The Financial Services and Markets Act 2000 M1 is amended as follows.

In section 3E (memorandum of understanding) M2, omit subsection (2)(f) and (k).

Omit section 34 (EEA firms) M3.

Omit section 35 (Treaty firms) M4.

In section 55A (application for permission) M5, omit subsection (4).

In section 55Q (exercise of power in support of overseas regulator) M6, omit subsection (2).

In section 55R (persons connected with an applicant) M7, omit subsections (2) to (3B).

In section 137A (the FCA's general rules) M9, omit subsection (5).

In section 137G (the PRA's general rules) M10, omit subsection (5).

In section 168 (appointment of persons to carry out investigations in particular cases) M11, in subsection (1)(b), omit “or under Schedule 4”.

Omit Part 13 (incoming firms: intervention by FCA or PRA), except for, in section 195 (exercise of power in support of overseas regulator), subsections (3) and (4).

Omit Part 13A (enhanced supervision of firms exercising rights under the Insurance Distribution Directive) M12.

In section 213 (the compensation scheme) M13, omit subsections (10) and (11).

In section 214 (provisions of the scheme: general), omit subsection (5).

In section 224 (scheme manager's power to inspect documents held by Official Receiver etc.), omit subsection (4).

In section 234K (duty to consider exercise of powers under Competition Act 1998) M14, in subsection (3), omit paragraph (f).

In section 313D (interpretation of Part 18A) M15, in subsection (1), in the definition of “institution”, omit from “but does not include” to the end.

Omit section 368 (winding-up petitions: EEA and Treaty firms) M16.

In Schedule 1ZA (the Financial Conduct Authority) M18, in Part 3 (penalties and fees), omit paragraph 24(a) (together with the final “or”).

In Schedule 1ZB (the Prudential Regulation Authority) M19, in Part 3 (penalties and fees), omit paragraph 32(a) (together with the final “or”).