Paragraph 9 Modification to section 137S (financial promotion rules: directions given by FCA)

Section 137S (financial promotion rules: directions given by FCA)^f1 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.

Annotations

f1: Section 137S was inserted by section 24(1) of the Financial Services Act 2012.