PART 3FCA powers in relation to persons publishing or contributing to benchmarks
Application of the FCA's rules etc. to persons with interim permission32.
(1)
The FCA may direct in writing that any relevant provision which would otherwise apply to a person by virtue of an interim permission is not to apply, or is to apply to that person as modified in the way specified in the direction.
(2)
Where the FCA makes a rule, gives guidance or issues a statement or code which applies only to persons with an interim permission (or only to a class of such persons), the following sections of the Act do not apply to that rule, guidance, statement or code—
(a)
section 63D M1 (statement of policy: procedure);
(b)
section 138I M2 (consultation by the FCA); and
(c)
subsection (3) of section 139A M3 (power of the FCA to give guidance).
(3)
For the purpose of paragraph (1), a “relevant provision” is any provision made as a result of the exercise by the FCA of any of its legislative functions mentioned in paragraph 8(3) M4 of Schedule 1ZA to the Act (the FCA: arrangements for discharging functions).