(1) The FCA may make such rules applying to credit rating agencies -

(a) with respect to the carrying on of a credit rating activity, or

(b) with respect to the carrying on of an activity which is not a credit rating activity,

as appear to the FCA to be necessary or expedient for the purpose of advancing one or more of its operational objectives under Part 1A of the Act.

(2) Rules under paragraph (1) may include, in particular -

(a) provision applying to credit rating agencies even though there is no relationship between the credit rating agencies to whom the rules will apply and the persons whose interests will be protected by the rules;

(b) requirements which take into account, in the case of a credit rating agency which is a member of a group, any activity of another member of the group.

(3) [deleted]