PART 4 Power for the regulators to specify equivalent functions and make provision about approvals

17 Power for the regulators to specify equivalent functions
1 Either or both of the regulators may make rules—
(a) specifying post-implementation controlled functions (each an “equivalent function”) that are to be treated (alone or with one or more other post-implementation controlled functions) as equivalent to a pre-implementation controlled function for the purposes of this Order;
(b) providing which post-implementation controlled functions an approval or application is to be treated as relating to in the event that—
(i) a person would otherwise as a result of article 4 be treated as having approval in relation to a relevant authorised person to perform the designated senior management functions described in paragraph (2); or
(ii) an application would otherwise as a result of article 12 be treated as an application for approval in relation to a relevant authorised person to perform the designated senior management functions described in paragraph (2).
2 The designated senior management functions described in this paragraph are—
(a) two or more designated senior management functions of a description specified by the same regulator, or
(b) one or more designated senior management functions of a description specified by the PRA and one or more designated senior management functions of a description specified by the FCA.