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The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013

Type Statutory-Instrument

Publication 2013-03-07

Last updated 2025-01-14

State In force

Department King's Printer of Acts of Parliament

Source legislation.gov.uk

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articles 4

Reform history JSON API

In the Financial Services and Markets Act 2000 (Own-initiative Power) (Overseas Regulators) Regulations 2001[^f00101]—

(a) in regulation 2(1) (overseas regulators), for “47(1)(b)” substitute “55Q(1)”;

(b) in regulation 2(2)(a), for “Authority” substitute “FCA, the PRA or the Bank of England”;

(d) in regulation 3 (duty to consider EU obligation)—

(i) in paragraph (1), for “47(3)(b)” substitute “55Q(4)(a)”;

(ii) in paragraph (3), for “47(3)(c)” substitute “55Q(4)(b)”.

The Financial Services and Markets Act 2000 (Official Listing of Securities) Regulations 2001

55

In the Financial Services and Markets Act 2000 (Official Listing of Securities) Regulations 2001[^f00102]—

(a) in regulation 2(1) (interpretation), omit the definition of “competent authority”;

(b) in regulations 6(1)(b) and 7(2)(b)(i), for “competent authority” substitute “FCA”.

The Financial Services and Markets Act 2000 (Transitional Provisions, Repeals and Savings) (Financial Services Compensation Scheme) Order 2001

56

In the Financial Services and Markets Act 2000 (Transitional Provisions, Repeals and Savings) (Financial Services Compensation Scheme) Order 2001[^f00103]—

(a) in article 6 (post-commencement applications), for “Authority” in both places substitute “FCA”;

(b) in article 8 (insolvency of relevant defaulter–post-commencement applications), for “Authority” substitute “FCA”;

(i) in paragraph (1)(d), for “Authority” substitute “FCA or the PRA”;

(ii) in paragraph (3) for “The Authority must by rules make such modifications to the FSPS as it considers” substitute “The FCA and PRA must ensure that, by rules made by one of them (or a combination of rules made by both of them), such modifications to the FSPS are made as they consider”;

(iii) in paragraph (4), for “Authority” substitute “FCA and the PRA”;

(iv) after paragraph (7) insert—

(8) For the purposes of section 213(1A) of the Act and any subordinate legislation made under it, rules made by the PRA under paragraph (3) are to be treated as relating to cases where relevant persons are unable, or likely to be unable, to satisfy claims against them under a contract of insurance.

(d) in article 9A (contributions in relation to mesothelioma claims)[^f00104]—

(i) for “Authority” in each place it appears substitute “PRA”;

(ii) after paragraph (8) insert—

(9) For the purposes of section 213(1A) of the Act and any subordinate legislation made under it, rules made by the PRA under paragraph (3) are to be treated as relating to cases where relevant persons are unable, or likely to be unable, to satisfy claims against them under a contract of insurance.

(e) in article 10 (applications in respect of compulsory liability insurance)—

(i) for “Authority” in each place it appears substitute “PRA”;

(ii) after paragraph (3) insert—

(4) For the purposes of section 213(1A) of the Act and any subordinate legislation made under it, rules made by the PRA under paragraph (2) are to be treated as relating to cases where relevant persons are unable, or likely to be unable, to satisfy claims against them under a contract of insurance.

(f) in article 12 (applications under the new scheme)—

(i) for “Authority” in each place it appears substitute “PRA”;

(ii) after paragraph (5) insert—

(6) For the purposes of section 213(1A) of the Act and any subordinate legislation made under it, rules made by the PRA under paragraph (3) are to be treated as relating to cases where relevant persons are unable, or likely to be unable, to satisfy claims against them for a deposit (within the meaning of the meaning of article 5 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001[^f00105]) or under a contract of insurance.

(g) in article 23 (record keeping and reporting requirements relating to pre-commencement acts), for “Authority” substitute “FCA and the PRA”;

(h) in Schedule 1 (modification and saving of enactments) in Part 1—

(i) in the modifications to Part 2 of the Banking Act 1987[^f00106], for “Authority” substitute “Prudential Regulation Authority”;

(ii) in the modifications to Part 4 of the Building Societies Act 1986[^f00107] and the Credit Institutions (Protection of Depositors) Regulations 1995[^f00108], for “Financial Services Authority” substitute “Prudential Regulation Authority”.

The Financial Services and Markets Act 2000 (Transitional Provisions and Savings) (Civil Remedies, Discipline, Criminal Offences etc.) (No. 2) Order 2001

57

In the Financial Services and Markets Act 2000 (Transitional Provisions and Savings) (Civil Remedies, Discipline, Criminal Offences etc.) (No. 2) Order 2001[^f00109]—

(a) in article 2 (remedial injunctions and restitution orders in respect of pre-commencement conduct), for “Authority” in each place it appears, substitute “FCA or the PRA”;

(b) in article 3 (restitution by the Authority)—

(i) in paragraph (1)(b) for “The Authority”, substitute “The FCA or the PRA”;

(ii) in each other place, for “the Authority” or “The Authority” substitute “that regulator” or “That regulator” as appropriate;

(iii) in the heading, for “the Authority” substitute “the FCA or the PRA”;

(d) in article 6 (public statements in respect of pre-commencement contraventions of the Financial Services Act)—

(i) for “Authority” in the first place it appears in paragraphs (1) and (2) and in paragraph (3) substitute “FCA or the PRA”;

(ii) for “Authority” in the second place it appears in paragraphs (1) and (2) substitute “Financial Services Authority”;

(e) in each of article 7 (public statements in respect of pre-commencement contraventions of the rules of self-regulating organisations), article 8 (imposition of penalties in respect of pre-commencement contraventions of the rules of self-regulating organisations), article 9 (disciplinary powers in relation to persons registered with self-regulating organisations), article 16 (reports by skilled persons), article 17 (appointment of persons to carry out general investigations), each of paragraph (1) and paragraph (3) of article 18 (appointment of persons to carry out investigations in particular cases) and article 21 (information from former recognised professional bodies)—

(i) for “the Authority” in the first place those words appear substitute “the FCA or the PRA”;

(ii) for “the Authority” in each other place those words appear substitute “that regulator”;

(f) in article 10 (saving of sections 19 and 20 of the Banking Act) and article 11 (saving of sections 43A and 43B of the Building Societies Act), for “Authority” in each place it appears substitute “FCA or the PRA”;

(g) in article 15 (power to require information)—

(i) for “Authority’s” substitute “regulator’s’”;

(ii) for “the Authority” in the first and second place those words appear substitute “the FCA or the PRA”;

(iii) for “the Authority” in each other place those words appear substitute “that regulator”.

The Financial Services and Markets Act 2000 (Gibraltar) Order 2001

58

In article 2 of the Financial Services and Markets Act 2000 (Gibraltar) Order 2001[^f00110] (exercise of deemed passport rights by Gibraltar-based firms)—

(a) in paragraph (7), for “Authority” substitute “FCA or PRA”;

(b) for paragraph (8) substitute—

(8) For the purposes of paragraph (7)— (a) section 194A(7)[^f00111] has effect as if “and the Commission” were omitted; (b) section 195A(11)[^f00112] is disapplied.

The Financial Services and Markets Act 2000 (Collective Investment Schemes Constituted in Other EEA States) Regulations 2001

59

In regulations 4 and 5 of the Financial Services and Markets Act 2000 (Collective Investment Schemes Constituted in Other EEA States) Regulations 2001[^f00113], for “Authority” substitute “FCA”.

The Financial Services and Markets Act 2000 (Consultation with Competent Authorities) Regulations 2001

60

In the Financial Services and Markets Act 2000 (Consultation with Competent Authorities) Regulations 2001[^f00114]—

(a) in regulation 2, after the definition of “the Act”, insert—

“appropriate regulator” has the meaning given in Part 12 of the Act;

(b) for “Authority” in each place it appears, substitute “appropriate regulator”.

The Bankruptcy (Financial Services and Markets Act 2000) (Scotland) Rules 2001

61

In the Bankruptcy (Financial Services and Markets Act 2000) (Scotland) Rules 2001[^f00115]—

(a) in rule 2 (interpretation), after the definition of “individual” insert—

“the regulator” in relation to an individual means— if the individual is a PRA-authorised person, or was carrying on a PRA-regulated activity in contravention of the general prohibition, the FCA or the PRA, in any other case, the FCA, and terms used in this definition which are defined in the Act have the meaning given in the Act.

(b) in rule 3 (form of demand)—

(i) in paragraphs (a) and (e), for “Authority’s” substitute “regulator’s”;

(ii) in paragraph (f)(i), for “Authority” substitute “regulator”;

The Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) Regulations 2001

62

In the Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) Regulations 2001[^f00116]—

(a) in regulations 3(3)(a), 4(1)(b), 5(3)(a) and 6(1)(b), for the reference to “the Authority” substitute “the appropriate regulator”[^f00117];

(b) in regulation 3(5), for “the Authority” substitute “the appropriate regulator and, if the FCA is not the appropriate regulator, the FCA”;

(c) in regulation 3(6), for “the Authority” substitute “the appropriate regulator and, if the FCA is not the appropriate regulator, the FCA”;

(d) in regulation 5(5), for “the Authority” substitute “the appropriate regulator and, if the FCA is not the appropriate regulator, the FCA”.

