Despite the repeal by regulation 25 of section 267 [Section 267 was amended by Schedule 18 to the Financial Services Act 2012.] of the 2000 Act, a direction given by the FCA under that section which has effect immediately before IP completion day continues to have effect on and after IP completion day if, by virtue of regulation 62, the stand-alone scheme or sub-fund to which the direction relates continues to be a recognised scheme on and after IP completion day.