SCHEDULES
SCHEDULE 4

EEA passport rights and treaty rights
PART 4

Amendments of Part 13 of FSMA 2000: Powers of intervention
32
1
Section 194 (general grounds on which power of intervention is exercisable) is amended as follows.
2
In subsection (1)—
a
for “Authority”, in each place, substitute “appropriate regulator”,
b
in paragraph (c), for the words from “meet” to the end substitute
advance—
i
in the case of the FCA, one or more of its operational objectives, and
ii
in the case of the PRA, any of its objectives.
3
After subsection (1A) insert—
1B
The appropriate regulator” means—
a
where the incoming firm is a PRA-authorised person, the FCA or the PRA;
b
in any other case, the FCA.
4
In subsection (3), for “Authority”, in each place, substitute “FCA”.