1 Part 5 of FSMA 2000 is amended as follows.
(1) Section 58 (applications relating to prohibition orders: procedure and right to refer to Tribunal) is amended as follows.
(2) In subsections (2) to (5), for "Authority" substitute "appropriate regulator".
(3) After subsection (5) insert -
"(6) The appropriate regulator" means the regulator to which the application is made."
3 In section 59 (approval for particular arrangements), omit subsection (9).
(1) Section 60 (applications for approval), for "Authority" or "Authority's", in each place, substitute "appropriate regulator" or "appropriate regulator's".
(2) For subsection (3) substitute -
"(3) At any time after the application is received and before it is determined, the appropriate regulator may require the applicant to provide it with such further information as it reasonably considers necessary to enable it to determine the application or, as the case requires, to decide whether to give consent."
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