(1)This section applies where—
(a)an approved regulator amends its regulatory scheme so as to exclude the regulation of particular categories of licensed providers or legal services, or
(b)the authorisation of an approved regulator is to be (or has been)—
(i)amended by virtue of section 38(4)(e) so as to exclude the regulation of certain categories of licensed providers or legal services,
(ii)rescinded by virtue of section 38(4)(f), or
(iii)surrendered by virtue of section 39(1).
(2)The Scottish Ministers may direct the approved regulator to take specified action (or refrain from doing something) if they consider that to be necessary or expedient for the continued effective regulation of a licensed provider.
(3)The approved regulator must (so far as practicable) comply with a direction given to it under subsection (2).
(4)For the purposes of this section, a reference to an approved regulator includes (as the context requires) a former approved regulator.
Commencement Information
I1S. 40 in force at 2.7.2012 by S.S.I. 2012/152, art. 2, Sch.