# Financial Services Act 2012, Paragraph 14


(1) Section 296 (power to give directions) is amended as follows.
(2) In subsection (1), for “the Authority” substitute “ the appropriate regulator ”.
(3) In subsection (1A)—
(a) for the words from “in the case of a recognised body which is a recognised investment” to “the body” substitute “ if it appears to the appropriate regulator that a recognised body ”, and
(b) for the words from “directly applicable” to the end substitute “ directly applicable EU regulation specified (or of a description specified) in an order made by the Treasury ”.
(4) In subsection (2), for “The Authority” substitute “ The regulator concerned ”.
(5) In subsection (2A)—
(a) in the opening words, for “a recognised investment exchange other than an overseas investment exchange” substitute “ a recognised body other than an overseas investment exchange or overseas clearing house ”,
(b) in paragraph (a)—
(i) for “the Authority”, in both places, substitute “ the regulator concerned ”, and
(ii) for “the exchange” substitute “ the body ”, and
(c) in paragraph (b), for “the exchange” substitute “ the body ”.
(6) In subsection (3), for “the Authority” substitute “ the regulator concerned ”.
(7) In subsection (4), for “the Authority” substitute “ an appropriate regulator ”.
(8) In the heading, for “Authority's” substitute “Appropriate regulator's”.

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Source: https://www.legislation.gov.uk/ukpga/2012/21/schedule/8/paragraph/14 (the official version)
Page: https://openlegislation.uk/financial-services-act-2012/schedule-8/paragraph-14
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.