F1TITLE IXREGULATIONS, DIRECTIONS , RULES AND TRANSFERRED FUNCTIONS
Article 51Transfer of MiFID functions
1.
The Treasury may make regulations for the purposes specified in Part 1 of Schedule 3 to this Regulation.
2.
The FCA may make technical standards for the purposes set out in Part 2 of Schedule 3 to this Regulation.
(3.
The FCA may make technical standards for the purposes set out in Part 3 of Schedule 3 to this Regulation applying to authorised persons who are not PRA-authorised persons.
(4.
The PRA may make technical standards for the purposes set out in Part 3 of Schedule 3 to this Regulation applying to authorised persons who are PRA-authorised persons.
(5.
For the purposes of this Article—
“authorised persons” has the meaning given in section 31(2) of FSMA;
“PRA-authorised person” has the meaning given in section 2B(5) of FSMA.