67. The functions of The Securities and Investments Board under this Part of these Regulations shall be treated for the purposes of the 1986 Act and the Transfer of Functions (Financial Services) Order 1992(1) as if they were functions under Part VI of that Act which—
(a)had been functions of the Secretary of State; and
(b)had been transferred to that Board by the Financial Services Act 1986 (Delegation) Order 1987(2).