Financial Services Act 2021

FCA directions and rules

12 After that Article insert—

“Article 50C Other FCA directions

1. A direction by the FCA under Article 46(4) may make different provision in relation to different applications or categories of application.

2. A direction by the FCA under Article 46(5) may make different provision for different cases or categories of case.

3. A direction by the FCA under Article 46 may be varied or revoked by a further direction under that provision.

4. A direction by the FCA under Article 46 must—

(a) be in writing, and

(b) be published by the FCA in a manner suitable to bring it to the attention of persons likely to be affected by it.

Article 50D FCA rules

1. The provisions of Part 9A of FSMA (rules and guidance) listed in paragraph 2 apply in relation to rules made by the FCA under Article 46(6B) or 48A as they apply in relation to rules made by the FCA under that Part of that Act, subject to the modification in paragraph 3.

2. The provisions are—

(a) section 137T (general supplementary powers);

(b) Chapter 2 (modification, waiver, contravention and procedural provisions), with the exception of section 138D (actions for damages);

(c) section 141A (power to make consequential amendments of references to rules etc).

3. Section 137T applies as if the reference to authorised persons were a reference to third-country firms providing services or performing activities in accordance with Article 46.”