OpenLegislation

Article 50D FCA rulesF1F2F3

United Kingdom

Original text. Later amendments are not shown.

1.

The provisions of Part 9A of FSMA (rules and guidance) listed in paragraph 2 apply in relation to rules made by the FCA under F4this Regulation as they apply in relation to rules made by the FCA under that Part of that Act, subject to the F5modifications in paragraphs 2A and 3.

2.

The provisions are—

(a)

section 137T (general supplementary powers);

(b)

Chapter 2 (modification, waiver, contravention and procedural provisions), with the exception of section 138D (actions for damages) F6and section 138EA (matters to consider when making rules);

(c)

section 141A (power to make consequential amendments of references to rules etc).

F72A.

In its application to rules made under Article 31, section 138I has effect as if the reference to the PRA in subsection (1)(a) were a reference to the Bank of England.

3.

Section 137T applies as if the reference to authorised persons F8included a reference to persons who are not authorised persons but to whom any of the rules made by the FCA under this Regulation apply.

Annotations

Textual amendments

F1

Regulation revoked (5.4.2024 for the revocation of Sch. 3 paras. 17, 34-39, 1.12.2025 for the revocation of Art. 18b, 30.3.2026 for the revocation of Arts. 4, 4a) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 1 (with s. 1(4)); S.I. 2023/1382, reg. 4(b); S.I. 2025/1078, regs. 4(b), 6(b)

F2

Title 9 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 34 (as amended by S.I. 2019/710, regs. 1(2), 16(16)) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F3

Arts. 50C, 50D inserted (1.7.2021) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 10 para. 12 (with Sch. 10 para. 13); S.I. 2021/739, reg. 3(o)

F4

Words in Art. 50D(1) substituted (29.10.2024 for specified purposes, 31.3.2025 in so far as not already in force) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 27(2)(a) (with s. 2(3)); S.I. 2024/1071, regs. 3(b)(ix), 6(b)(iii)

F5

Words in Art. 50D(1) substituted (29.10.2024 for specified purposes, 31.3.2025 in so far as not already in force) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 27(2)(b) (with s. 2(3)); S.I. 2024/1071, regs. 3(b)(ix), 6(b)(iii)

F6

Words in Art. 50D(2)(b) inserted (29.10.2024 for specified purposes, 31.3.2025 in so far as not already in force) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 27(3) (with s. 2(3)); S.I. 2024/1071, regs. 3(b)(ix), 6(b)(iii)

F7

Art. 50D(2A) inserted (29.10.2024 for specified purposes, 31.3.2025 in so far as not already in force) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 27(4) (with s. 2(3)); S.I. 2024/1071, regs. 3(b)(ix), 6(b)(iii)

F8

Words in Art. 50D(3) substituted (29.10.2024 for specified purposes, 31.3.2025 in so far as not already in force) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 27(5) (with s. 2(3)); S.I. 2024/1071, regs. 3(b)(ix), 6(b)(iii)

Notes on Title IX

Textual amendments

F3

Word in Title 9 heading inserted (1.7.2021) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 10 para. 10; S.I. 2021/739, reg. 3(o)