SCHEDULES

SCHEDULE 4Extension of relevant authorised persons regime to all authorised persons

Consequential amendments of Financial Services (Banking Reform) Act 2013

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1

The Financial Services (Banking Reform) Act 2013 is amended as follows.

2

Omit section 18(4) (which inserts the subsections substituted or omitted by paragraph 2).

3

Omit section 20(3) (which inserts the subsection omitted by paragraph 4(4)).

4

Omit section 23(6) (which inserts the subsections omitted by paragraph 6(4)).

5

Omit section 33 (which inserts the section omitted by paragraph 18).

6

For section 37(8) (interpretation) substitute—

8

Senior management function” means—

a

a function of a description specified in rules made by the FCA under section 59(3)(a) or (b) of FSMA 2000 which is designated as a senior management function by the FCA under section 59(6A) of that Act;

b

a function of a description specified in rules made by the PRA under section 59(3)(a) of that Act.

7

Omit section 136(2)(a) (which inserts the words omitted by paragraph 21).