# Financial Services Act 2012, Paragraph 34


(1) Section 195 (exercise of power in support of overseas regulator) is amended as follows.
(2) In subsection (1), for “Authority” substitute “ appropriate regulator ”.
(3) In subsection (2), for “Authority's” substitute “appropriate regulator's”.
(4) 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.”
(5) In subsection (4)—
(a) in paragraph (a), for “the Authority” substitute “ either regulator ”, and
(b) omit paragraph (b).
(6) In subsections (5) to (8), for “Authority”, in each place, substitute “ appropriate regulator ”.

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Source: https://www.legislation.gov.uk/ukpga/2012/21/schedule/4/paragraph/34 (the official version)
Page: https://openlegislation.uk/financial-services-act-2012/schedule-4/paragraph-34
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.