Paragraph 5 I1C1C2
United Kingdom
The Regulator may make arrangements for any of its functions to be discharged by—
a committee, sub-committee, officer or member of staff of the Regulator;
an officer or member of staff of the FCA.
This is subject to sub-paragraphs (2) to (4).
In exercising any functions within sub-paragraph (3), the Regulator must act through its board.
The functions referred to in sub-paragraph (2) are—
giving general directions under section 54;
imposing generally-imposed requirements under section 55.
making technical standards in accordance with section 97A; and
making EU Exit instruments under the Financial Regulators’ Powers (Technical Standards) (Amendment etc.) (EU Exit) Regulations 2018.
The function of issuing general guidance may not be discharged by an officer or member of staff of the Regulator or of the FCA.
Annotations
Textual amendments
- F1
Sch. 4 para. 5(3)(c)(d) inserted (26.10.2018) by The Financial Regulators Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1115), regs. 1(2), 10(5)(a)
Modifications
- C1
Sch. 4 paras. 5, 7, 9-14 applied (with modifications) (9.12.2015) by The Payment Card Interchange Fee Regulations 2015 (S.I. 2015/1911), regs. 1, 15(3) (as amended (1.1.2024) by The Electronic Money, Payment Card Interchange Fee and Payment Services (Amendment) Regulations 2023 (S.I. 2023/790), reg. 3(10))
- C2
Sch. 4 para. 5 applied (with modifications) (13.1.2018) by The Payment Services Regulations 2017 (S.I. 2017/752), regs. 1(6), 136(3) (with reg. 3)
Commencement
- I1
Sch. 4 para. 5 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1