34(1)Section 195 (exercise of power in support of overseas regulator) is amended as follows.U.K.
(2)In subsection (1), for “Authority” substitute “ appropriate regulator ”.
(3)In subsection (2), for “Authority's” substitute “appropriate regulator's”.
(4)After subsection (2) insert—
“(2A)The appropriate regulator” means—
(a)where the incoming firm is a PRA-authorised person, the FCA or the PRA;
(b)in any other case, the FCA.”
(5)In subsection (4)—
(a)in paragraph (a), for “the Authority” substitute “ either regulator ”, and
(b)omit paragraph (b).
(6)In subsections (5) to (8), for “Authority”, in each place, substitute “ appropriate regulator ”.
Commencement Information
I1Sch. 4 para. 34 in force at 27.2.2013 for specified purposes by S.I. 2013/423, art. 2
I2Sch. 4 para. 34 in force at 1.4.2013 in so far as not already in force by S.I. 2013/423, art. 3, Sch.