# Financial Services Act 2012, Paragraph 35


(1) Section 396 (statements under s.395: consultation) is amended as follows.
(2) In subsection (1)—
(a) after “a statement of” insert “ its ”,
(b) for “the Authority”, in the first place, substitute “ the regulator ”,
(c) for “the Authority”, in the second place, substitute “ it ”, and
(d) for “it” substitute “ the draft ”.
(3) In subsection (2), for “Authority” substitute “ regulator publishing the draft ”.
(4) In subsection (3), for “Before issuing the proposed statement of procedure, the Authority” substitute “ Before a regulator issues the proposed statement of its procedure, it ”.
(5) In subsection (4), for “Authority issues the proposed statement of procedure” substitute “ regulator issues the proposed statement of its procedure, ”.
(6) In subsection (5)—
(a) for “statement of procedure differs from the draft published” substitute “ statement of the regulator's procedure differs from the draft published by it ”,
(b) for “, in the opinion of the Authority,” substitute “ , in its opinion, ”, and
(c) for “the Authority must” substitute “ it must ”.
(7) In subsection (6)—
(a) for “The Authority” substitute “ The regulator publishing a draft under subsection (1) ”, and
(b) for “a draft published under subsection (1)” substitute “ the draft ”.

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Source: https://www.legislation.gov.uk/ukpga/2012/21/schedule/9/paragraph/35 (the official version)
Page: https://openlegislation.uk/financial-services-act-2012/schedule-9/paragraph-35
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.