Article 14 Guidance on continued provisions

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

art. 14 words substituted by Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) 2013 Sch. 2 para. 76(d)(i)
art. 14 words substituted by Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) 2013 Sch. 2 para. 76(d)(ii)
art. 14 words substituted by Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) 2013 Sch. 2 para. 76(d)(iii)

(1)

This article applies to any guidance which—

(a)

relates to the operation of any continued provision; or

(b)

is consequential on or supplemental to the designation of any existing provision.

(2)

Where the Authority” gives guidance to which this article applies, the Authority” is to be treated as having complied with section 157(3) of the Act in relation to that guidance.

(3)

The Authority must, when it gives guidance to which this article applies, publish—

(a)

an estimate of the costs together with an analysis of the benefits that will arise from the guidance;

(b)

an explanation of the purpose of the guidance; and

(c)

an explanation of the Authority”’s reasons for believing that giving the guidance is compatible with its general duties under section 2 of the Act.