Amendments of Financial Services and Markets Act 2000
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2(1)Section 59 (approval for particular arrangements) is amended as follows.
(2)For subsection (6A) substitute—
“(6A)If the FCA is satisfied that a function of a description specified in rules made by the FCA under subsection (3)(a) or (b) is a senior management function as defined in section 59ZA, the FCA must designate the function in the rules as a senior management function.”
(3)Omit subsections (6B) and (6C).