SCHEDULE 8Sections 28 to 34: minor and consequential amendments
14
(1)
Section 296 (power to give directions) is amended as follows.
(2)
In subsection (1), for “the Authority” substitute “
the appropriate regulator
”
.
(3)
In subsection (1A)—
(a)
for the words from “in the case of a recognised body which is a recognised investment” to “the body” substitute “
if it appears to the appropriate regulator that a recognised body
”
, and
(b)
for the words from “directly applicable” to the end substitute “
directly applicable EU regulation specified (or of a description specified) in an order made by the Treasury
”
.
(4)
In subsection (2), for “The Authority” substitute “
The regulator concerned
”
.
(5)
In subsection (2A)—
(a)
in the opening words, for “a recognised investment exchange other than an overseas investment exchange” substitute “
a recognised body other than an overseas investment exchange or overseas clearing house
”
,
(b)
in paragraph (a)—
(i)
for “the Authority”, in both places, substitute “
the regulator concerned
”
, and
(ii)
for “the exchange” substitute “
the body
”
, and
(c)
in paragraph (b), for “the exchange” substitute “
the body
”
.
(6)
In subsection (3), for “the Authority” substitute “
the regulator concerned
”
.
(7)
In subsection (4), for “the Authority” substitute “
an appropriate regulator
”
.
(8)
In the heading, for “Authority's” substitute “Appropriate regulator's”.