FSMB: Economic Secretary writes to Treasury on DAR

Andrew Griffith has written to Dame Angela Eagle to follow up on questions she raised regarding the delegated powers in the FSM Bill. In particular, Dame Angela raised the provisions in Clause 8 (the Designated Activities Regime (DAR)), and specifically new section 71Q(3) which gives HM Treasury the power to modify existing criminal offences.

In his letter, Mr Griffith confirmed that these provisions do not give Treasury a power to create new criminal offences under the DAR. He explained that the government will only be able to apply and modify, including by extending the scope of, criminal offences which already exist in FSMA, to the extent that the still apply to the carrying on of the designated activity in question, but that this would not enable Treasury to create a wholly new criminal offence in relation to that activity.

Emma Radmore