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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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(ii) omit the definition of “the FSA”;

(iii) in the definition of “principal office”, for “FSA”, in each place, substitute “Financial Conduct Authority”;

(iv) in the definition of “registered name”, for “FSA” substitute “Financial Conduct Authority”;

(b) in paragraph (6)(u), for “FSA” substitute “Financial Conduct Authority”.

(3) In rule 74 (disapplication of set-off for eligible depositors)—

(a) in paragraph (1), for “FSA Rules” substitute “the appropriate regulator’s rules”;

(b) in paragraph (6)—

(i) for the definition of “FSA Rules” substitute—

“appropriate regulator’s rules” means the rules, as amended from time to time, made under section 213 of the Financial Services and Markets Act 2000 by— if the building society is a PRA-authorised person (within the meaning of that Act), the Prudential Regulation Authority or the Financial Conduct Authority; or in any other case, the Financial Conduct Authority;

(ii) in the definition of “protected deposit”, for “FSA Rules” substitute “the appropriate regulator’s rules”.

(4) In rule 181 (procedure following appeal under section 116 of the Banking Act)—

(a) for “the FSA” in the first place those words appear substitute “the Financial Conduct Authority or the Prudential Regulation Authority”;

(b) for “the FSA” in the second place it appears substitute “the regulator in question”.

(5) For “FSA”, in every other place it appears, substitute “appropriate regulator”.

The Building Society Insolvency (Scotland) Rules 2010

192

(1) The Building Society Insolvency (Scotland) Rules 2010[^f00276] are amended as follows.

(2) In rule 3 (application of rules, construction and interpretation)—

(a) in paragraph (2)—

(i) after the definition of “the 2010 Rules”, insert—

“the appropriate regulator”, in relation to a building society, means— if the building society is a PRA-authorised person (within the meaning of the Financial Services and Markets Act 2000), the Prudential Regulation Authority and the Financial Conduct Authority (except in rules 11(2), 40(2) and 87 where it means the Prudential Regulation Authority or the Financial Conduct Authority); in any other case, the Financial Conduct Authority;

(ii) omit the definition of “the FSA”;

(iii) for the definition of “FSA Rules” substitute—

“appropriate regulator’s rules” means the rules, as amended from time to time, made under section 213 of the Financial Services and Markets Act 2000 by— if the building society is a PRA-authorised person (within the meaning of that Act), the Prudential Regulation Authority or the Financial Conduct Authority; or in any other case, the Financial Conduct Authority;

(iv) in the definition of “principal office”, for “FSA”, in each place, substitute “Financial Conduct Authority”;

(v) in the definition of definition of “protected deposit” for “FSA Rules” substitute “appropriate regulator’s rules”;

(vi) in the definition of “registered name”, for “FSA” substitute “Financial Conduct Authority”;

(b) in paragraph (6)(s), for “FSA” substitute “Financial Conduct Authority”.

(3) In rule 31(1) (rights of eligible depositor and set-off), for “FSA Rules” substitute “appropriate regulator’s rules”.

(4) In rule 32(4) (appointment by creditors), for “or the FSA (if the FSA was that applicant)” substitute “the Financial Conduct Authority (if it was that applicant) or the Prudential Regulation Authority (if it was that applicant)”.

(5) In rule 40(7) (removal of building society liquidator by the court), after “three copies” insert “(unless the building society is a PRA-authorised person in which case four copies shall be sent)”.

(6) In rule 88 (procedure following appeal under section 116 of the Banking Act)—

(a) for “the FSA” in the first place those words appear substitute “the Financial Conduct Authority or the Prudential Regulation Authority”;

(b) for “the FSA” in the second place those words appear substitute “the regulator in question”.

(7) In rule 90 (dissolution after winding up), for ““FSA”” substitute ““Financial Conduct Authority””.

(8) For “the FSA”, in every other place it appears, substitute “the appropriate regulator”.

The Official Statistics Order 2010

193

In the Schedule to the Official Statistics Order 2010[^f00277] for “Financial Services Authority” substitute “Financial Conduct Authority”.

The Somalia (Asset-Freezing) Regulations 2010

194

In paragraph 5(1)(e) of the Schedule to the Somalia (Asset-Freezing) Regulations 2010[^f00278] (information provisions) for the “the Financial Services Authority” substitute “the Financial Conduct Authority or the Prudential Regulation Authority”.