Transitional provisions in relation to the Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) Regulations 2001

63

For the purposes of the Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) Regulations 2001, where the PRA is the appropriate regulator within the meaning of Part 7 of the Financial Services and Markets Act 2000—

(a) any approval of any notice given before 1st April 2013 by the Financial Services Authority under regulations 3 or 5 of those regulations is to be treated as approval given by the Prudential Regulation Authority;

(b) any document given before 1st April 2013 to the Financial Services Authority is to be treated as having been given to the Prudential Regulation Authority.

The Financial Services and Markets Act 2000 (Control of Transfers of Business Done at Lloyd’s) Order 2001

64

In article 4(c) of the Financial Services and Markets Act 2000 (Control of Transfers of Business Done at Lloyd’s) Order 2001[^f00118], for “Authority” substitute “PRA”.

Transitional provision in relation to the Financial Services and Markets Act 2000 (Control of Transfers of Business Done at Lloyd’s) Order 2001

65

For the purposes of article 4(c) of the Financial Services and Markets Act 2000 (Control of Transfers of Business Done at Lloyd’s) Order 2001, any document given before 1st April 2013 to the Financial Services Authority is to be treated as having also been given to the Prudential Regulation Authority.

The Financial Services and Markets Tribunal (Legal Assistance) Regulations 2001

66

In regulation 2 of the Financial Services and Markets Tribunal (Legal Assistance) Regulations 2001[^f00119] in the definition of “the Authority”, for “Financial Services Authority” substitute “Financial Conduct Authority”.

The Financial Services and Markets Tribunal (Legal Assistance Scheme—Costs) Regulations 2001

67

In regulation 2 of the Financial Services and Markets Tribunal (Legal Assistance Scheme—Costs) Regulations 2001[^f00120], in the definition of “the Authority”, for “Financial Services Authority” substitute “Financial Conduct Authority”.

The Bankruptcy (Financial Services and Markets Act 2000) Rules 2001

68

In rule 2 of the Bankruptcy (Financial Services and Markets Act 2000) Rules 2001[^f00121], for the definition of “the Authority” substitute—

“the Authority” in relation to an individual means— if the individual is a PRA-authorised person or was carrying on a PRA-regulated activity in contravention of the general prohibition, the FCA or the PRA, in any other case, the FCA, and terms used in this definition which are defined in the Act have the meaning given in the Act;

The Insurers (Winding Up) Rules 2001

69

In rule 2 of the Insurers (Winding Up) Rules 2001[^f00122] (interpretation), in the definition of “the Authority”, for “Financial Services Authority” substitute “Financial Conduct Authority or the Prudential Regulation Authority”.

The Financial Services and Markets Act 2000 (Miscellaneous Provisions) Order 2001

70

In the Financial Services and Markets Act 2000 (Miscellaneous Provisions) Order 2001[^f00123]—

(a) in article 18 (duty of auditors to communicate matters to the Authority) for “the Authority”—

(i) in the first place those words appear in paragraph (3), substitute “the FCA or, if the person concerned is or was a PRA-authorised person, or would have been a PRA-authorised person if the person was an authorised person on 1st April 2013, the PRA”;

(ii) in the second place those words appear in paragraph (3), substitute “that regulator”;

(iii) in the heading, substitute “the regulator”;

(b) in article 22 (transfer of liabilities), for “Authority” substitute “FCA”;

(i) in paragraph (5), for “Authority” substitute “FCA”;

(ii) in paragraph (6)—

(aa) for “Authority’s functions for the purposes of paragraph 19 of Schedule 1” substitute “FCA’s functions for the purposes of paragraph 25 of Schedule 1ZA and the PRA’s functions for the purposes of paragraph 33 of Schedule 1ZB”;

(bb) for “the Authority” substitute “that regulator”;

(d) for article 25 substitute—

(25) (1) For the purposes of paragraph 23 of Schedule 1ZA (fees) the functions of the FCA specified by paragraph (3) are to be treated as functions of the FCA under the Act. (2) For the purposes of paragraph 31 of Schedule 1ZB (fees) the functions of the PRA specified by paragraph (3) are to be treated as functions of the PRA under the Act. (3) The functions are the functions of the relevant regulator— (a) under the Financial Services Act (other than Part IV of that Act); (b) under the Banking Act; (c) under the 2BCD Regulations; (d) under the ISD Regulations; (e) as a result of any saving made by or under the Act from the effect of any repeal or revocation so made. (4) For the purposes of paragraph 23 of Schedule 1ZA expenditure incurred in meeting a liability— (a) transferred to the FCA by virtue of paragraph (1) of article 22 or of article 21, or (b) arising from the exercise by the FCA of its functions as the competent authority under Part 4 of the Financial Services Act, is to be treated as having been incurred in connection with the discharge by the FCA of functions under the Act.

(e) in article 28 (the Contracting Out Order)—

(i) in paragraph (2), for “the Authority” substitute “the Financial Services Authority”;

(ii) after paragraph (2) insert—

(2A) On 1st April 2013 the rights, obligations and liabilities of the Financial Services Authority under any such contract transfer to— (a) the PRA, to the extent that the right, obligation or liability relates to a matter relevant to prudential regulation, (b) in any other case, the FCA. (2B) Any obligation of the FCA under such a contract which continues to have effect after 1st April 2013 is to be treated as a function conferred on the FCA by or under a provision of the Act for the purposes of Schedule 1ZA. (2C) Any obligation of the PRA under such a contract which continues to have effect after 1st April 2013 is to be treated as a function conferred on the PRA by or under a provision of the Act for the purposes of Schedule 1ZB.

(iii) omit paragraph (3);

(iv) in paragraph (4), for “Authority” substitute “FCA or the PRA”;

(v) in paragraph (5), for “Authority”—

(aa) in the first place it appears substitute “Financial Services Authority”;

(bb) in the second place it appears substitute “Financial Services Authority, FCA or PRA”.

The Friendly Societies Act 1974 (Seal of the Financial Services Authority) Regulations 2001

71

In the Friendly Societies Act 1974 (Seal of the Financial Services Authority) Regulations 2001[^f00124], for “Financial Services Authority”, in each place, substitute “Financial Conduct Authority”.

Transitional provision in relation to the Friendly Societies Act 1974 (Seal of the Financial Services Authority) Regulations 2001

72

A document sealed in accordance with the Friendly Societies Act 1974 (Seal of the Financial Services Authority) Regulations 2001 as they applied before 1st April 2013 is to be treated, where appropriate, as sealed in accordance with those Regulations as they applied on that date.

The Uncertificated Securities Regulations 2001

73

In the Uncertificated Securities Regulations 2001[^f00125]—

(a) in regulation 3(1) (interpretation), omit the definition of “the Authority”;

(b) in regulation 9(injunctions and restitution orders)—

(i) in paragraph (7), for “the Authority” substitute “the appropriate regulator”,

(ii) after paragraph (12) insert—

(13) In this regulation, the “appropriate regulator” means whichever of the Prudential Regulation Authority or the Financial Conduct Authority is the appropriate regulator under section 382[^f00126] of the 2000 Act.

(c) in paragraph 28(4) of Schedule 1 (requirements for approval of a person as operator: access to central counterparty, clearing and settlement facilities) for the definition of “UK firm” substitute—

“UK firm” means an investment firm or credit institution which has a permission given (or having effect as if given) by the Financial Conduct Authority or the Prudential Regulation Authority under Part 4A of the 2000 Act to carry on one or more regulated activities.

The Insurers (Winding Up) (Scotland) Rules 2001

74

In rule 2 of the Insurers (Winding Up) (Scotland) Rules 2001[^f00127], in the definition of “the Authority”, for “Financial Services Authority” substitute “Financial Conduct Authority or the Prudential Regulation Authority”.

The Welsh Language Schemes (Public Bodies) Order 2002

75

In the table in the Schedule to the Welsh Language Schemes (Public Bodies) Order 2002[^f00128]—

(a) for “Financial Services Authority” substitute “Prudential Regulation Authority”,

(b) for “Awdurdod Gwasanaethau Ariannol” substitute “Awdurdod Rheoleiddio Darbodus”,

Awdurdod Ymddygiad Ariannol	Financial Conduct Authority

The Financial Services and Markets Act 2000 (Consequential Amendments and Transitional Provisions) (Credit Unions) Order 2002

76

In the Financial Services and Markets Act 2000 (Consequential Amendments and Transitional Provisions) (Credit Unions) Order 2002[^f00129]—

(a) in article 1(2), after the definition of “the Act” insert—

“the Authority” means the Financial Services Authority;

(b) omit article 4 (application of definition of “consumer” to customers of credit unions before commencement);

(i) in paragraph (1), for “section 154” substitute “section 138H”;

(ii) in paragraph (2), for “the Authority’s staff” substitute “staff of the Financial Services Authority, the Financial Conduct Authority or the Prudential Regulation Authority”;

(iii) in paragraph (6) for “Authority” substitute “Financial Conduct Authority or the Prudential Regulation Authority”;

(d) in article 14 (guidance on continued provisions)—

(i) for “Authority” in each place substitute “FCA”;

(ii) for “section 157(3)” substitute “section 139A(5)”;

(iii) for “section 2” substitute “section 1B”;

(e) in article 16 (cost benefit analyses), for “Authority” in each place substitute “FCA”.

