25.—(1) Part 25 of the Act (injunctions and restitution) applies for the purposes of these Regulations and of the Act as applied by these Regulations, and has effect for those purposes with the following modifications.
(2) A reference to a regulator, to the regulator concerned or to the appropriate regulator is a reference to the FCA.
(3) Ignore any reference to the Secretary of State.
(4) A reference to a relevant requirement is a reference to—
(a)a requirement imposed by Part 2 of these Regulations;
(b)a requirement to give notice under or in accordance with regulation 31 or 32; or
(c)a requirement imposed by or under the Act as applied by these Regulations.
(5) In section 380 (injunctions) ignore subsections (6) to (12).
(6) Ignore sections 381 (injunctions in cases of market abuse) and 383 (restitution orders in cases of market abuse).
(7) In section 382 (restitution orders) ignore subsections (9) to (15).
(8) Section 384 (power of FCA or PRA to require restitution) is to be read as if—
(a)in subsection (1)—
(i)the reference to an authorised person were a reference to a proxy advisor;
(ii)“or recognised investment exchange” were omitted;
(b)subsections (2) and (3) were omitted;
(c)in subsection (5) for “regulator exercising the power (“the regulator concerned”)” there were substituted “ FCA ”;
(d)in subsections (5) and (6) each reference to subsection (2) and to subsection (3) were omitted; and
(e)subsections (7) to (13) were omitted.
Commencement Information
I1Reg. 25 in force at 10.6.2019, see reg. 1