The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013

The Amendments to Law (Resolution of Dunfermline Building Society) Order 2009

167.  In the Amendments to Law (Resolution of Dunfermline Building Society) Order 2009(1)—

(a) in article 6(4) (proceedings against directors), for “FSA” substitute “Financial Conduct Authority or the Prudential Regulation Authority”;

(b) in article 9 (modification of the FSA’s rule making power)—

(i) for paragraph (1) substitute—

“(1) Section 137A(1) of FSMA (the FCA’s general rules) has effect as if at the end there were inserted “or for the purposes of, to facilitate or in consequence of the Dunfermline Building Society Property Transfer Instrument 2009”.

(1A) Section 137G(1) of FSMA (the PRA’s general rules) has effect as if at the end there were inserted “or for the purposes of, to facilitate or in consequence of the Dunfermline Building Society Property Transfer Instrument 2009”.”;

(ii) in paragraph (2), for “Section 148(2)” substitute “Section 138A(1)”;

(iii) in paragraph (3)—

(aa) for “Section 148(4)” substitute “Section 138A(4)”;

(bb) for “FSA” substitute “FCA or the PRA”;

(cc) for “section 148” substitute “section 138A”;

(iv) in paragraph (4), for “the FSA” substitute “that regulator”;

(v) in the heading, for “FSA’s rule-making power” substitute “regulators’ rule making powers”;

(c) in article 10 (modification to the FSA’s duty to consult on rule changes)—

(i) in paragraph (1), for “Section 155(7)” substitute “Subsections (1) and (2) of section 138L”;

(ii) in paragraph (2)—

(aa) for “Section 157 of FSMA (guidance)” substitute “Section 139A of FSMA (power of the FCA to give guidance)”;

(bb) for “Section 155(7)” substitute “Section 138L(1)”;

(iii) in the heading, for “FSA’s duty” substitute “regulators’ duties”.

(1)

S.I. 2009/814.