Amendments of Financial Services and Markets Act 2000
This section has no associated Explanatory Notes
2(1)Section 59 (approval for particular arrangements) is amended as follows.
(2)For subsection (6A) substitute—
“(6A)If the FCA is satisfied that a function of a description specified in rules made by the FCA under subsection (3)(a) or (b) is a senior management function as defined in section 59ZA, the FCA must designate the function in the rules as a senior management function.”
(3)Omit subsections (6B) and (6C).