18(1)Paragraph 9A is amended as follows.
(2)The existing provision becomes sub-paragraph (1).
(3)In that sub-paragraph, for “Authority” substitute “relevant regulator”.
(4)After that sub-paragraph insert—
“(2)In this paragraph the “relevant regulator” means—
(a)if the transferee is a PRA-authorised person, the PRA;
(b)in any other case, the FCA.”