(1) Article 35 (withdrawal or suspension of authorisation or registration) is amended as follows.

(2) In paragraph 1, for "A competent authority" substitute "The FCA".

(3) In paragraph 2 -

(a) omit the first subparagraph;

(b) in the second subparagraph -

(i) for "ESMA" substitute "The FCA";

(ii) for "register provided for in Article 36" substitute "FCA register".

(4) in paragraph 3 -

(i) for "delegated act adopted" substitute "2018 Delegated Regulation or regulations made by the Treasury";

(ii) for "relevant competent authority of the Member State where the administrator is located" substitute "FCA".

(5) After paragraph 4 insert -