Clause 60

in subsection (1), replace paragraph (b) with —“(b)any person who has effective control of the holder of a capital markets services licence,”;

in subsection (1)(c), after “section 97A(4)”, insert “(including a condition that has been added to or varied under section 97A(4A))”;

in subsection (2), replace paragraph (c) with —“(c)a section 101A prohibition order or an FSMA prohibition order has been made, and remains in force, against the person;”;

in subsection (3), replace paragraph (a) with —“(a)take such steps as are necessary to ensure that the person ceases to have effective control of the holder of a capital markets services licence; or”; and

in subsection (3)(b), replace “written directions” with “the written notice of objection”.