13(1)Section 206A (suspending permission to carry on regulated activities etc.) is amended as follows.U.K.
(2)In subsection (1), for “Authority” substitute “ appropriate regulator ”.
(3)After that subsection insert—
“(1A)The power conferred by subsection (1) is also exercisable by the FCA if it considers that an authorised person has contravened a requirement imposed on the person by—
(a)the Payment Services Regulations 2009, or
(b)the Electronic Money Regulations 2011.”
(4)In subsection (2)—
(a)in the definition of “permission”, for “the Authority” substitute “ the FCA or the PRA ”, and
(b)omit the definition of “relevant requirement”.
(5)In subsection (6), for “Authority” substitute “ appropriate regulator ”.
Commencement Information
I1Sch. 9 para. 13 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.