Financial Services Act 2012

This section has no associated Explanatory Notes

7(1)Section 290A (refusal of recognition on ground of excessive regulatory provision) is amended as follows.

(2)In subsection (1)—

(a)for “The Authority must” substitute “The appropriate regulator must”,

(b)for “the Authority that” substitute “it that”,

(c)omit the “or” following paragraph (a), and

(d)at the end of paragraph (b) insert or

(c)the provision by the applicant of services falling within section 285(2)(b) or (3)(b),.

(3)In subsection (3), for “Authority” substitute “appropriate regulator”.