The Electronic Commerce Directive (Financial Services and Markets) Regulations 2002

77

(1) The Electronic Commerce Directive (Financial Services and Markets) Regulations 2002[^f00130] are amended as follows.

(2) In regulation 2 (interpretation), in the definition of “the Authority” for “Financial Services Authority” substitute “Financial Conduct Authority”.

(3) In the heading to Part 2, for “Financial Services Authority” substitute “Financial Conduct Authority”.

(4) In regulation 3 (consumer contract requirements: modification of rule-making powers)—

(a) in paragraph (1), for “section 138” substitute “section 137A”;

(b) in paragraph (2)(a), for “138(4), (5) and (7) to (9), 148, 150 and 156” substitute “137A(3) and (4), 137T, 138A and 138D”;

(d) in paragraphs (4), (4A) and (7), for “the Authority under section 138” substitute “the Authority under section 137A”.

(5) In regulation 6(4) (direction)—

(a) for “in subsection (3) of section 48” substitute “in subsection (4) of section 55P”;

(b) for “section 45” substitute “section 55L”.

(6) In regulation 7 (policy conditions), in paragraph (a)(i)(cc) for “regulatory objectives set out in Part 1 of the 2000 Act” substitute “Authority’s operational objectives (as specified by section 1B(3) of the 2000 Act)”.

(7) In regulation 12 (application of certain provisions of the 2000 Act)—

(a) in paragraph (2)—

(i) for “sections 380,” substitute “sections 1L, 380,”;

(ii) omit “, paragraph (6) of Schedule 1[^f00131] to,”;

(b) in paragraph (4), for “sections 132 and 133” substitute “sections 133 and 133A”.

The Financial Services and Markets Act 2000 (Fourth Motor Insurance Directive) Regulations 2002

78

In regulation 2 of the Financial Services and Markets Act 2000 (Fourth Motor Insurance Directive) Regulations 2002[^f00132] (power of the Authority to make rules under section 138 of the Financial Services and Markets Act 2000)—

(a) for the heading substitute “Power of the Financial Conduct Authority to make rules under section 137A of the Financial Services and Markets Act 2000”;

(b) in paragraph (1), for “the Authority under section 138 of the Financial Services and Markets Act 2000 (“the 2000 Act”) (general rule-making power)” substitute “the Financial Conduct Authority under section 137A of the Financial Services and Markets Act 2000 (“the 2000 Act”) (The FCA’s general rules)”.

The Insolvency (Northern Ireland) Order 2002

79

In the Insolvency (Northern Ireland) Order 2002[^f00133], in article 2(3) (interpretation) for “the Financial Services Authority” substitute “the Financial Conduct Authority and the Prudential Regulation Authority”.

The Proceeds of Crime Act 2002 (Disclosure of Information to and by Lord Advocate and Scottish Ministers) Order 2003

80

In article 3(b) of the Proceeds of Crime Act 2002 (Disclosure of Information to and by Lord Advocate and Scottish Ministers) Order 2003[^f00134], for “Financial Services Authority” substitute “Financial Conduct Authority, the Prudential Regulation Authority or the Bank of England”.

The Energy (Northern Ireland) Order 2003

81

In article 63 of the Energy (Northern Ireland) Order 2003[^f00135] (general restrictions on disclosure of information)—

(a) in paragraph (5)(j) for “Financial Services Authority.” substitute “Financial Conduct Authority;”;

(b) after paragraph (5)(j) insert—

(k) the Prudential Regulation Authority.

The Financial Services and Markets Act 2000 (Communications by Actuaries) Regulations 2003

82

(1) The Financial Services and Markets Act 2000 (Communications by Actuaries) Regulations 2003[^f00136] are amended as follows.

(2) In regulation 1(2) (interpretation), in the definition of “relevant requirement”, for “Authority” substitute “FCA or the PRA”.

(3) In regulation 2 (circumstances in which an actuary is to communicate), for “the Authority”—

(a) in paragraph 1(a), substitute “the FCA or, as the case may be, the PRA”;

(b) in paragraphs (2) and (3), substitute “the FCA or, as the case may be, the PRA”;

(i) in sub-paragraph (a)—

(aa) in the first place it appears, substitute “the FCA or the PRA”;

(bb) in the second place it appears, substitute “that regulator”;

(ii) in sub-paragraph (b), substitute “the FCA or the PRA”.

Transitional provision in relation to the Financial Services and Markets Act 2000 (Communications by Actuaries) Regulations 2003

83

For the purposes of the Financial Services and Markets Act 2000 (Communications by Actuaries) Regulations 2003 any obligation under regulation 2 of those Regulations to supply information or an opinion to the Prudential Regulation Authority is to be treated as satisfied if the information or opinion was provided before 1st April 2013 to the Financial Services Authority.

The Enterprise Act 2002 (Part 8 Community Infringements Specified UK Laws) Order 2003

84

In the Schedule to the Enterprise Act 2002 (Part 8 Community Infringements Specified UK Laws) Order 2003[^f00137], in the second column in the entry beginning “Financial Services (Distance Marketing) Regulations 2004”, for “Financial Services Authority” substitute “Financial Conduct Authority”.

The Land Registration Rules 2003

85

In Schedule 5 to the Land Registration Rules 2003[^f00138]—

(a) omit the entry beginning “Director of Enforcement at the Financial Services Authority”,

(b) at the appropriate place insert the following entries—

A Head of Department in the Enforcement and Financial Crime Division of the Financial Conduct Authority or a member of staff of the Financial Conduct Authority authorised to apply on behalf of a Head of Department.	Certificate Q
A person authorised to apply on behalf of the Bank of England.	Certificate Q
The Head of Regulatory Action in the Prudential Regulation Authority or a member of staff of the Prudential Regulation Authority authorised to apply on behalf of the Head of Regulatory Action.	Certificate Q

The Freedom of Information (Additional Public Authorities) Order 2003

86

In Schedule 1 to the Freedom of Information (Additional Public Authorities) Order 2003[^f00139]—

(a) for “Financial Services Authority” substitute “Financial Conduct Authority”;

(b) after “The Pesticides Residues Committee.” insert—

The Prudential Regulation Authority.

The Open-Ended Investment Companies Regulations (Northern Ireland) 2004

87

(1) The Open-Ended Investment Companies Regulations (Northern Ireland) 2004[^f00140] are amended as follows.

(2) For each reference to “FSA rules” (including in the headings to regulations 6 and 7), substitute “FCA rules”.

(3) In regulation 2 (interpretation), after the definition of “authorisation order” insert—

“the Authority” means the FCA;

(4) In regulation 7 (modification or waiver of FSA rules)—

(a) in paragraph (3)—

(i) for “Section 148(3) to (9) and (11) of the Act” substitute “Sections 138A(3) to (7) and 138B of the Act”;

(ii) for “section 148(2)” substitute “section 138A(1)”;

(iii) omit subparagraph (a) and (b);

(iv) for “subsection (7)(b)” substitute “section 138B(3)(c)”;

(b) in paragraph (4)—

(i) for “Section 148(3) to (9) and (11) of the Act” substitute “Sections 138A(3) to (7) and 138B of the Act”;

(ii) for “section 148(2)” substitute “section 138A(1)”;

(iii) in sub-paragraph (a)—

(aa) for “subsection (4)(a)” substitute “section 138A(4)(a)”;

(bb) omit “authorised”;

(iv) in sub-paragraph (b)—

(aa) for “subsections (7)(b), (8) and (11)” substitute “section 138B(3)(c) and (5)”;

(bb) for “authorised person” substitute “person concerned”;

(v) in sub-paragraph (c), for “subsection (7)(b)” substitute “section 138B(3)(c)”;

(vi) in sub-paragraph (d)—

(aa) for “subsection (9)” substitute “section 138A(7)”;

(bb) for “authorised person” substitute “person to whom the direction relates”.

(5) In regulation 10 (the Authority’s procedures)—

(a) for “(the Authority’s procedures)” substitute “(the FCA’s and PRA’s procedures)”;

(b) in the heading, for “Authority’s” substitute “regulator’s”.

(6) In regulation 25(6) (directions) for “section 150” substitute “section 138D”.

(7) In regulation 27(15) (procedure on giving directions under regulation 25 and varying them on Authority’s own initiative) for “(the Authority’s procedures)” substitute “(the FCA’s and PRA’s procedures)”.

(8) In regulation 42(6) (restraint and ratification by shareholders), for “section 150” substitute “section 138D”.

(9) In regulation 79 (contraventions), for “section 138 of the Act (general rule-making power)” substitute “section 137A of the Act (FCA’s general rules)”.