The Financial Services and Markets Act 2000 (Administration Orders Relating to Insurers) Order 2010

195

In the Financial Services and Markets Act 2000 (Administration Orders Relating to Insurers) Order 2010[^f00279]—

(a) in article 3 (application and modification of the Insolvency Rules 1986 in relation to insurers), for “Financial Services Authority” substitute “Financial Conduct Authority and, where the person is a PRA-authorised person within the meaning of the Financial Services and Markets Act 2000, the Prudential Regulation Authority”;

(b) in article 4 (application and modification of the Insolvency (Scotland) Rules 1986 in relation to insurers), for “the Financial Services Authority” substitute “the Financial Conduct Authority and, where the person is a PRA-authorised person within the meaning of the Financial Services and Markets Act 2000, the Prudential Regulation Authority”;

(i) in paragraph 2(1), in the inserted paragraph 3A, for “Financial Services Authority”—

(aa) in sub-paragraph (3)(b), substitute “Prudential Regulation Authority and, if the insurer is not a PRA-authorised person within the meaning of the Financial Services and Markets Act 2000, the Financial Conduct Authority”,

(bb) in sub-paragraph (10)(c), substitute “Financial Conduct Authority or the Prudential Regulation Authority”;

(ii) in paragraph 3 for “Financial Services Authority” substitute “Financial Conduct Authority and the Prudential Regulation Authority”;

(iii) in paragraph 4 for “Financial Services Authority” substitute “Financial Conduct Authority and the Prudential Regulation Authority”;

(iv) in paragraph 5 for “Financial Services Authority” substitute “Financial Conduct Authority and the Prudential Regulation Authority”;

(v) in paragraph 8 for “Financial Services Authority” substitute “Financial Conduct Authority or the Prudential Regulation Authority”;

(vi) in paragraph 9(c) for “Financial Services Authority” substitute “Financial Conduct Authority or the Prudential Regulation Authority”.

The Electronic Money Regulations 2011

196

(1) The Electronic Money Regulations 2011[^f00280] are amended as follows.

(2) In regulation 2(1) (interpretation), in the definition of “the Authority”, for “Financial Services Authority” substitute “Financial Conduct Authority”.

(3) In regulation 59 (costs of supervision) for paragraph (1) substitute—

(1) The functions of the Authority under these Regulations are to be treated for the purposes of paragraph 23 (fees) of Part 3 of Schedule 1ZA to the 2000 Act as functions conferred on the Authority under that Act with the following modifications— (a) section 1B(5)(a) of the 2000 Act (the FCA’s general duties) does not apply to the making of rules under paragraph 23 of Part 3 of Schedule 1ZA by virtue of this regulation; (b) rules made under paragraph 23 of Part 3 of Schedule 1ZA by virtue of this regulation are not to be treated as regulating provisions for the purposes of section 140A(1) of the 2000 Act (competition scrutiny)[^f00281]; (c) paragraph 23(7) does not apply.

(4) In regulation 61 (Authority’s exemption from liability in damages), for “paragraph 19 (exemption from liability in damages) of Part 4 of Schedule 1 to the 2000 Act” substitute “paragraph 25 (exemption from liability in damages) of Part 4 of Schedule 1ZA to the 2000 Act”.

(5) In Schedule 3 (application and modification of legislation)—

(a) in paragraph 1 (disciplinary powers), for sub-paragraph (a)[^f00282] substitute—

(a) for subsection (2) substitute— (2) For the purpose of action by the FCA, a person is guilty of misconduct if, while a relevant person, the person has been knowingly concerned in a contravention of the Electronic Money Regulations 2011 by an electronic money issuer which is an electronic money institution, credit institution, credit union or municipal bank.

(b) in paragraph 2 (the Tribunal), in sub-paragraph (a), after paragraph (ii) insert—

(iia) for subsection (7A) substitute— (7A) A reference is a “disciplinary reference” for the purposes of this section if it is in respect of any of the following decisions— (a) a decision to publish a statement under regulation 50 of the Electronic Money Regulations 2011; (b) a decision to impose a penalty under regulation 51 of those Regulations; (c) a decision to suspend or impose a restriction on authorisation under regulation 52 of those Regulations; (d) a decision to take action under section 66[^f00283] of the 2000 Act as applied by those Regulations; (e) a decision to take action under section 345[^f00284] of the 2000 Act as applied by those Regulations.

