This section has no associated Explanatory Notes
8U.K.In section 63A (performance of controlled functions without approval: power to impose penalties)—
(a)for “Authority”, in each place, substitute “ appropriate regulator ”,
(b)after subsection (5) insert—
“(5A)The appropriate regulator”—
(a)in relation to a controlled function which is of a description specified in rules made by the FCA, means the FCA, and
(b)in relation to a controlled function which is of a description specified in rules made by the PRA, means the PRA.”, and
(c)in subsection (6), after “Any” insert “ other ”.
Commencement Information
I1Sch. 5 para. 8 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.