{
  "url": "https://openlegislation.uk/draft-small-and-medium-sized-business-finance-platforms-regulations-2015/regulation-23",
  "json_url": "https://openlegislation.uk/draft-small-and-medium-sized-business-finance-platforms-regulations-2015/regulation-23.json",
  "legislation": "ukdsi/2015/9780111138939",
  "legislation_title": "The Small and Medium Sized Business (Finance Platforms) Regulations 2015",
  "legislation_url": "https://openlegislation.uk/draft-small-and-medium-sized-business-finance-platforms-regulations-2015",
  "path": "regulation/23",
  "kind": "regulation",
  "number": "23",
  "heading": "Information gathering and investigations under Part 11 of the 2000 Act",
  "text": "Part 11 (information gathering and investigations) of the 2000 Act applies for the purposes of this Part as if—\n(a) each reference in that Part to the 2000 Act were a reference to this Part;\n(b) each reference in that Part to an authorised person were a reference to a designated firm;\n(c) each reference in that Part to the PRA were omitted;\n(d) each reference in that Part to either regulator were a reference to the FCA only;\n(e) in section 165(7) (regulators’ power to require information: authorised persons etc.), paragraphs (b) to (e) were omitted;\n(f) sections 165A (PRA’s power to require information: financial stability), 165B (safeguards etc in relation to exercise of power under section 165A) and 165C (orders under section 165A(2)(d)) were omitted;\n(g) in section 166 (reports by skilled persons), subsections (10) and (11) were omitted;\n(h) in section 166A (appointment of skilled person to collect and update information)—\n(i) in subsection (1) for “rules made by that regulator to collect, and keep up to date, information of a description specified in the rules” there were substituted “regulation 21 of the Small and Medium Sized Business (Finance Platforms) Regulations 2015 to maintain relevant records as specified in those Regulations”;\n(ii) each reference in that section to “information” were a reference to “relevant records”;\n(iii) subsection (10) were omitted;\n(i) in section 167 (appointment of persons to carry out general investigations)—\n(i) in subsection (1)—\n(aa) for “an investigating authority” and “the investigating authority” there were substituted “the FCA”;\n(bb) in paragraphs (a) and (c) of subsection (1) the words “a recognised investment exchange or” were omitted;\n(cc) in paragraph (a) of subsection (1) the words “or of an appointed representative” were omitted;\n(ii) in subsection (4) the words “(or appointed representative)” were omitted in each place;\n(iii) subsections (2)(c), (3A), (5A) and (6) were omitted;\n(j) in section 168 (appointment of persons to carry out investigations in particular cases)—\n(i) in subsection (1)—\n(aa) for “an investigating authority” there were substituted “the FCA”;\n(bb) for paragraph (b) there were substituted—\n“(b) a designated firm may have contravened a requirement imposed by or under the Small and Medium Sized Business (Finance Platforms) Regulations 2015, or a person may be guilty of an offence under regulation 31 of those Regulations (misleading the FCA).”;\n(ii) in subsection (3) for “investigating authority” there were substituted “FCA”; and\n(iii) subsections (2), (4), (5) and (6) were omitted;\n(k) sections 169 (investigations etc. in support of overseas regulator) and 169A (support of overseas regulator with respect to financial stability) were omitted;\n(l) in section 170 (investigations: general)—\n(i) in subsection (1) “or (5)” were omitted;\n(ii) in subsection (3)(a) “or (4)” were omitted;\n(iii) subsection (3)(b) and the preceding “; or” were omitted; and\n(iv) for subsection (10) the following were substituted—\n“(10) “Investigating authority” in this Part is to be read as a reference to the FCA.”;\n(m) in section 171 (powers of persons appointed under section 167), subsections (3A) and (7) were omitted;\n(n) in section 172 (additional power of persons appointed as a result of section 168(1) or (4)), in the heading and in subsection (4), “or (4)” were omitted;\n(o) section 173 (powers of persons appointed as a result of section 168(2)) were omitted;\n(p) in section 174 (admissibility of statements made to investigators)—\n(i) in subsection (2) “or in proceedings in relation to action to be taken against that person under section 123” were omitted;\n(ii) in subsection (3)(a) for “398” there were substituted “regulation 31 of the Small and Medium Sized Business (Finance Platforms) Regulations 2015 (misleading the FCA)”;\n(iii) in subsection (4), “or (5)” were omitted;\n(iv) in subsection (5) “, 173” were omitted;\n(q) in section 175(8) (information and documents: supplemental provisions) “or (5)” were omitted;\n(r) in section 176 (entry of premises under warrant)—\n(i) in subsection (1) “the Secretary of State,” were omitted and “first or second” were substituted for “first, second or third”;\n(ii) in subsection (3)(a) “or an appointed representative” were omitted;\n(iii) subsection (4) were omitted;\n(iv) in subsection (10) “or (5)” were omitted;\n(v) in subsection (11)—\n(aa) in paragraph (a) “87C, 87J,” and “,165A, 169A” were omitted; and\n(bb) in paragraph (b) “, 173” were omitted.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Part 11 is amended by paragraph 33 of Schedule 7 to the Counter Terrorism Act 2008 (c.28), section 18 of and Schedule 2 to the Financial Services Act 2010 (c.28), Schedule 12 to and paragraph 8 of Schedule 18 to the Financial Services Act 2012, S.I. 2001/1090, S.I. 2007/126, S.I. 2011/1043, S.I. 2012/2554, S.I. 2013/1773 and S.I. 2015/575. Other amendments are not relevant here."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2015/9780111138939/regulation/23",
    "retrieved_at": "2026-10-30T15:09:19.612347+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}