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6. If the Board is satisfied that it is necessary to do so for the purpose of implementing the Capital Adequacy Directive so far as relating to any particular firm which is a European investment firm and an authorised person, the Board may, on the application or with the consent of the firm, by order direct that all or any of the provisions of rules under section 49 of the Financial Services Act(1) (financial resources rules)—
(a)shall not apply to the firm; or
(b)shall apply to it with such modifications as may be specified in the order.
Section 49 has been amended by section 206 of, and Schedule 23 to, the Companies Act 1989 (c. 40).
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