Paragraph 23 Modification to section 384 (power of the FCA or PRA to require restitution)

Section 384 (power of the FCA or PRA to require restitution)^f1 applies as if—

(a)

in subsection (1), in the words before paragraph (a)—

(i)

for “appropriate regulator” there was substituted “FCA”;

(ii)

for “an authorised person or recognised investment exchange” there was substituted “a registered person”;

(b)

in subsection (7), paragraph (c) was omitted;

(c)

subsections (9) to (13) were omitted.

Annotations

f1: Section 384 was amended by paragraph 23 of Schedule 9 to the Financial Services Act 2012, paragraph 3(4) of Schedule 10 to the Financial Services (Banking Reform) Act 2013 and S.I. 2007/126, 2013/1773, 2016/680, 2019/632.