Application of the FCA’s rules etc. to persons with interim permission
6.—(1) The FCA may direct in writing that any relevant provision which would otherwise apply to a person by virtue of an interim permission is not to apply, or is to apply to that person as modified in the way specified in the direction.
(2) Where the FCA makes a rule, gives guidance or issues a statement or code which applies only to persons with an interim permission (or only to a class of such persons), the following sections of the Act do not apply to that rule, guidance, statement or code—
(a)section 63D(1) (statement of policy: procedure);
(b)section 138I(2) (consultation by the FCA); and
(c)subsection (3) of section 139A(3) (power of the FCA to give guidance).
(3) For the purpose of paragraph (1), a “relevant provision” is any provision made as a result of the exercise by the FCA of any of its legislative functions mentioned in paragraph 8(3) of Schedule 1ZA(4) to the Act (the financial conduct authority).
Inserted by the Financial Services Act 2010, section 11 and amended by the Financial Services Act 2012, Schedule 5, paragraphs 11(2)(a), (b), 11(3), 11(4)(a), (b).
Inserted by the Financial Services Act 2012, section 24(1).
Inserted by the Financial Services Act 2012, section 24(1).
Inserted by the Financial Services Act 2012, section 6(2), Schedule 3 and amended by the Financial Services (Banking Reform) Act 2013 (c.33), section 35, Schedule 3, paragraph 16 and section 4(6); and the Collective Investment in Transferable Securities (Contractual Scheme) Regulations 2013 and S.I. 2013/1388.