Page 477 - IOM Law Society Rules Book

180 Financial Services Act 2008 c.8

SCH. 6 “(b) a deposit taking or insurance company, or

(c) a permitted person authorised to undertake investment
business or to provide services to collective investment
schemes under the Financial Services Act 2008.”.

16. For section 14(13), substitute —

“(13) Section 32 of the Financial Services Act 2008 (appeals to
the Financial Services Tribunal) shall apply in respect of the decision
of the Commission under subsection (12) as it applies in respect of a
decision referred to in subsection (1)(b), (e) or (f) of that section.”.

Building Societies Act 1986 (c.7)

17. In section 2 —

(a) in subsections (4) to (8), for “subsection (1)”, wherever occurring,
substitute “section 7 of the Financial Services Act 2008”;

(b) at the end add —

“(9) Any reference in this section to authorisation is to be
construed as a reference to authorisation by virtue of a licence under
section 7 of the Financial Services Act 2008.”.

Legal Aid Act 1986 (c.23)
18. After paragraph 5B of Part I of Schedule 1 insert —

“5C. Proceedings before the Financial Services Tribunal on an appeal
under section 32 of the Financial Services Act 2008, which shall be
proceedings in a court for the purposes of this Act.”.

Insurance Act 1986 (c.24)

19. In section 24(1) —

(a) in paragraphs (h) and (i), for “section 21B of the Financial Supervision
Act 1988” substitute “Schedule 5 to the Financial Services Act 2008”;

(b) in paragraph (m), for “section 21 of the Financial Supervision Act
1988” substitute “section 25 of the Financial Services Act 2008”.

20. In section 28D, for “as defined in the Banking Act 1975” substitute “under
the Financial Services Act 2008”.

Financial Supervision Act 1988 (c.16)

21. For section 1(2)(c) and (d) substitute —