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2(1)Section 48 of the Financial Services Act 1986 (conduct of business rules) is amended as follows.
(2)In subsection (1) omit the words “members of a recognised self-regulating organisation or” and “organisation or”.
(3)After subsection (10) insert—
“(11)Section 63A below (application of designated rules) has effect as regards the application of rules under this section to members of recognised self-regulating organisations in respect of investment business in the carrying on of which they are subject to the rules of the organisation.”.