Scottish Parliament committee: Delegated Powers and Law Reform Committee
Recommendation 2
Financial Services and Markets Bill (UK Parliament legislation) – delegated powers exercisable within devolved competence, with reference to LCM-S7-8 and LCM-S7-8a.
SP Paper 29
Published 28 October 2026
Theme Review of relevant powers
Recommendation (the committee's words)
The Committee also draws the following to the Criminal Justice Committee's attention:
Only the Treasury or the Secretary of State can exercise the power within the Scottish Parliament’s legislative competence.
Regulations will be laid before and scrutinised by the United Kingdom Parliament only.
The Treasury or the Secretary of State must consult with the Scottish Ministers before making regulations which amend Parts 3 or 5 of the Proceeds of Crime Act 2002.
The regulations will fall within the scope of the UKSI Protocol and will be notified to the Scottish Parliament only after becoming law.
Only the Treasury or the Secretary of State can exercise the power within the Scottish Parliament’s legislative competence.
Regulations will be laid before and scrutinised by the United Kingdom Parliament only.
The Treasury or the Secretary of State must consult with the Scottish Ministers before making regulations which amend Parts 3 or 5 of the Proceeds of Crime Act 2002.
The regulations will fall within the scope of the UKSI Protocol and will be notified to the Scottish Parliament only after becoming law.
From: Delegated Powers and Law Reform Committee, Financial Services and Markets Bill (UK Parliament legislation) – delegated powers exercisable within devolved competence, with reference to LCM-S7-8 and LCM-S7-8a. (SP Paper 29), 28 October 2026
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