(1) If it appears to the appropriate regulator to be necessary or expedient for the purposes of advancing a relevant objective, the appropriate regulator may make rules about the conduct of the following persons in relation to the performance by them of qualifying functions -
(a) persons in relation to whom the appropriate regulator has given its approval under section 309G ("Part 18 approved persons");
(b) directors of relevant recognised bodies;
(c) employees of relevant recognised bodies.
(2) Rules under subsection (1) may include provision requiring a relevant recognised body to -
(a) notify persons mentioned in subsection (1) of the rules that apply to them;
(b) take specified steps to secure that such persons understand how those rules apply in relation to them.
(3) Rules under subsection (1) may include provision requiring a relevant recognised body to notify the appropriate regulator if the body takes specified disciplinary action in relation to a person mentioned in subsection
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