3(1)Regulations may permit the Regulator to waive the requirement for authorisation, as mentioned in section 4(1)(c), in specified cases or circumstances.E+W
(2)Regulations by virtue of this sub-paragraph may permit waiver in relation to a person only—
(a)if the Secretary of State intends to exempt the person under section 6, and
(b)for a single period not exceeding six months.
(3)The regulations may, in particular, permit or require the Regulator to provide for waiver to be subject to a condition of a kind specified in the regulations.