and Corporation Taxes Act 1988 (c. 1) 59 Access to Medical Reports Act 1988 (c. 28) 60 Road Traffic Act 1988 (c. 52) 61 Water Act 1989 (c. 15) 62 Companies Act 1989 (c. 40) 63 (1) Section 82 (request for assistance by overseas regulatory authority)... 64 (1) Section 87 (exceptions from restrictions on disclosure) is amended... 65 (1) Section 157 (change in default rules) is amended as... 66 (1) Section 162 (duty to report on completion of default... 67 (1) Section 167 (application to determine whether default proceedings to... 68 (1) Section 169 (supplementary provisions) is amended as follows. 69 (1) Section 176 (power to make provision about certain charges)... 70 (1) Section 190 (minor definitions) is amended as follows. 71 (1) Section 191 (index of defined expressions) is amended as... 72 Water Industry Act 1991 (c. 56) 73 Water Resources Act 1991 (c. 57) 74 Social Security Administration Act 1992 (c. 5) 75 Judicial Pensions and Retirement Act 1993 (c. 8) 76 Criminal Justice Act 1993 (c. 36) 77 Railways Act 1993 (c. 43) 78 Pension Schemes Act 1993 (c. 48) 79 Finance Act 1994 (c. 9) 80 Coal Industry Act 1994 (c. 21) 81 Value Added Tax Act 1994 (c. 23) 82 Pensions Act 1995 (c. 26) 83 Finance Act 1997 (c. 16) 84 Social Security (Recovery of Benefits) Act 1997 (c. 27) 85 Bank of England Act 1998 (c. 11) 86 Data Protection Act 1998 (c. 29) 87 Terrorism Act 2000 (c. 11) 88 Regulation of Investigatory Powers Act 2000 (c. 23) 89 Utilities Act 2000 (c. 27) 90 Trustee Act 2000 (c. 29)