Moved by
Lord Naseby
15: Before Clause 18, insert the following new Clause—
“Diversity
(1) Section 3B of the Financial Services and Markets Act 2000 (regulatory principles to be applied by both regulators) is amended as follows.
(2) In subsection (1)(f) after “persons” insert “(including different kinds of person such as mutual societies and other kinds of business organisation)”.
(3) After subsection (3) insert—
“(3A) “Mutual society” has the same meaning as in section 138K.””