The Insurers (Reorganisation and Winding Up) Regulations 2004

88

In the Insurers (Reorganisation and Winding Up) Regulations 2004[^f00141]—

(a) in regulation 2(1) (interpretation)—

(i) omit the definition of “the Authority”;

(ii) at the appropriate places insert—

“the FCA” means the Financial Conduct Authority;

“the PRA” means the Prudential Regulation Authority;

“PRA-authorised person” has the meaning given in section 2B of the 2000 Act;

(b) in regulation 2(5), for “Authority” substitute “FCA or the PRA”;

(c) in the heading to regulation 9 (notification of relevant decision to Authority) and in regulation 9(1) to (4), for “Authority” in each place it appears substitute “FCA and, if the insurer is a PRA-authorised person, the PRA”;

(d) for regulation 9(6) substitute—

(6) Paragraphs (1), (2) and (3) do not require the FCA to be informed in any case where the FCA was represented at all hearings in connection with the application in relation to which the decision, order or appointment is made. (6A) Paragraphs (1), (2) and (3) do not require the PRA to be informed in any case where the PRA was represented at all hearings in connection with the application in relation to which the decision, order or appointment is made.

(e) in regulation 10(1) and (2) (notification of relevant decision to EEA regulators), for “the Authority”—

(i) in the first place it appears, substitute “the FCA or the PRA”;

(ii) in the second place it appears, substitute “that authority”;

(f) in regulation 12(11) (notification to creditors: winding up proceedings), for “and the Authority” in both places it appears substitute “, the FCA and, if the insurer is a PRA-authorised person, the PRA”;

(g) in regulation 16 (disclosure of confidential information received from an EEA regulator), for “Authority” substitute “FCA or the PRA”;

(h) in regulation 50 (disclosure of confidential information: third country insurers), for “Authority” substitute “FCA or the PRA”.

The Financial Services and Markets Act 2000 (Transitional Provisions) (Complaints Relating to General Insurance and Mortgages) Order 2004

89

In the Financial Services and Markets Act 2000 (Transitional Provisions) (Complaints Relating to General Insurance and Mortgages) Order 2004[^f00142]—

(a) for “Authority” in each place substitute “FCA”;

(b) in article 12 (application of rules etc to relevant matters) in paragraph (1), for “sections 155 and 157(3)” substitute “sections 138I and 139A(5)”.

The Crime (International Co-operation) Act 2003 (Designation of Prosecuting Authorities) Order 2004

90

In article 2(2) of the Crime (International Co-operation) Act 2003 (Designation of Prosecuting Authorities) Order 2004[^f00143], for “the Financial Services Authority;” substitute—

the Financial Conduct Authority;

the Bank of England;

the Prudential Regulation Authority;

The Credit Institutions (Reorganisation and Winding Up Regulations) 2004

91

In the Credit Institutions (Reorganisation and Winding Up Regulations) 2004[^f00144]—

(a) in regulation 2(1) (interpretation)—

(i) omit the definition of “the Authority”;

(ii) at the appropriate places insert—

“the FCA” means the Financial Conduct Authority;

“the PRA” means the Prudential Regulation Authority;

“PRA-authorised person” has the meaning given in section 2B of the 2000 Act;

(b) in regulation 2(5), for “Authority” substitute “FCA or the PRA”;

(c) in regulation 8 (consultation of the Authority prior to a voluntary winding up) and in the heading to that regulation, for “Authority” substitute “FCA and, if the institution is a PRA-authorised person, the PRA”;

(d) in the heading to regulation 9 (notification of relevant decision to Authority) and in regulation 9(1) to (4), for “Authority” in each place it appears substitute “FCA and, if the institution is a PRA-authorised person, the PRA”;

(e) for regulation 9(5) substitute—

(5) Paragraphs (1), (2) and (3) do not require the FCA to be informed in any case where the FCA was represented at all hearings in connection with the application in relation to which the decision, order or appointment is made. (5A) Paragraphs (1), (2) and (3) do not require the PRA to be informed in any case where the PRA was represented at all hearings in connection with the application in relation to which the decision, order or appointment is made.

(f) in regulation 10(1) and (2) (notification to EEA regulators), for “the Authority”—

(i) in the first place it appears, substitute “the FCA or the PRA”;

(ii) in the second place it appears, substitute “that authority”;

(g) in regulation 10(3), for “Authority” substitute “FCA or the PRA”;

(h) in regulation 11(3) (withdrawal of authorisation)—

(i) for “the Authority”—

(aa) in the first place it appears, substitute “the FCA or the PRA”;

(bb) in the second place it appears, substitute “that authority”;

(ii) for “section 45” substitute “section 55J”;

(i) in regulation 14(9) (notification to creditors: winding up proceedings) , for “and the Authority” in both places it appears substitute “, the FCA and, if the institution is a PRA-authorised person, the PRA”;

(j) in regulation 18(1)(b) (disclosure of confidential information received from an EEA regulator), for “Authority” substitute “FCA or the PRA”;

(k) in regulation 38(2)(a) (disclosure of confidential information: third country credit institution), for “Authority” substitute “FCA or the PRA”.

Transitional provision in relation to the Credit Institutions (Reorganisation and Winding up Regulations) 2004

92

For the purposes of the Credit Institutions (Reorganisation and Winding up Regulations) 2004—

(a) where, before 1st April 2013—

(i) notice was given to the Financial Services Authority for the purposes of regulation 8, and

(ii) the resolution was not passed,

the notice is to be treated as if it had also been given to the Prudential Regulation Authority;

(b) any obligation to inform the Prudential Regulation Authority, or to cause the Prudential Regulation Authority to be informed, which arose under regulation 9 before 1st April 2013, is to be treated as satisfied if the information was given to the Financial Services Authority;

(c) regulation 11(3) applies in addition to the circumstances specified in that provision, where the Financial Services Authority, before 1st April 2013—

(i) was informed of a qualifying decision, qualifying order or qualifying appointment, and

(ii) did not exercise its power under section 45 of the Financial Services and Markets Act 2000 to vary or to cancel the UK credit institution’s permission under Part 4 of that Act to accept deposits or to issue electronic money as the case may be;

(d) any obligation to inform the Authority which arose under regulation 14(9) before 1st April 2013 is to be treated as satisfied if the information was given to the Financial Service Authority, and the obligation under regulation 14(1) shall apply as from the date on which the court and the Financial Services Authority were informed.

The Child Trust Funds Regulations 2004

93

In the Child Trust Funds Regulations 2004[^f00145]—

(a) in regulation 2(1)(b) (interpretation)—

(i) for the definition of “non-UCITS retail scheme”, substitute—

“non-UCITS retail scheme”— has the meaning in COLL (that is, a scheme to which, or to whose authorised fund manager and depositary, sections 5.1, 5.4 and 5.6 of COLL apply), includes a “recognised scheme” by virtue of section 270 or 272 of FISMA 2000, which would fall within paragraph (a) of this definition if it were an authorised fund, and includes a sub-fund of an umbrella which the terms of the scheme identify as a sub-fund which would fall within paragraph (a) or (b) of this definition if it were itself an authorised fund or a recognised scheme. In this definition, expressions defined in the Glossary of the Financial Conduct Authority Handbook have those defined meanings;

(ii) in the definition of “qualifying units in or shares of a non-UCITS retail scheme”—

(aa) for “Collective Investment Schemes Sourcebook” substitute “COLL”;

(bb) for “that Sourcebook”, substitute “ the COLL”;

(cc) for “Rule” or “Rules”, in each place in which those words appear, substitute “section” or “sections”;

(b) in regulation 2(1)(c) (interpretation)—

(i) in the definition of “authorised fund”, omit “by the Financial Services Authority”;

(ii) in the definition of “authorised unit trust”, omit “made by the Financial Services Authority”;

(iii) for the definition of “the Collective Investment Schemes Sourcebook” substitute—

“COLL” means the Collective Investment Schemes Sourcebook made by the Financial Conduct Authority under FISMA 2000;

(iv) in the definition of “recognised UCITS” for “Collective Investments Scheme Sourcebook (see in particular COLL 1.2.2.)” substitute “COLL”;

(v) in the definition of “UK UCITS”—

(aa) for “authorised under section 31(1)(a) of FISMA 2000” substitute “with Part 4A permission under FISMA 2000”;

(bb) for “Collective Investments Scheme Sourcebook (see in particular COLL 1.2.2.)” substitute “COLL”;

(vi) in the definition of “umbrella scheme”, for “Financial Services Authority” substitute “Financial Conduct Authority”;

(i) in sub-paragraph (a)—

(aa) for “rules” substitute “paragraphs”;

(bb) for “Collective Investment Schemes Sourcebook” substitute “COLL”;

(ii) in sub-paragraph (b)—

(aa) for “rules” substitute “paragraphs”;

(bb) for “Collective Investment Schemes Sourcebook” substitute “COLL”;

(d) in regulation 14 (account provider – qualifications and Board’s approval)—

(i) in paragraph (2)(d)(i), for “section 31(1)(a) or (c) of, or Schedule 5 to, the Financial Services and Markets Act 2000”, substitute “FISMA 2000”;

(ii) for paragraph (2)(e) substitute—

(e) an account provider must not be prevented from acting as such by any requirement imposed under Part 4A of FISMA 2000, or by any prohibition or prohibition order in or made under that Act; and

The Employment Tribunals (Constitution and Rules of Procedure) Regulations 2004

94

In the Annex to Schedule 1 to the Employment Tribunals (Constitution and Rules of Procedure) Regulations 2004[^f00146] for “Financial Services Authority” substitute—

Financial Conduct Authority.

