Paragraph 34 I1I2

Section 195 (exercise of power in support of overseas regulator) is amended as follows.

In subsection (1), for “Authority” substitute “ appropriate regulator ”.

In subsection (2), for “Authority's” substitute “appropriate regulator's”.

After subsection (2) insert—

“(2A)

The appropriate regulator” means—

(a)

where the incoming firm is a PRA-authorised person, the FCA or the PRA;

(b)

in any other case, the FCA.”

In subsection (4)—

In subsections (5) to (8), for “Authority”, in each place, substitute “ appropriate regulator ”.