PART 3

Mutual societies

Transfer of functions

Power to apply or disapply provision made by or under FSMA 2000
52
1
The Treasury may by order provide—
a
for any relevant provision that would not otherwise apply in relation to transferred functions to apply in relation to those functions with such modifications as may be specified;
b
for any relevant provision that would otherwise apply in relation to transferred functions not to apply in relation to them or to apply with such modifications as may be specified.
2
“Relevant provision” means a provision of, or made under, FSMA 2000.
3
“Transferred function” means a function that has been or is being transferred by an order under section 50; and section 51(3) applies for the purpose of this subsection.