Prudential Regulation Authority.

The Bank of England in its capacity as a regulator of recognised clearing houses within the meaning of the Financial Services and Markets Act 2000.

The Financial Conglomerates and Other Financial Groups Regulations 2004

95

(1) The Financial Conglomerates and Other Financial Groups Regulations 2004[^f00147] are amended as follows.

(2) In regulation 1(2) (citation, commencement and interpretation), in the appropriate place, insert—

“regulator” means the Financial Conduct Authority or the Prudential Regulation Authority;

(3) In regulation 2 (notification of identification as a financial conglomerate and choice of co-ordinator)—

(a) in paragraph (1)—

(i) for “the Authority” in the first place it appears substitute “a regulator”;

(ii) after sub-paragraph (a), insert—

(aa) the other regulator;

(iii) for “the Authority” in the second place it appears substitute “the regulator”;

(b) in paragraph (2)(a), for “the Authority” substitute “a regulator”;

(d) in paragraph (3), for “the Authority”, in both places it appears, substitute “the regulator”.

(4) In regulation 3 (exercise of functions under Part IV of the Act for the purposes of carrying on supplementary supervision)—

(a) for “the Authority”, in the first place those words appear, substitute “a regulator”;

(b) for “the Authority” in the second and third place those words appear, substitute “that regulator”;

(5) In regulation 4 (exercise of functions under section 148 of the Act for the purposes of carrying on supplementary supervision)—

(a) in paragraph (1)—

(i) for “the Authority” substitute “a regulator”;

(ii) for “section 148” substitute “section 138A”;

(b) in paragraph (2), for “the Authority”—

(i) in the first place it appears, substitute “a regulator”;

(ii) in the second place it appears, substitute “the regulator”;

(6) In regulation 5 (consultation in case of major sanctions or exceptional measures)—

(a) in paragraph (1) for “the Authority” substitute “a regulator”;

(b) in paragraph (2) for “Authority”, in both places it appears, substitute “relevant regulator”;

(7) In regulation 6 (Authority functions and service of notices)—

(a) in paragraph (1)—

(i) for “the Authority”, in the first place it appears, substitute “a regulator”;

(ii) for “Authority”, in the second place it appears, substitute “regulator”;

(b) in the heading to regulation 6, for “Authority” substitute “Regulator”.

(8) In regulation 8 (supervision of third-country financial conglomerates)—

(a) in paragraphs (1), (2) and (4), for “the Authority” each place it appears substitute “a regulator”;

(b) in paragraph (2)(b), for “section 148” substitute “section 138A”;

(i) in the first place it appears, substitute “a regulator”;

(ii) in each other place it appears, substitute “that regulator”.

(9) In regulation 9 (supervision of third-country banking groups)—

(a) in paragraphs (1), (2), (4) and (5), for “the Authority” in each place it appears, substitute “a regulator”;

(b) in paragraph (2)(b), for “section 148” substitute “section 138A”;

(i) in the first place it appears, substitute “a regulator”;

(ii) in each other place it appears, substitute “that regulator”.

(10) In regulation 10 (supervision of third-country groups subject to the capital adequacy directive)—

(a) in paragraphs (1), (2), (3), (5) and (6), for “the Authority” in each place it appears, substitute “a regulator”;

(b) in paragraph (3)(b), for “section 148” substitute “section 138A”;

(i) in the first place it appears, substitute “a regulator”;

(ii) in each other place it appears, substitute “that regulator”.

(11) In regulation 12 (obtaining information – avoidance of duplication of reporting)—

(a) for “the Authority” in paragraph (1) and in the first place it appears in paragraph (2), substitute “a regulator”;

(b) for “the Authority”, in the second place it appears in paragraph (2), substitute “that regulator”.

(12) In regulation 15 (extension of power to vary Part IV permissions)—

(a) for “the Authority”, in the first place it appears, substitute “a regulator”;

(b) in paragraph (1), for “own-initiative power (within the meaning of section 45 of the Act (variation etc on the Authority’s own initiative))” substitute “own-initiate variation power or own-initiative requirement power (within the meaning of Part 4A of the Act)”;

(i) for “The Authority” substitute “A regulator”;

(ii) for “section 44(1) of the Act (variation etc at request of authorised person)” substitute “sections 55H(2), 55I(1), 55L(5)(b) or (c) or 55M(5)(b) or (c) of the Act”;

(iii) for “section 40” substitute “section 55A”;

(d) in paragraph (3)—

(i) for “the Authority” substitute “a regulator”;

(ii) for “subsection (2) of section 41” substitute “subsection (3) of section 55B”.

Transitional provision in relation to the Financial Conglomerates and Other Financial Groups Regulations 2004

96

Anything done for the purpose of the Financial Conglomerates and Other Financial Groups Regulations 2004 by or in relation to the Financial Services Authority prior to 1st April 2013 in relation to a financial conglomerate is to be treated as having been done by or in relation to the Prudential Regulation Authority, where—

(a) the Prudential Regulation Authority is, on 1st April 2013, the co-ordinator of that financial conglomerate; and

(b) before 1st April 2013 the Financial Services Authority was the co-ordinator of that financial conglomerate.

The Financial Services (Distance Marketing) Regulations 2004

97

In regulation 2(1) of the Financial Services (Distance Marketing) Regulations 2004[^f00148]—

(a) in the definition of “the Authority”, for “Financial Services Authority” substitute “Financial Conduct Authority”;

(b) in the definition of “authorised person”, omit “section 31(2) of”.

The Financial Services and Markets Act 2000 (Stakeholder Products) Regulations 2004

98

In regulation 2(1) (interpretation) of the Financial Services and Markets Act 2000 (Stakeholder Products) Regulations 2004[^f00149]—

(a) omit the definition of “the Conduct of Business Rules”;

(b) for the definition of “dilution levy” substitute—

“dilution levy” has the meaning given by the Financial Conduct Authority Handbook made by the Financial Conduct Authority under the 2000 Act;

“land and buildings” means interests in any land or buildings which satisfy the conditions in paragraph 5.6.18 of the Collective Investment Schemes Sourcebook made by the Financial Conduct Authority under the 2000 Act;

The Pension Protection Fund (PPF Ombudsman) Order (Northern Ireland) 2005

99

In Article 5(2) (restrictions on the disclosure of information) of the Pension Protection Fund (PPF Ombudsman) Order (Northern Ireland) 2005[^f00150], for sub-paragraph (e) substitute—

(e) the Financial Conduct Authority; (ea) the Prudential Regulation Authority;

The Independent Health Care Regulations (Northern Ireland) 2005

100

In regulation 2 (interpretation) of the Independent Health Care Regulations (Northern Ireland) 2005[^f00151], in the definition of “insurance provider”, for “Financial Services Authority” substitute “Financial Conduct Authority or the Prudential Regulation Authority”.

The Pensions (Northern Ireland) Order 2005

101

In Schedules 3 and 7 to the Pensions (Northern Ireland) Order 2005[^f00152], for the entry “Financial Services Authority” substitute “Financial Conduct Authority or the Prudential Regulation Authority”.

The Investment Recommendation (Media) Regulations 2005

102

In regulations 9(3)(c) (dissemination of altered investment recommendations) and 10(c) (dissemination of summaries of investment recommendations) of the Investment Recommendation (Media) Regulations 2005[^f00153], for “Financial Services Authority” substitute “Financial Conduct Authority or the Prudential Regulation Authority”.

The Bankruptcy (Financial Services and Markets Act 2000) Rules (Northern Ireland) 2005

103

In rule 2 (interpretation) of the Bankruptcy (Financial Services and Markets Act 2000) Rules (Northern Ireland) 2005[^f00154], for the definition of “the Authority” substitute—

“the Authority” means— in a case where the individual is a PRA-authorised person or is carrying on a PRA-regulated activity in contravention of section 19 of the Financial Services and Markets Act 2000, the Financial Conduct Authority or the Prudential Regulation Authority; in any other case, the Financial Conduct Authority;

Insurers (Winding-Up) Rules (Northern Ireland) 2005

104

In the Insurers (Winding-Up) Rules (Northern Ireland) 2005[^f00155]—

(a) in rule 2(1) (interpretation), omit the definition of “the Authority”;

(b) in rules 5(7), (8)(a) (maintenance of separate financial records for long-term and other business in winding-up) and 16(2) (maintenance of accounting, valuation and other records) and in paragraph 3(2) (present value of additional benefits) of Schedule 2, for “Authority” substitute “Financial Conduct Authority or the Prudential Regulation Authority”.

