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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 April 2014 - onwards
Version 3 of 3

Article 8 Application of provisions of the 1974 Act in relation to failure to comply with FSMA 2000

(1) The following provisions of the 1974 Act apply in relation to the commission or suspected commission of a relevant offence with the modifications specified.

(2) Section 162 (powers of entry and inspection) [Amended by the Enterprise Act 2002, Schedule 25, paragraph 6(1) and (33), and the Consumer Credit Act 2006, section 51 and Schedule 4.] applies as if a reference to "a breach of any provision of or under this Act" included a reference to a relevant offence ["Relevant offence" is defined in the Financial Services Act 2012, section 107.].

(3) Section 163 (compensation for loss) applies in connection with the powers of a duly appointed officer of an enforcement authority as if the reference to "an offence under this Act" in subsection (1) included a reference to a relevant offence.

(4) Section 164 (power to make test purchases etc.) applies as if -

(a) in subsection (1), the reference to "determining whether any provisions made by or under this Act are being complied with" included a reference to determining whether a relevant offence is being committed;

(b) in subsection (4), the reference to "proceedings under this Act" included a reference to proceedings for a relevant offence.