Schedule 4, Part 3 Amendments of sections 34 and 35 of FSMA 2000: EEA firms and Treaty firms (paras. 27-28)

Section 12.

27

(1) Section 34 of FSMA 2000 (EEA firms) is amended as follows.

(2) In subsection (2), for "the Authority" substitute "the appropriate regulator".

(3) After that subsection insert -

"(2A) In subsection (2) "the appropriate regulator" means -

(a) in the case of a PRA-authorised person, the PRA, and

(b) in any other case, the FCA."

(4) In subsection (3), for "Part IV permission" substitute "Part 4A permission".

28

(1) Section 35 of FSMA 2000 (Treaty firms) is amended as follows.

(2) In subsection (2), for "the Authority" substitute "the appropriate regulator".

(3) After that subsection insert -

"(2A) In subsection (2) "the appropriate regulator" means -

(a) in the case of a PRA-authorised person, the PRA, and

(b) in any other case, the FCA."

(4) In subsection (3), for "Part IV permission" substitute "Part 4A permission".