9(1)In the provisions of Part 8 (market abuse) mentioned in sub-paragraph (2), for “Authority” or “Authority's”, in each place, substitute “FCA” or “FCA's”.
(2)The provisions are: sections 119, 120 (including the heading), 121 to 130A and 131A.
(3)In section 121 (codes: procedure), 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 code is issued, or
(ii)if subsection (5)(b) applies, from the code that has been issued, 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.”
(4)In section 130 (guidance), in subsection (1)(b), for “section 397 of this Act” substitute “Part 7 of the Financial Services Act 2012”.