(1) The Treasury may by regulations modify legislation referred to in Schedule 1 in relation to the transitional period.
(2) The power under subsection (1) is exercisable only by making such modifications as the Treasury consider necessary or desirable for or in connection with one or more of the following purposes -
(a) protecting and enhancing the integrity or stability of the financial system operating in the United Kingdom;
(b) promoting the safety and soundness of persons providing financial services;
(c) promoting effectiveness in the functioning of financial markets;
(d) promoting effective competition in the interests of consumers in financial services and markets or persons who use, or are likely to use, services provided by payment systems in the course of business carried on by those persons;
(e) facilitating the international competitiveness of the economy of the United Kingdom and its growth in the medium to long term;
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