http://www.legislation.gov.uk/ukpga/2023/29/section/5Financial Services and Markets Act 2023enStatute Law Database2026-04-08Expert Participation2026-04-06 PART 1CHAPTER 151The Treasury may by regulations modify legislation for or in connection with the purpose of replacing any reference (however expressed) to an EU directive referred to in Part 3 of Schedule 1 with such other provision (if any) as the Treasury consider appropriate.2The power under subsection (1) is exercisable only if the Treasury consider it necessary or desirable to replace the reference for or in connection with—athe purpose of making the law clearer or more accessible, orbany of the purposes mentioned in section 3(2).3Regulations under this section are subject to the affirmative procedure if they amend primary legislation.4Regulations under this section to which subsection (3) does not apply are subject to the negative procedure.S. 5 not in force at Royal Assent, see s. 86(3)S. 5 in force at 29.8.2023 by S.I. 2023/779, reg. 4(c)Word in Sch. 1 Pt. 1 heading substituted (1.1.2024) by The Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendment) Regulations 2023 (S.I. 2023/1424), reg. 1(2), Sch. para. 107(10)(b)