Moved by
Lord Newby
5: Clause 48, page 21, leave out lines 1 and 2 and insert—
““appropriate independent advice” means advice that—
(a) is given by an authorised independent adviser, and
(b) meets any other requirements specified in regulations made by the Secretary of State;
“authorised independent adviser” means a person who—
(a) has permission under Part 4A of the Financial Services and Markets Act 2000, or resulting from any other provision of that Act, to carry on a regulated activity specified in regulations made by the Secretary of State, and
(b) meets such other requirements as may be specified in regulations made by the Secretary of State for the purpose of ensuring that the person is independent;”