[F1142QConsultation etc. between regulatorsU.K.
(1)Where a notice under section 142M or a warning notice or decision notice under section 142N relates to a requirement to be imposed in pursuance of a direction to be given as a result of section 142L(2)(c) or (3)(c), the appropriate regulator must—
(a)consult the other regulator before giving the notice, and
(b)give a copy of the notice to the other regulator.
(2)The appropriate regulator must consult the other regulator before varying under section 142P a direction given as a result of section 142L(2)(c) or (3)(c).
(3)Directions given by the FCA as a result of section 142L(3)(c) are subject to any directions given to the FCA under section 3I.]
Textual Amendments
F1Pt. 9B inserted (1.3.2014 for the insertion of ss. 142A-142F, 142I, 142W-142Z1 for specified purposes) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 4(1), 148(5); S.I. 2014/377, art. 2(1)(b), Sch. Pt. 2