Article 63 Designation of provisions made under the 1974 Act

The FCA may designate a relevant instrument, or part of a relevant instrument, if the FCA considers it necessary or expedient to do so in consequence of any provision made by or under this Order.

If the FCA designates a relevant instrument or part of such an instrument, in accordance with this article, the FCA must specify whether the instrument or part is to be treated as having been made by the FCA as a rule under section 137A of the Act or under a specified provision of the Regulated Activities Order (“the specified section or provision”).

An instrument or part which is designated by the FCA in accordance with this article is to be treated for all purposes as having been made as a rule under the specified section or provision.

The FCA may make such modifications to a relevant instrument or part designated, or being designated, as it considers necessary or expedient in consequence of any provision made by this Order.

For the purposes of this article and article 64—

• “relevant instrument” means any subordinate legislation or part of any subordinate legislation which is—

  1. (a)

     made under Part 2 of the 1974 Act (irrespective of whether it is also made under section 182 of that Act), and

  2. (b)

     revoked by this Order;

• “specified” means specified by the FCA in a designating instrument.