Ref: ISBN 978-1-909790-91-9, PU1642
Unnumbered act paper
PDF, 210KB, 18 pages
HM Treasury has a limited number of Powers of Entry (PoEs) under its remit, but they are important in ensuring the effectiveness of regulation in the financial services sector. The department has reviewed a total of 10 PoEs within the scope of this review and concluded that 1 power will be repealed and 9 powers will be retained. Of the powers retained, 6 will be modified to include additional safeguards to protect businesses and provide assurances that the powers will not be subject to abuse and will only be used as intended by enforcing authorities.
The Protection of Freedoms Act 2012 (the Act) gives effect to the government’s commitment to reduce more than 1,300 existing PoEs, which enable state officials to enter and inspect homes and businesses to carry out their regulatory duties. The Act also places a duty on secretaries of state to review the PoEs they are responsible for and report back to Parliament. The purpose of the review is to examine each individual power, and see if that power:
is still required or should be repealed
should have further safeguards added to it
can be consolidated with other similar powers, to reduce the overall number