[F1196 The power of intervention.U.K.
(1)If a regulator is entitled to exercise its power of intervention in respect of an incoming firm under this Part, it may impose any requirement in relation to the firm which that regulator could impose if—
(a)the firm's permission was a Part 4A permission; and
(b)the regulator was entitled to exercise its power under section 55L(3) or 55M(3).
(2)The FCA must consult the PRA before exercising its powers by virtue of this section in relation to—
(a)a PRA-authorised person, or
(b)a member of a group which includes a PRA-authorised person.
(3)The PRA must consult the FCA before exercising its powers by virtue of this section.]
Textual Amendments
F1S. 196 substituted (27.2.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 4 para. 36 (with Sch. 20); S.I. 2013/423, arts. 2, 3, Sch.