(1) Paragraphs 19 to 23 (penalties and fees) and 25 (exemption from liability in damages) of Schedule 1ZA [Schedule 1ZA and the relevant paragraphs thereof were amended by Schedule 3 to the Financial Services Act 2012, section 109(1), paragraph 7(3) of Schedule 8(1) and paragraph 4 of Schedule 10 to the Financial Services (Banking Reform) Act 2013, S.I. 2013/1773, paragraphs 15 and 16 of Schedule 3 to the Pension Schemes Act 2015 (c.8) and section 29(6) of the Bank of England and Financial Services Act 2016 (c.14).] to the Act apply with respect to the discharge by the FCA of its functions under these Regulations as they apply with respect to the discharge by it of its functions under the Act, with the following modifications.

(2) Those paragraphs apply as if -

(a) each reference to penalties imposed under the Act included a reference to penalties imposed under Part 2 of these Regulations;

(b) each reference to a section or Part of the Act included a reference to that section or Part as applied by Part 2 of these Regulations; and

(c) each reference to the functions of the FCA included a reference to its functions under Part 2 of these Regulations.