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19(1)If an alteration is made of the regulatory arrangements of an approved regulator, the alteration does not have effect unless it is approved for the purposes of this Act.
(2)An alteration is approved for the purposes of this Act if—
(a)it is approved by virtue of paragraph 18 (approval of proposed regulatory arrangements on designation by order as approved regulator),
(b)it is approved by the Board under this Part of this Schedule,
(c)it is an exempt alteration,
(d)it is an alteration made in compliance with a direction under section 32,
(e)it is approved by virtue of paragraph 16 of Schedule 10 (approval of licensing rules on designation by order as licensing authority), or
(f)it is approved by virtue of paragraph 7 of Schedule 18 (approval of proposed regulatory arrangements when granting “qualifying regulator” status for the purposes of Part 5 of the Immigration and Asylum Act 1999 (c. 33)).
(3)An exempt alteration is an alteration which the Board has directed is to be treated as exempt for the purposes of this paragraph.
(4)A direction under sub-paragraph (3) may be specific or general and must be published by the Board.
(5)In this Part of this Schedule, references to an “alteration” of regulatory arrangements include an addition to, or the revocation of any part of, the arrangements.
(6)If a question arises whether approval is required by virtue of this Part of this Schedule, it is for the Board to decide.
(7)Nothing in this Part of this Schedule applies in relation to any alteration of the regulatory arrangements of the Board in its capacity as an approved regulator (or of its licensing rules).
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