(1) Article 4 is amended as follows.

(2) In paragraph 1 -

(a) in point (a) -

(i) in points (i) and (iii), for "meet the conditions" substitute "are subject to the conditions";

(ii) in points (ii) and (iv), for "meets the conditions" wherever it appears substitute "is subject to the conditions";

(iii) in points (iv) and (v), for "Union" wherever it appears substitute "United Kingdom";

(b) [deleted]

(3) In paragraph 2, in the second-paragraph -

(a) in point (a) -

(i) for "Union" substitute "United Kingdom";

(ii) for "their respective competent authorities" substitute "the FCA";

(iii) for "the competent authorities" both times it appears substitute "the FCA";

(iv) omit from "If there is disagreement between" to the end;

(b) in point (b) -