15(1)Section 415B of FSMA 2000 (consultation in relation to taking certain enforcement action) is amended as follows.U.K.
(2)In subsection (4)—
(a)in paragraph (b), for “significant-influence” substitute “ relevant senior management ”, and
(b)omit the definitions appearing after that paragraph.
(3)After subsection (4) insert—
“(5)In subsection (4)—
“arrangement” has the same meaning as in section 59;
“relevant senior management function” means a function which the FCA is satisfied is a senior management function as defined in section 59ZA (whether or not it has been designated as such under section 59(6A) or (6B)).”
Commencement Information
I1Sch. 3 para. 15 in force at 7.3.2016 by S.I. 2015/490, art. 2(1)(b) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))