The Pension Protection Fund (PPF Ombudsman) Order 2005

105

In article 7(2) (restrictions on the disclosure of information) of the Pension Protection Fund (PPF Ombudsman) Order 2005[^f00156], for sub-paragraph (e) substitute—

(e) the Financial Conduct Authority; (ea) the Prudential Regulation Authority;

The General Optical Council (Registration Appeals Rules) Order of Council 2005

106

In paragraph 7(2)(d)(ii) (information required from applicants for restoration of registration as a business registrant) of Part 2 of the Schedule to the General Optical Council (Registration Appeals Rules) Order of Council 2005[^f00157], for “Financial Services Authority” substitute “Financial Conduct Authority”.

The General Optical Council (Registration Rules) Order of Council 2005

107

In paragraph 8(2)(d)(ii) (information required from applicants for registration or restoration of registration as business registrants) of Part 2 of the Schedule to the General Optical Council (Registration Rules) Order of Council 2005[^f00158], for “Financial Services Authority” substitute “Financial Conduct Authority”.

The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005

108

In the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005[^f00159]—

(a) in article 16(2)(b) (exempt persons), for “by the Authority under section 145” substitute “by the FCA under section 137R”;

(b) in article 36(c) (nationals of EEA States other than United Kingdom), for “by the Authority under section 145” substitute “by the FCA under section 137R”;

(d) in Schedule 5 (statements for certified high net worth individuals and self-certified sophisticated investors), for “Financial Services Authority” in each place those words appear substitute “Financial Conduct Authority”.

The Insurers (Reorganisation and Winding Up) (Lloyd’s) Regulations 2005

109

In the Insurers (Reorganisation and Winding Up) (Lloyd’s) Regulations 2005[^f00160]—

(a) in regulation 2(1) (interpretation)—

(i) insert in the appropriate places—

“the FCA” means the Financial Conduct Authority;

“the PRA” means the Prudential Regulation Authority;

(ii) in the definition of “relevant trust fund”, for “Authority” substitute “FCA or the PRA”;

(b) in regulation 6 (application for a Lloyd’s market reorganisation order)—

(i) in paragraph (1), for “the Authority” substitute “the PRA”;

(ii) after paragraph (1) insert—

(1A) Before making an application under paragraph (1), the PRA must consult the FCA.

(iii) in paragraph (3), for “The Authority” substitute “The FCA, the PRA”;

(i) in paragraph (3), for “Authority” in each place it appears substitute “PRA”;

(ii) in paragraph (5), for “and the Authority” substitute “, the FCA and the PRA”;

(d) in regulation 8(12) (moratorium), for “Authority” substitute “PRA”;

(e) in regulation 10 (announcement of appointment of controller), for “the Authority” in each place it appears, substitute “the PRA”;

(f) in regulation 11 (market reorganisation plan), for “Authority” in each place it appears substitute “PRA”;

(g) in regulation 14 (revocation of an order under regulation 13), for “Authority” substitute “PRA”;

(h) in regulation 31 (payments from central funds), for “Authority” in each it appears substitute “PRA”;

(i) in the heading to regulation 33 (notification of relevant decision) for “Authority” substitute “PRA”;

(j) in regulation 48 (non-EEA countries), for “Authority” in each place it appears substitute “PRA”.

The Proceeds of Crime Act 2002 (External Requests and Orders) Order 2005

110

In each of articles 193(1) (other exemptions) and 205(7)(a) (recoverable property: general exceptions) of the Proceeds of Crime Act 2002 (External Requests and Orders) Order 2005[^f00161], for “Financial Services Authority” substitute “Financial Conduct Authority, the Prudential Regulation Authority or the Bank of England”.

The Financial Assistance Scheme (Appeals) Regulations 2005

111

In regulation 28(3) (restriction on use of documents and information provided for investigations) of the Financial Assistance Scheme (Appeals) Regulations 2005[^f00162], for sub-paragraph (f) substitute—

(f) the Financial Conduct Authority; (fa) the Prudential Regulation Authority; (fb) the Bank of England;

The Insolvency Practitioners Regulations (Northern Ireland) 2006

112

In paragraph 11(4) (inspection and retention requirements related to cover schedule) of Schedule 2 to the Insolvency Practitioners Regulations (Northern Ireland) 2006[^f00163], for “Financial Services Authority” substitute “Financial Conduct Authority or the Prudential Regulation Authority”.

The Community Benefit Societies (Restriction on Use of Assets) Regulations 2006

113

In the Community Benefit Societies (Restriction on Use of Assets) Regulations 2006[^f00164]—

(a) in regulation 2 (interpretation), in the definition of “the Authority”, for “Financial Services Authority” substitute “Financial Conduct Authority”;

(b) for regulation 8 substitute—

(8) In deciding whether and how to exercise the powers conferred by regulations 9, 10 and 11, the Authority— (a) must adopt an approach which is based on the principle that those powers should be exercised only to the extent necessary to maintain confidence in community benefit societies; and (b) if the society in relation to which the exercise of powers is being considered is a PRA-authorised person (within the meaning of the Financial Services and Markets Act 2000), must consult the Prudential Regulation Authority.

The Permitted Persons (Designation) Order 2006

114

In article 2 (permitted persons designated) of the Permitted Persons (Designation) Order 2006[^f00165], for paragraph (30) substitute—

(30) The Financial Conduct Authority; (30A) The Prudential Regulation Authority;

The Authorised Investment Funds (Tax) Regulations 2006

115

In the Authorised Investment Funds (Tax) Regulations 2006[^f00166]—

(a) in regulation 8 (general interpretation), before the definition of “authorised corporate director” insert—

“appropriate regulator” in relation to a person means— in a case where the person is a PRA-authorised person (within the meaning of the Financial Services and Markets Act 2000), the Prudential Regulation Authority or the Financial Conduct Authority; in any other case, the Financial Conduct Authority;

; and

(b) in regulations 14B(4) (tax treatment of qualified investor schemes), 23(2) (provisions applying if amounts available for distribution are de minimis), 69Q(3)(c) and (5)(c) (contents of notice under regulation 69O), 69Z39(1)(a) and (2) (company ceasing to be authorised etc.), 69Z51(3)(e) and (5)(c) (contents of application under regulation 69Z49) and 69Z53(5)(b) (appeal against refusal notice) for “Financial Services Authority” substitute “appropriate regulator”.

The Cross-Border Insolvency Regulations 2006

116

In the Cross-Border Insolvency Regulations 2006[^f00167]—

(a) in Schedule 2 (procedural matters in England and Wales)—

(i) in paragraph 1—

(aa) for sub-paragraph (6) substitute—

(6) References in this Schedule to a debtor who is of interest to the Financial Conduct Authority are references to a debtor who— (a) is, or has been, an authorised person within the meaning of the Financial Services and Markets Act 2000; (b) is, or has been, an appointed representative within the meaning of section 39 of the Financial Services and Markets Act 2000; or (c) is carrying on, or has carried on, a regulated activity in contravention of the general prohibition. (6A) References in this Schedule to a debtor who is of interest to the Prudential Regulation Authority are references to a debtor who— (a) is, or has been, a PRA-authorised person within the meaning of the Financial Services and Markets Act 2000; or (b) is carrying on, or has carried on, a PRA-regulated activity within the meaning of the Financial Services and Markets Act 2000 in contravention of the general prohibition.

(bb) in sub-paragraph (7), for “sub-paragraph (6)” substitute “sub-paragraphs (6) and (6A)”;

(ii) in paragraph 21(2)—

(aa) at the end of paragraph (h) omit “and”;

(bb) for paragraph (i) substitute—

(i) if the debtor is a debtor who is of interest to the Financial Conduct Authority, on that Authority; and (j) if the debtor is a debtor who is of interest to the Prudential Regulation Authority, on that Authority.

(iii) for paragraph 25(1)(i) substitute—

(i) if the debtor is a debtor who is of interest to the Financial Conduct Authority, that Authority; (ia) if the debtor is a debtor who is of interest to the Prudential Regulation Authority, that Authority; and

(iv) for paragraph 26(3)(g) substitute—

(g) if the debtor is a debtor who is of interest to the Financial Conduct Authority, to that Authority; (ga) if the debtor is a debtor who is of interest to the Prudential Regulation Authority, to that Authority;

(b) in Schedule 3 (procedural matters in Scotland)—

(i) in paragraph 1—

(aa) for sub-paragraph (3) substitute—

(3) References in this Schedule to a debtor who is of interest to the Financial Conduct Authority are references to a debtor who— (a) is, or has been, an authorised person within the meaning of the Financial Services and Markets Act 2000; (b) is, or has been, an appointed representative within the meaning of section 39 of the Financial Services and Markets Act 2000; or (c) is carrying on, or has carried on, a regulated activity in contravention of the general prohibition. (3A) References in this Schedule to a debtor who is of interest to the Prudential Regulation Authority are references to a debtor who— (a) is, or has been, a PRA-authorised person within the meaning of the Financial Services and Markets Act 2000; or (b) is carrying on, or has carried on, a PRA-regulated activity within the meaning of the Financial Services and Markets Act 2000 in contravention of the general prohibition.

