1. Any power to make regulations conferred on the Treasury by this Regulation is exercisable by statutory instrument.

2. Such regulations may -

(a) make incidental, supplemental, consequential or transitional provision; and

(b) make different provision for different purposes.

3. Unless paragraph 5 applies, a statutory instrument containing regulations made under this Regulation is subject to annulment in pursuance of a resolution of either House of Parliament.

4. No regulations to which paragraph 5 applies may be made unless -

(a) a draft of the instrument containing them has been laid before Parliament and approved by a resolution of each House; or

(b) paragraph 6 applies.

5. This paragraph applies to any regulations made for the purposes set out in paragraphs 2 and 3 of Schedule 3 which contain a statement by the Treasury that, in their opinion, the effect (or one of the effects) of the proposed regulations would be that an activity which is not a regulated activity for the purposes of FSMA would become a regulated activity.