(1) FSMA 2000 is amended as follows.
(2) In the italic heading before section 415B, at the end insert "and co-operation".
(3) After section 415B (consultation) insert -
"415C Co-operation and consultation in relation to exercise of functions
(1) In exercising its functions under this Act a relevant organisation ("R") must -
(a) take such steps as R considers appropriate to co-operate with each of the other relevant organisations in relation to matters of interest to that organisation, and
(b) consult such other persons as R considers appropriate in relation to any matters that R considers to be of interest to those persons.
(2) A matter is of interest to another relevant organisation for the purposes of subsection (1) if it appears to R that it has, or is likely to have, significant implications in relation to -
(a) the exercise by that other relevant organisation of functions under this Act, or
(b) the functioning generally of relevant markets within the meaning of section 1F.
(3) The
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