# The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013, Paragraph 70: The Financial Services and Markets Act 2000 (Miscellaneous Provisions) Order 2001

Extent: E+W+S+N.I.

In the Financial Services and Markets Act 2000 (Miscellaneous Provisions) Order 2001—
(a) in article 18 (duty of auditors to communicate matters to the Authority) for “the Authority”—
(i) in the first place those words appear in paragraph (3), substitute “the FCA or, if the person concerned is or was a PRA-authorised person, or would have been a PRA-authorised person if the person was an authorised person on 1st April 2013, the PRA”;
(ii) in the second place those words appear in paragraph (3), substitute “that regulator”;
(iii) in the heading, substitute “the regulator”;
(b) in article 22 (transfer of liabilities), for “Authority” substitute “FCA”;
(c) in article 24 (exemption from liability in damages)—
(i) in paragraph (5), for “Authority” substitute “FCA”;
(ii) in paragraph (6)—
(aa) for “Authority’s functions for the purposes of paragraph 19 of Schedule 1” substitute “FCA’s functions for the purposes of paragraph 25 of Schedule 1ZA and the PRA’s functions for the purposes of paragraph 33 of Schedule 1ZB”;
(bb) for “the Authority” substitute “that regulator”;
(d) for article 25 substitute—
“Fees for the exercise of certain authority functions
25. (1) For the purposes of paragraph 23 of Schedule 1ZA (fees) the functions of the FCA specified by paragraph (3) are to be treated as functions of the FCA under the Act.
(2) For the purposes of paragraph 31 of Schedule 1ZB (fees) the functions of the PRA specified by paragraph (3) are to be treated as functions of the PRA under the Act.
(3) The functions are the functions of the relevant regulator—
(a) under the Financial Services Act (other than Part IV of that Act);
(b) under the Banking Act;
(c) under the 2BCD Regulations;
(d) under the ISD Regulations;
(e) as a result of any saving made by or under the Act from the effect of any repeal or revocation so made.
(4) For the purposes of paragraph 23 of Schedule 1ZA expenditure incurred in meeting a liability—
(a) transferred to the FCA by virtue of paragraph (1) of article 22 or of article 21, or
(b) arising from the exercise by the FCA of its functions as the competent authority under Part 4 of the Financial Services Act,
is to be treated as having been incurred in connection with the discharge by the FCA of functions under the Act.”;
(e) in article 28 (the Contracting Out Order)—
(i) in paragraph (2), for “the Authority” substitute “the Financial Services Authority”;
(ii) after paragraph (2) insert—
“(2A) On 1st April 2013 the rights, obligations and liabilities of the Financial Services Authority under any such contract transfer to—
(a) the PRA, to the extent that the right, obligation or liability relates to a matter relevant to prudential regulation,
(b) in any other case, the FCA.
(2B) Any obligation of the FCA under such a contract which continues to have effect after 1st April 2013 is to be treated as a function conferred on the FCA by or under a provision of the Act for the purposes of Schedule 1ZA.
(2C) Any obligation of the PRA under such a contract which continues to have effect after 1st April 2013 is to be treated as a function conferred on the PRA by or under a provision of the Act for the purposes of Schedule 1ZB.”;
(iii) omit paragraph (3);
(iv) in paragraph (4), for “Authority” substitute “FCA or the PRA”;
(v) in paragraph (5), for “Authority”—
(aa) in the first place it appears substitute “Financial Services Authority”;
(bb) in the second place it appears substitute “Financial Services Authority, FCA or PRA”.

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Source: https://www.legislation.gov.uk/uksi/2013/472/schedule/2/paragraph/70 (the official version)
Page: https://openlegislation.uk/financial-services-act-2012-consequential-amendments-and-transitional-provisions-order-2013/schedule-2/paragraph-70
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.