(1) This regulation applies where the FCA reasonably considers that a report by a skilled person, concerning a matter relating to the exercise of the FCA's functions under these Regulations, is required in connection with the exercise by the FCA of any of its functions under these Regulations.
(a) by notice in writing to the self-regulatory organisation, require the self-regulatory organisation to appoint a skilled person to provide the FCA with a report on the matter concerned, or
(b) itself appoint a skilled person to do so.
(3) When acting under paragraph (2)(a), the FCA may require -
(a) the report to be in such form as may be specified in the notice; and
(b) that the contract between the skilled person and the self-regulatory organisation contain certain terms that the FCA considers appropriate.
(4) The FCA must give notice in writing of an appointment under paragraph (2)(b) to the self-regulatory organisation.
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