SCHEDULES
SCHEDULE 4

EEA passport rights and treaty rights
PART 4

Amendments of Part 13 of FSMA 2000: Powers of intervention
36
For section 196 substitute—

The power of intervention
196
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.