(1) Part 9 of FSMA 2000 (hearings and appeals) is amended as follows.

(2) In section 133 (proceedings before Tribunal: general provision) -

(a) in subsection (1)(a), for "the Authority" substitute "the FCA or the PRA",

(b) for subsections (5) and (6) substitute -

"(5) In the case of a disciplinary reference or a reference under section 393(11), the Tribunal -

(a) must determine what (if any) is the appropriate action for the decision -maker to take in relation to the matter; and

(b) on determining the reference, must remit the matter to the decision -maker with such directions (if any) as the Tribunal considers appropriate for giving effect to its determination.

(6) In any other case, the Tribunal must determine the reference or appeal by either -

(a) dismissing it; or