Paragraph 8 I1

In section 63A (performance of controlled functions without approval: power to impose penalties)—

(a)

for “Authority”, in each place, substitute “ appropriate regulator ”,

(b)

after subsection (5) insert—

“(5A)
The appropriate regulator”—
(a)
in relation to a controlled function which is of a description specified in rules made by the FCA, means the FCA, and
(b)
in relation to a controlled function which is of a description specified in rules made by the PRA, means the PRA.”, and

(c)

in subsection (6), after “Any” insert “ other ”.

Annotations

Commencement

I1: Sch. 5 para. 8 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.