(1) The FCA may make rules relating to designated activities.
(2) The power under subsection (1) is only exercisable in so far as designated activity regulations provide for the FCA to make rules -
(a) relating to the designated activity, or
(b) relating to specified matters relating to designated activities.
(3) The FCA may by notice suspend any rules made under subsection (1) for such period as it considers appropriate.
(4) Rules under subsection (1) may include provision enabling requirements imposed by the rules to be dispensed with, or modified, in such cases or circumstances as may be determined by the FCA under the rules (subject to subsection (5)).
(5) The powers under subsection (3) and (4) are only exercisable in such circumstances as may be specified in designated activity regulations.
(6) Before suspending any rules in accordance with subsection (3), the FCA must consult the PRA.
(7) A notice under subsection (3) must be published by the FCA in the way appearing to the FCA
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