2(1)The Scottish Ministers may direct the approved regulator to take—S
(a)in a case falling within paragraph 1(a), such action as they consider will counter the adverse impact, mitigate its effect or prevent its recurrence,
(b)in a case falling within paragraph 1(b) or (c), such action as they consider will remedy the failure, mitigate its effect or prevent its recurrence,
(c)in a case falling within paragraph 1(d), such action as they consider necessary or expedient in relation to such transitional matters as may arise from the amendment.
(2)A direction under sub-paragraph (1) may require the approved regulator to modify any part of its regulatory scheme.
(3)A direction under sub-paragraph (1) must not be framed by reference to—
(a)a specific disciplinary case, or
(b)other specific regulatory proceedings.
(4)A direction under sub-paragraph (1) may require the approved regulator to refrain from doing something.
(5)The approved regulator must (so far as practicable) comply with a direction given to it in accordance with this schedule.
Commencement Information
I1Sch. 2 para. 2 in force at 1.4.2011 for specified purposes by S.S.I. 2011/180, art. 3, Sch.
I2Sch. 2 para. 2 in force at 2.7.2012 in so far as not already in force by S.S.I. 2012/152, art. 2, Sch.