Modification to section 137S (financial promotion rules: directions given by FCA)
9. Section 137S (financial promotion rules: directions given by FCA)(1) applies as if—
(a)in subsection (1)—
(i)for paragraph (a) there was substituted—
“(a)a registered person has made, or proposes to make, a communication, and”;
(ii)in paragraph (b), “or approval” was omitted;
(b)in subsection (2)—
(i)in the words before paragraph (a), for “authorised person” there was substituted “registered person”;
(ii)in paragraph (a), “or approval” was omitted;
(iii)in paragraph (b)—
(aa)“or giving the approval” was omitted;
(bb)“or given” was omitted;
(iv)in paragraph (d), “or approval” was omitted;
(c)in subsection (3), “or approving” were omitted in both places;
(d)in subsection (5)—
(i)in the words before paragraph (a), for “an authorised person” there was substituted “a registered person”;
(ii)in paragraph (a), for “authorised person, and” there was substituted “registered person.”;
(iii)paragraph (b) was omitted;
(e)in subsection (8)—
(i)in paragraph (a), for “persons mentioned in subsection (5)(a) or (b)” there was substituted “registered person”;
(ii)in paragraph (b), “any” was omitted;
(f)in subsection (10), for “those persons” there was substituted “that person”;
(g)subsection (12) was omitted.
Section 137S was inserted by section 24(1) of the Financial Services Act 2012.