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Supplementary

Volume 98: debated on Wednesday 4 June 1986

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Power to prescribe bands for Part II particulars

10. — (1) The Commission, with the consent of the Treasury, may by order prescribe, for the purposes of the provisions of Part II of this Schedule, —

  • (a) series of numbers by reference to limits specified in the order, or
  • (b) series of monetary amounts by reference to limits so specified;
  • and, in any provision of Part II, "prescribed band" means, in realtion to cases, any series of numbers so prescribed for the purposes of that provision and, in relation to monetary amounts, any series of monetary amounts so prescribed for the purposes of that provision.

    (2) The power conferred by this paragraph includes power—

  • (a) to prescribe different series of numbers or of monetary amounts for the purposes of different provisions, and
  • (b) to prescribe series of numbers or of monetary amounts such that the same number or amount is included in more than one series.
  • (3) The power to make an order under this paragraph is exerciseable by statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliament.

    Interpretation

    11. —(1) In this Schedule—

    "administrative services" means services falling within section 63(5);
    "business associate" and "associated", in relation to a building society, have the same meaning as in section 63;
    "financial year" means a financial year of the society with which the business associate is associated;
    "prescribed band" has the meaning given by paragraph 10(1) above; and
    "relevant insurance" means insurance falling within section 63(4)(d).

    (2) In section 63 "the volume of the business", in relation to any business constituted by the provision of any services referred to in any provision of Part I or Part II of this Schedule means—

  • (a) in the case of a paragraph of Part I, the aggregate of all the fees and commissions which are the subject of the requisite particulars under that paragraph; and
  • (b) in the case of a paragraph of Part II, the aggregate of the amounts which are specified in orders under paragraph 10 above as the upper limits of the prescribed bands within which fall the estimated aggregates of the fees or commissions which are the subject of the requisite particulars under the provisions of that paragraph:. —[Mr. Ian Stewart.]