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SCHEDULE 5OTHER AMENDMENTS OF THE ACT

Amendment of section 425

22.  In section 425(1) (expressions relating to authorisation elsewhere in the single market), in subsection (1)(a)—

(a)omit ““investment services directive”,”; and

(b)after ““single market directives”“ insert ““, tied agent”“.

(1)

Section 425(1)(a) was substituted by S.I. 2003/2066 and amended by S.I. 2004/3379.