(bb) in sub-paragraph (4), for “sub-paragraph (3)” substitute “sub-paragraphs (3) and (3A)”;

(ii) for paragraph 6(1)(i) substitute—

(i) if the debtor is a debtor who is of interest to the Financial Conduct Authority, that Authority; (ia) if the debtor is a debtor who is of interest to the Prudential Regulation Authority, that Authority; and

(iii) for paragraph 7(3)(g) substitute—

(g) if the debtor is a debtor who is of interest to the Financial Conduct Authority, to that Authority; (ga) if the debtor is a debtor who is of interest to the Prudential Regulation Authority, to that Authority; and

(c) in Schedule 5 (forms), in form ML6, for “Financial Services Authority” in each place substitute “Financial Conduct Authority and, where relevant, the Prudential Regulation Authority”.

The Banks (Former Authorised Institutions) (Insolvency) Order 2006

117

(1) In the Schedule to the Banks (Former Authorised Institutions) (Insolvency) Order 2006 (modifications of Part 2 of the Insolvency Act in its application to companies that are former authorised institutions)[^f00168]—

(a) in paragraph 4, in the modification of paragraph 12(1) of Schedule B1 to the Insolvency Act 1986—

(i) in sub-paragraph (1), for paragraph (d) substitute—

(d) the Financial Conduct Authority, (da) the Prudential Regulation Authority,

(ii) for sub-paragraph (1A) substitute—

(1A) Where an administration application is made to which the Financial Conduct Authority is not a party, the applicant shall, as soon as is reasonably practicable after the making of the application, give notice of the making of the application to the Financial Conduct Authority. (1B) Where an administration application is made to which the Prudential Regulation Authority is not a party, the applicant shall, as soon as is reasonably practicable after the making of the application, give notice of the making of the application to the Prudential Regulation Authority.

(b) in paragraph 5, in the paragraph substituted for paragraph 22 of Schedule B1 to the Insolvency Act 1986, in sub-paragraph (2), for “Financial Services Authority” substitute “Financial Conduct Authority and the Prudential Regulation Authority”;

(c) in paragraph 6, in paragraphs 91A and 91B inserted in Schedule B1 to the Insolvency Act 1986, for “Financial Services Authority” substitute “Financial Conduct Authority or the Prudential Regulation Authority”;

(d) in paragraph 7, in paragraph 117 inserted in Schedule B1 to the Insolvency Act 1986—

(i) omit sub-paragraph (1);

(ii) in sub-paragraphs (2) and (3) for “Authority” substitute “Financial Conduct Authority and the Prudential Regulation Authority”;

(iii) in sub-paragraphs (4) and (5) for “Authority” substitute “Financial Conduct Authority or the Prudential Regulation Authority”;

(iv) in the heading, for “Financial Services Authority” substitute “Financial Conduct Authority and Prudential Regulation Authority”.

The Capital Requirements Regulations 2006

118

In the Capital Requirements Regulations 2006[^f00169]—

(a) in regulation 1(2)[^f00170] (interpretation), after the definition of “application” insert—

“appropriate regulator” means the FCA or, as the case may be, the PRA;

(b) regulation 2 (application for permission) is amended as follows—

(i) in paragraph (1), for “the Authority” substitute “an appropriate regulator”;

(ii) in paragraphs (2) and (3), for “the Authority” in each place it appears substitute “that appropriate regulator”;

(i) in the heading and in paragraph (1), for “the Authority” substitute “an appropriate regulator”;

(ii) in paragraph (2), for “The Authority” substitute “That appropriate regulator”;

(iii) in paragraphs (3), (4) and (5), for “the Authority” in each place it appears substitute “that appropriate regulator”;

(d) regulation 4 (applications forwarded to the Authority as a relevant competent authority) is amended as follows—

(i) in the heading and in paragraph (1), for “the Authority” substitute “an appropriate regulator”;

(ii) in paragraph (2), for “The Authority” substitute “That appropriate regulator”;

(e) regulation 5 (proposals to vary or revoke a decision or joint decision) is amended as follows—

(i) in paragraph (1), for “the Authority” substitute “an appropriate regulator”;

(ii) in paragraph (2), for “The Authority” substitute “That appropriate regulator”;

(iii) in paragraphs (3) to (5), for “the Authority” in each place it appears substitute “that appropriate regulator”;

(f) in regulation 6, for “The Authority” substitute “An appropriate regulator”;

(g) in regulation 7 (recognition and application of a decision or joint decision), for “The Authority” substitute “An appropriate regulator”;

(h) regulation 8 (exercise of functions for the purpose of applying a decision or joint decision) is amended as follows—

(i) in the heading, for “section 148” substitute “section 138A”;

(ii) in paragraph (1)—

(aa) for “The Authority” substitute “An appropriate regulator”;

(bb) for “section 148” substitute “section 138A”;

(iii) in paragraph (2)—

(aa) in sub-paragraph (a), for “subsections (2) and (9)(b) of section 148 for the Authority’s” substitute “subsections (1) and (7)(b) of section 138A for that appropriate regulator’s”;

(bb) in subparagraph (b), for “section 148(4)” substitute “section 138A(4)”;

(i) regulation 9 is amended as follows—

(i) in paragraph (1)—

(aa) for “the Authority” substitute “an appropriate regulator”;

(bb) for “section 148” substitute “section 138A”;

(ii) in paragraph (2)(c), for “the Authority” substitute “that appropriate regulator”;

(j) in the heading to regulation 10 (the Authority’s duties as an EEA consolidated supervisor)[^f00172], for “The Authority’s duties” substitute “Duties of an appropriate regulator”;

(k) in regulation 10 for “the Authority” substitute “an appropriate regulator”;

(l) in regulation 10A, for “Authority” in each place it appears substitute “appropriate regulator”;

(m) regulation 10B[^f00173] is amended as follows—

(i) in paragraph (1), for “the Authority” substitute “an appropriate regulator”;

(ii) for “Authority” in each other place it appears substitute “appropriate regulator”;

(n) in regulations 11[^f00174], 12 and 12A[^f00175], for “Authority” in each place it appears substitute “appropriate regulator”;

(o) in the heading to regulation 13 (the Authority’s duties as EEA consolidated supervisor or national consolidated supervisor), for “The Authority’s duties” substitute “Duties of an appropriate regulator”;

(p) in regulation 13, for “the Authority” substitute “an appropriate regulator”;

(q) in regulations 14[^f00176] and 15[^f00177], for “Authority” in each place it appears substitute “appropriate regulator”;

(r) regulation 16 is amended as follows—

(i) for “Authority” in each place it appears substitute “appropriate regulator”;

(ii) in paragraph (4)—

(aa) in sub-paragraph (i) for “Part IV” substitute “Part 4A”;

(bb) in sub-paragraph (ii) for “section 148” substitute “section 138A”;

(s) regulation 16A (significant branches)[^f00178] is amended as follows—

(i) for “Authority” in each place it appears substitute “relevant regulator”;

(ii) after paragraph (7) insert—

(8) In this regulation, “the relevant regulator” in relation to a branch established in the United Kingdom means— (a) if the branch is a PRA-authorised person, the PRA; (b) in any other case, the FCA.

(t) regulations 16B, 16C and 16D[^f00179] are amended as follows—

(i) in paragraph (1) of each regulation, for “the Authority” substitute “an appropriate regulator”;

(ii) for “Authority” in each other place it appears substitute “appropriate regulator”;

(u) regulation 16E (the Authority’s general duties)[^f00180] is amended as follows—

(i) for the heading, substitute “General duties of FCA and PRA”;

(ii) for “The Authority” substitute “An appropriate regulator”;

(iii) for “the competent authority” substitute “a competent authority”;

(v) regulation 16G[^f00181] is amended as follows—

(i) in the heading, for “The Authority’s” substitute “The relevant regulator’s”;

(ii) the existing text is renumbered as paragraph (1);

(iii) in that paragraph (1), for “The Authority” substitute “The relevant regulator”;

(iv) after paragraph (1) insert—

(2) In this regulation, the “relevant regulator” in relation to an authorised person means— (a) if the authorised person is a PRA-authorised person, the PRA; (b) in any other case, the FCA.

(w) regulation 17 (disclosed information) is amended as follows—

(i) in paragraph (1)—

(aa) for “the Authority” in the first place it appears substitute “an appropriate regulator”;

(bb) for the “Authority” in the second place it appears substitute “that appropriate regulator”;

(ii) in paragraph (2)—

(aa) for “the Authority” in the first place it appears substitute “an appropriate regulator”;

(bb) for the “Authority” in the second place it appears substitute “that appropriate regulator”;

(x) in regulations 22 to 25[^f00182] (external credit assessment institutions), for “Authority” in each place it appears substitute “PRA”;

(y) regulation 26[^f00183] (restriction on disclosure) is amended as follows—

(i) in paragraph (1)(b) for “the Authority” substitute “an appropriate regulator”;

(ii) in paragraph (3)(b) for “the Authority” substitute “that appropriate regulator”;

(z) regulation 27 (functions of the Authority) is amended as follows—

(i) in the heading, for “the Authority” substitute “the FCA and PRA”;

(ii) for “the Authority” in the first place it appears substitute “an appropriate regulator”;

(iii) for “the Authority” in the second place it appears substitute “that appropriate regulator”;

(aa) in Schedules 1[^f00184] and 2 (recognition of ECAIs and mapping), for “Authority” in each place it appears substitute “PRA”.

