SCHEDULES

SCHEDULE 18Further minor and consequential amendments

PART 1Amendments of FSMA 2000

22

(1)

Section 407 (consequences of a direction under section 405) is amended as follows.

(2)

In subsection (1)—

(a)

for “the Authority”, in the first place, substitute “ a regulator ”,

(b)

in paragraph (a), for “subsections (7) to (9) of section 52 do” substitute “ section 55X does ”, and

(c)

in paragraph (b), for “Authority” substitute “ regulator ”.

(3)

In subsection (2)—

(a)

for “the Authority”, in the first place, substitute “ a regulator ”,

(b)

in paragraph (a), for “section 52(1) and (2)” substitute “ subsections (1) to (3) of section 55V ”, and

(c)

in paragraph (b), for “Authority” substitute “ regulator ”.

(4)

In subsection (3)—

(a)

for “the Authority”, in the first place, substitute “ a regulator ”, and

(b)

in paragraph (b), for “Authority” substitute “ regulator ”.