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Financial Services and Markets Act 2000
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1(1)The Treasury may by order provide for any function conferred on the competent authority which is exercisable for the time being by a particular person to be transferred so as to be exercisable by another person.
(2)An order may be made under this paragraph only if—
(a)the person from whom the relevant functions are to be transferred has agreed in writing that the order should be made;
(b)the Treasury are satisfied that the manner in which, or efficiency with which, the functions are discharged would be significantly improved if they were transferred to the transferee; or
(c)the Treasury are satisfied that it is otherwise in the public interest that the order should be made.
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