# Financial Services Act 2012, Paragraph 65


(1) Section 157 (change in default rules) is amended as follows.
(2) In subsection (1)—
(a) for “Authority”, in the first place, substitute “ appropriate regulator ”, and
(b) for “Authority”, in the second place, substitute “ regulator ”.
(3) At the end insert—
“(4) The appropriate regulator”—
(a) in relation to a recognised UK investment exchange, means the FCA, and
(b) in relation to a recognised UK clearing house, means the Bank of England.”

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Source: https://www.legislation.gov.uk/ukpga/2012/21/schedule/18/paragraph/65 (the official version)
Page: https://openlegislation.uk/financial-services-act-2012/schedule-18/paragraph-65
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.