(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