4U.K.In section 330 (consultation)—
(a)for “Authority”, in each place, substitute “ FCA ”, and
(b)for subsection (10) substitute—
“(10)Cost benefit analysis” means—
(a)an analysis of the costs together with an analysis of the benefits that will arise—
(i)if the proposed direction is given, or
(ii)if subsection (5)(b) applies, from the direction that has been given, and
(b)subject to subsection (10A), an estimate of those costs and of those benefits.
(10A)If, in the opinion of the FCA—
(a)the costs or benefits referred to in subsection (10) cannot reasonably be estimated, or
(b)it is not reasonably practicable to produce an estimate,
the cost benefit analysis need not estimate them, but must include a statement of the FCA's opinion and an explanation of it.”
Commencement Information
I1Sch. 16 para. 4 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.