Transitional provision in relation to the Capital Requirements Regulations 2006

119

(1) This paragraph makes transitional provision in connection with the amendments made to the Capital Requirements Regulations 2006 (“the Regulations”).

(2) Permission given to a person (“P”) under Part 2 of the Regulations before 1st April 2013 is to be treated as having been given by the PRA if the PRA is the EEA consolidated supervisor in relation to the group of which P is a member.

(3) An application made under Part 2 of the Regulations before 1st April 2013 which has not been determined before 1st April 2013 is to be treated as having been made to the PRA if the PRA is the EEA consolidated supervisor in relation to the group of which the applicant is a member; and in such cases, anything done by the Financial Services Authority in relation to the application prior to 1st April 2013 is to be treated as having been done by the PRA.

(4) Where, prior to 1st April 2013, the Financial Services Authority has made a proposal under regulation 5 of the Regulations or received a proposal under regulation 6 of the Regulations and no decision has been made in relation to the proposal prior to 1st April 2013, the proposal is to be treated as having been made by or made to the PRA if the proposal relates to a group for which the PRA is the EEA consolidated supervisor.

(5) For the purposes of Parts 3 and 4 of the Regulations, things done by or in relation to the Financial Services Authority prior to 1st April 2013 are to be treated as having been done by or in relation to the PRA where the matter relates to a group, or a member of a group, for which the PRA is the EEA consolidated supervisor.

(6) In this paragraph, “EEA consolidated supervisor” has the meaning given in the Regulations.

The Compensation Act 2006 (Contribution for Mesothelioma Claims) Regulations 2006

120

In the Compensation Act 2006 (Contribution for Mesothelioma Claims) Regulations 2006[^f00185]—

(a) for “Authority” in each place it appears, substitute “Financial Conduct Authority or the Prudential Regulatory Authority”;

(b) in the heading to regulation 4 (modification of FSMA in relation to FSA rules for mesothelioma claims)—

(i) for “FSA rules” substitute “rules made by the Financial Conduct Authority or the Prudential Regulatory Authority”,

(ii) for “sections 155 and 157(3)” substitute “sections 138I and 139A(5)”.

The Gambling (Operating Licence and Single-Machine Permit Fees) Regulations 2006

121

In regulation 23(2)(b) of the Gambling (Operating Licence and Single-Machine Permit Fees) Regulations 2006[^f00186], for “Financial Services Authority” substitute “Financial Conduct Authority or the Prudential Regulation Authority”.

The Water and Sewerage Services (Northern Ireland) Order 2006

122

In Article 265 of the Water and Sewerage Services (Northern Ireland) Order 2006[^f00187] (restriction on disclosure of information), in paragraph (4), for sub-paragraph (h) substitute—

(h) the Financial Conduct Authority; (i) the Prudential Regulation Authority.

The Enterprise Act 2002 (Amendment) Regulations 2006

123

In regulation 23 of the Enterprise Act 2002 (Amendment) Regulations 2006[^f00188] and in the heading to that regulation for “Financial Services Authority” substitute “Financial Conduct Authority”.

The Cross-Border Insolvency Regulations (Northern Ireland) 2007

124

In Schedule 2 (procedural matters) to the Cross-Border Insolvency Regulations (Northern Ireland) 2007[^f00189]—

(a) in paragraph 1—

(i) for sub-paragraph (6) substitute—

(6) References in this Schedule to a debtor who is of interest to the Financial Conduct Authority are references to a debtor who— (a) is, or has been, an authorised person within the meaning of the Financial Services and Markets Act 2000; (b) is, or has been an appointed representative within the meaning of section 39 of the Financial Services and Markets Act 2000; or (c) is carrying on, or has carried on, a regulated activity within the meaning of the Financial Services and Markets Act 2000) in contravention of the general prohibition. (6A) References in this Schedule to a debtor who is of interest to the Prudential Regulation Authority are references to a debtor who— (a) is, or has been, a PRA-authorised person within the meaning of the Financial Services and Markets Act 2000; or (b) is carrying on, or has carried on, a PRA-regulated activity within the meaning of the Financial Services and Markets Act 2000 in contravention of the general prohibition.

(ii) in sub-paragraph (7), for “sub-paragraph (6)” substitute “sub-paragraphs (6) and (6A)”;

(b) in paragraph 21(2)—

(i) at the end of paragraph (h) omit “and”;

(ii) for paragraph (i) substitute—

(i) if the debtor is a debtor who is of interest to the Financial Conduct Authority, on that Authority; and (j) if the debtor is a debtor who is of interest to the Prudential Regulation Authority, on that Authority.

(i) if the debtor is a debtor who is of interest to the Financial Conduct Authority, that Authority; (ia) if the debtor is a debtor who is of interest to the Prudential Regulation Authority, that Authority; and

(d) for paragraph 26(3)(g) substitute—

(g) if the debtor is a debtor who is of interest to the Financial Conduct Authority, to that Authority; (ga) if the debtor is a debtor who is of interest to the Prudential Regulation Authority, to that Authority;

The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2007

125

(1) The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2007[^f00190] are amended as follows.

(2) In regulation 2 (interpretation)—

(a) after the definition of “the Act” insert—

“the appropriate regulator” means— in relation to a person who is, or who is applying to become, a PRA-authorised person, the Prudential Regulatory Authority; in any other case, the Financial Conduct Authority;

(b) omit the definition of “the Authority”;

“Part 4A permission” has the meaning given in section 55A(5) of the Act;

(3) In regulation 4(1) (general restrictions on giving permission), for “the Authority” substitute “the appropriate regulator”.

(4) In regulation 4A (applications to be an exempt investment firm)[^f00191]—

(a) in paragraph (1), for “section 40”, substitute “section 55A”;

(b) in paragraph (2), for “section 44” substitute “section 55H or 55I”.

(5) In regulation 4C (requirements to be applied to exempt investment firms)[^f00192]—

(a) in paragraph (1)—

(i) for “the Authority” in the first place those words appear, substitute “the appropriate regulator”;

(ii) for “included in the permission by the Authority under section 43” substitute “imposed under section 55L (where the Financial Conduct Authority is the appropriate regulator) or 55M (where the Prudential Regulatory Authority is the appropriate regulator)”;

(b) in paragraph (2)—

(i) for “the Authority” in each place it appears, substitute “the appropriate regulator”;

(ii) in subparagraph (a)—

(aa) for “the inclusion of the specified requirement in the Part IV permission” substitute “the treatment of the specified requirement as a requirement imposed under section 55L or 55M of the Act”;

(bb) for “section 52(6)” substitute “section 55X(1)”;

(cc) for “section 43(1)” in each place it appears, substitute “section 55L(1) or 55M(1)”;

(dd) for “section 52(9)” substitute “section 55X(4)”;

(ee) for “section 55(1)” substitute “section 55Z3(1)”;

(c) in subparagraph (b), omit “and, accordingly, section 43(5) shall not be treated as requiring the Authority to specify a period at the end of which they expire”;

(d) in subparagraph (c), for “section 44 of the Act to vary the permission by cancelling or varying” substitute “sections 55L(5) or 55M(5) of the Act to vary or cancel”.

(6) In paragraph (3), for “the Authority” substitute “the appropriate regulator”.

The Iran (Financial Sanctions) Order 2007

126

In paragraph 6(1)(c) of the Schedule to the Iran (Financial Sanctions) Order 2007[^f00193] for “Financial Services Authority” substitute “Financial Conduct Authority, the Prudential Regulation Authority, or the Bank of England”.

The Financial Services and Markets Act 2000 (Administration Orders Relating to Insurers) (Northern Ireland) Order 2007

127

In the Financial Services and Markets Act 2000 (Administration Orders Relating to Insurers) (Northern Ireland) Order 2007[^f00194]—

(a) in article 3 (modification of the Insolvency Rules (Northern Ireland) 1991 in relation to insurers), from “the following sub-paragraph” to the end substitute “the following sub-paragraphs—

(aa) the Financial Conduct Authority; (ab) the Prudential Regulation Authority;

(b) in the Schedule (modifications of Part 3 of the 1989 Order in relation to insurers), for “Financial Services Authority” in each place it appears substitute “Financial Conduct Authority and, where relevant, the Prudential Regulation Authority”.

The Regulation of Investigatory Powers (Authorisations Extending to Scotland) Order 2007

128

In the Schedule to the Regulation of Investigatory Powers (Authorisations Extending to Scotland) Order 2007[^f00195], in column 1 of the table—

(a) for “Financial Services Authority” substitute “Financial Conduct Authority”;

(b) as the next entry insert “The Prudential Regulation Authority”.

The Money Laundering Regulations 2007

129

In the Money Laundering Regulations 2007[^f00196]—

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