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16(1)Paragraph 24 (which relates to UK firms exercising rights under the banking consolidation directive) is amended as follows.U.K.
(2)In sub-paragraph (1)(a), for “Part IV permission” substitute “ Part 4A permission ”.
(3)In sub-paragraph (2)—
(a)for “the Authority”, in the first place, substitute “ either regulator ”,
(b)in paragraph (a), for “Part IV permission” substitute “ Part 4A permission ”, and
(c)in paragraph (b), for “the Authority” substitute “ that regulator ”.
Commencement Information
I1Sch. 4 para. 16 in force at 27.2.2013 for specified purposes by S.I. 2013/423, art. 2
I2Sch. 4 para. 16 in force at 1.4.2013 in so far as not already in force by S.I. 2013/423, art. 3, Sch.