PART IIIEFFECT OF RESTRICTIONS AND PROHIBITIONS IMPOSED UNDER OLD LAW
Prohibitions and requirements under the Financial Services Act
Requirements imposed under the Financial Services Act by virtue of the 2BCD or ISD Regulations as a matter of urgencyI137
Where a requirement which by virtue of article 34 has effect as if imposed under section 196—
a
was originally imposed, or was varied, in a case where regulation 17 of the 2BCD Regulations or regulation 11 of the ISD Regulations applied; and
b
was imposed or varied as a matter of urgency under regulation 17(5) of the 2BCD Regulations or (as the case may be) regulation 11(5) of the ISD Regulations,
it is to be treated as if section 199 had applied in its case and it had been imposed as mentioned in section 199(8)(a).