SCHEDULES
SCHEDULE 4EEA passport rights and treaty rights
PART 4Amendments of Part 13 of FSMA 2000: Powers of intervention
34
(1)
Section 195 (exercise of power in support of overseas regulator) is amended as follows.
(2)
In subsection (1), for “Authority” substitute “appropriate regulator”.
(3)
In subsection (2), for “Authority's” substitute “appropriate regulator's”.
(4)
After subsection (2) insert—
“(2A)
The appropriate regulator” means—
(a)
where the incoming firm is a PRA-authorised person, the FCA or the PRA;
(b)
in any other case, the FCA.”
(5)
In subsection (4)—
(a)
in paragraph (a), for “the Authority” substitute “either regulator”, and
(b)
omit paragraph (b).
(6)
In subsections (5) to (8), for “Authority”, in each place, substitute “appropriate regulator”.