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SCHEDULE 4U.K.EEA passport rights and treaty rights

PART 4 U.K.Amendments of Part 13 of FSMA 2000: Powers of intervention

32(1)Section 194 (general grounds on which power of intervention is exercisable) is amended as follows.U.K.

(2)In subsection (1)—

(a)for “Authority”, in each place, substitute “ appropriate regulator ”,

(b)in paragraph (c), for the words from “meet” to the end substitute advance—

(i)in the case of the FCA, one or more of its operational objectives, and

(ii)in the case of the PRA, any of its objectives.

(3)After subsection (1A) insert—

(1B)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.

(4)In subsection (3), for “Authority”, in each place, substitute “ FCA ”.

Commencement Information

I1Sch. 4 para. 32 in force at 27.2.2013 for specified purposes by S.I. 2013/423, art. 2

I2Sch. 4 para. 32 in force at 1.4.2013 in so far as not already in force by S.I. 2013/423, art. 3, Sch.