http://www.legislation.gov.uk/ukpga/2012/21/section/16/2015-03-03Financial Services Act 2012An Act to amend the Bank of England Act 1998, the Financial Services and Markets Act 2000 and the Banking Act 2009; to make other provision about financial services and markets; to make provision about the exercise of certain statutory functions relating to building societies, friendly societies and other mutual societies; to amend section 785 of the Companies Act 2006; to make provision enabling the Director of Savings to provide services to other public bodies; and for connected purposes.texttext/xmlenStatute Law Database2026-04-20Expert Participation2015-03-03 Financial Services Act 2012ActWater Act 2014s. 79(4)s. 94(3)Financial Services Act 2012ActWater Act 2014s. 81(10)s. 94(3) PART 2 161FSMA 2000 is amended as follows.2In each of the provisions of Part 6 (official listing etc) mentioned in subsection (3)—afor “competent authority” or “competent authority's”, in each place, substitute “ FCA ” or “FCA's”, andbfor “the authority” or “the Authority”, in each place, substitute “ the FCA ”.3Those provisions are—asections 73A to 84;bsection 86;csections 87B to 87D;dsection 87G;esections 87J to 87O (including the italic heading before section 87J);fsections 87Q to 88;gsections 89A to 97 (including the italic heading before section 89H and the heading to that section);hsection 101(2);isection 103(1).4Before section 73A insert an italic heading “Rules”.5In section 77(3) (discontinuance and suspension of listing), for “sections 96 and 99” substitute “ section 96 and paragraph 23(6) of Schedule 1ZA ”.6In section 87A (criteria for approval of prospectus)—ain subsection (1), for “competent authority” substitute “ “FCA”,bin subsection (7)(a), for “competent authority”, in the first place, substitute “ FCA ”, andcin the heading, for “competent authority” substitute “ FCA ”.7In section 87E (transfer by competent authority of application for approval)—ain subsection (1), for “competent authority”, in the first place, substitute “ FCA ”,bin subsections (2) to (4), for “competent authority” substitute “ FCA ”, andcin the heading, for “competent authority” substitute “ FCA ”.8In section 87F (transfer to competent authority of application for approval)—ain subsection (1)—ifor “Where the competent authority” substitute “ Where the FCA ”, andiiin paragraph (b), for “competent authority” substitute “ FCA ”,bin subsection (2), for “competent authority” substitute “ FCA ”, andcin the heading, for “competent authority” substitute “ FCA ”.9In section 87H (prospectus approved in another EEA State)—ain subsection (1), for “competent authority”, in the second and third places, substitute “ FCA ”, andbin subsection (3A), for “competent authority” substitute “ FCA ”.10In section 87I (provision of information to host member State)—ain subsection (1)—ifor “competent authority”, in the first place, substitute “ FCA ”,iiin paragraph (b), for “competent authority” substitute “ FCA ”, andiiiin paragraph (c), omit “other”,bin subsection (1A), for “competent authority”, in the first place, substitute “ FCA ”, andcin subsections (3) to (5), for “competent authority” substitute “ FCA ”.11In section 87P (exercise of powers at request of competent authority of another EEA State)—ain subsection (1)(c), for “competent authority”, in the second place, substitute “ FCA ”, andbin subsection (2), for “competent authority” substitute “ FCA ”.12In section 100A (exercise of powers where UK is host member State)—ain subsections (1) and (2), for “competent authority” substitute “ FCA ”,bin subsection (3), for “the authority”, in both places, substitute “ the FCA ”,cin subsection (4), for “The authority” substitute “ The FCA ”, anddin subsections (5) and (6), for “the authority” substitute “ the FCA ”.13In Schedule 10 (compensation: exemptions), for “competent authority”, in each place, substitute “ FCA ”.14Omit the following provisions—asection 72 (Financial Services Authority to exercise functions of the competent authority under Part 6) and the italic heading before it;bsection 73 (general duty of the competent authority);csection 99 (fees);dsection 100 (penalties);ein section 101 (general provisions), subsections (1) and (3) to (8);fsection 102 (exemption from liability in damages);gin section 103 (interpretation), subsections (2) and (3);hin section 195 (exercise of power in support of overseas regulator), subsection (4)(b);iin section 410 (international obligations), subsection (4)(b);jin section 415 (jurisdiction in civil proceedings), subsection (1)(b);kSchedule 7 (modification of Act in its application to the Financial Services Authority when acting as competent authority for purposes of Part 6);lSchedule 8 (power to transfer functions under Part 6 to other persons).S. 16 in force at 24.1.2013 for specified purposes by S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3S. 16 in force at 1.4.2013 in so far as not already in force by S.I. 2013/423, art. 3, Sch.