Article 9 Modification of the regulators’ rule making powersF7I1

Section 137A(1) of FSMA (the FCA’s general rules) has effect as if at the end there were inserted “or for the purposes of, to facilitate or in consequence of the Dunfermline Building Society Property Transfer Instrument 2009”.

Section 137G(1) of FSMA (the PRA’s general rules) has effect as if at the end there were inserted “or for the purposes of, to facilitate or in consequence of the Dunfermline Building Society Property Transfer Instrument 2009”.

F2Section 138A(1) of FSMA (modification or waiver of rules) is modified so it applies in relation to a relevant person—

F3Section 138A(4) of FSMA is to have effect such that it does not prevent the F4FCA or the PRA from modifying or waiving rules in relation to a relevant person under F5section 138A where the following condition is satisfied.

The condition is that F6that regulator is satisfied that the modification or waiver is necessary for the purposes of, to facilitate or in consequence of the Property Transfer Instrument.

In this article, relevant persons are Dunfermline Building Society and the Dunfermline Bridge Bank.