Paragraph 14

(1)

Section 42C^f1 (variation and revocation of transfer directions) is amended as follows.

(2)

In subsection (1), for “Authority” substitute “appropriate authority”.

(3)

After subsection (1), insert—

“(1A)
If the appropriate authority is the PRA, it must consult the FCA before varying or revoking a direction.”.

Annotations

f1: Section 42C was inserted by the Building Societies Act 1997, section 18 and amended by S.I. 2001/2617.