F1PART 9BRing-fencing
Group restructuring powers
142PSubsequent variation of requirement or direction
(1)
A regulator may at any time with the consent of the person concerned vary—
(a)
a requirement imposed by it as a result of section 142L(2)(a) or (b) or (3)(a) or (b), or
(b)
a direction given by it as a result of section 142L(2)(c) or (d) or (3)(c) or (d).
(2)
The person concerned may at any time apply to the appropriate regulator for the variation of—
(a)
a requirement imposed by it as a result of section 142L(2)(a) or (b) or (3)(a) or (b), or
(b)
a direction given by it as a result of section 142L(2)(c) or (d) or (3)(c) or (d).
(3)
Sections 55U, 55V, 55X and 55Z3 apply to an application under subsection (2) as they apply to an application for the variation of a requirement imposed by the appropriate regulator under section 55L or 55M.