SCHEDULES
SCHEDULE 5Performance of regulated activities
8
In section 63A (performance of controlled functions without approval: power to impose penalties)—
a
for “Authority”, in each place, substitute “appropriate regulator”,
b
after subsection (5) insert—
5A
The appropriate regulator”—
a
in relation to a controlled function which is of a description specified in rules made by the FCA, means the FCA, and
b
in relation to a controlled function which is of a description specified in rules made by the PRA, means the PRA.
c
in subsection (6), after “Any” insert “other”.