(i) in sub-paragraph (a)—

(aa) in the heading to section 165, for “Authority’s” substitute “Regulator’s’”;

(bb) in paragraph (iii), for “(b) and (c)” substitute “(b), (c) and (d)”;

(ii) for sub-paragraph (b) substitute—

(b) in section 166 (reports by skilled persons)[^f00285]— (i) in subsection (2), for paragraph (a) substitute— (a) a person mentioned in paragraph (a), (b), (c), (d), (h) or (i) of the definition of “electronic money issuer” in regulation 2(1) of the Electronic Money Regulations 2011 (“A”) (ii) omit subsections (10) and (11);

(iii) after sub-paragraph (b) insert—

(ba) in section 166A (appointment of skilled person to collect and update information)[^f00286], for each reference to an “authorised person” substitute “person mentioned in paragraph (a), (b), (c), (d), (h) or (i) of the definition of “electronic money issuer” in regulation 2(1) of the Electronic Money Regulations 2011;

(iv) in sub-paragraph (c)—

(aa) in paragraph (i) omit sub-paragraph (aa);

(bb) at the end of paragraph (iii) omit “and”;

(cc) after paragraph (iii) insert—

(iiia) for subsection (5A) substitute— (5A) “Investigating authority” means the FCA.

(v) in sub-paragraph (d)—

(aa) in paragraph (i) for sub-paragraph (aa) substitute—

(aa) before paragraph (b) insert— (ab) a person may have contravened any requirement of or imposed under the Electronic Money Regulations 2011;

(bb) in paragraph (i)(bb) for “191” substitute “191F[^f00287]”;

(cc) for paragraph (iv) substitute—

(iv) for subsection (6), substitute— (6) “Investigating authority” means the FCA.

(vi) in sub-paragraph (e)(i) omit “, 351”;

(vii) in sub-paragraph (f)(iii) for “the Authority” substitute “the FCA”;

(d) in paragraph 4 (control over electronic money institutions)—

(i) after sub-paragraph (a) insert—

(aa) in section 178[^f00288] for subsection (2A) substitute— (2A) In this Part, “the appropriate regulator” means the FCA. (ab) in section 187(2)(b)[^f00289] omit “section 187A(3)(b) or”; (ac) omit section 187A[^f00290];

(ii) after sub-paragraph (b) insert—

(ba) in section 191A[^f00291] omit subsection (4A);

(iii) for sub-paragraph (c) substitute—

(c) in section 191B[^f00292] (restriction notices)— (i) omit subsection (2A); (ii) after subsection (2B) insert— (2C) In a restriction notice, the FCA must direct that voting power to which the notice relates is, until further notice, not to be exercisable. (iii) for subsection (3)(b) substitute— (b) voting power that has been exercised as a result of the acquisition is void;

(iv) after sub-paragraph (c) insert—

(ca) in section 191C[^f00293] omit subsection (2A); (cb) in section 191D[^f00294] omit subsection (1A);

(v) in sub-paragraph (d), in the inserted section 191EA and in the heading to that section, for “the Authority” substitute “the FCA”;

(e) in paragraph 5 (auditors and actuaries)—

(i) at the end of sub-paragraph (a) omit “and”;

(ii) after sub-paragraph (a) insert—

(aa) for references to “appropriate regulator” or “regulator” substitute “FCA”; (ab) omit all references to “recognised investment exchange”; (ac) in section 340[^f00295] omit subsections (3A),(5A) and (8)(b); (ad) in section 344[^f00296] omit subsection (4); (ae) in section 345[^f00297]— (i) in subsection (2)(a) omit “or any particular class of authorised person;”; (ii) omit subsection (2)(b); (iii) in subsection (3)(a), for “FCA-authorised person” substitute “electronic money institution”; (iv) omit subsection (3)(b), (c) and (d); (v) omit subsection (4); (af) omit section 345A[^f00298]; (ag) in section 345B[^f00299]— (i) in paragraph (1) omit “or the PRA proposes to act under section 345A(3)”; (ii) in paragraphs (4) and (7) omit “or the PRA decides to act under section 345A(3)”; (ah) in section 345C[^f00300] omit “or 345A(4)(b)”; (ai) in section 345D[^f00301] omit subsections (2) and (9);

(f) in paragraph 6 (restrictions on disclosure of information)—

(i) in the heading to section 348, for “Authority” substitute “FCA, PRA”;

(ii) omit “, 351 (competition information)”;

(iii) in sub-paragraph (a)—

(aa) for paragraph (i) substitute—

(i) in subsection (2)(b) for the words from “, the PRA” to the end substitute “under the Electronic Money Regulations 2011; and

(bb) in paragraph (iii)(bb) for “(b) and (c)” substitute “(aa) and (c)”;

(cc) in paragraph (iii)(cc) for ““the Authority”” substitute “the FCA”;

(dd) for paragraph (iii)(dd) substitute—

(dd) in paragraph (ea) for “a person mentioned in those paragraphs” substitute “the FCA”; (ee) in paragraph (f) for “a person mentioned in those paragraphs” substitute “the FCA

(ee) for paragraph (iv) substitute—

(iv) in subsection (6) for paragraphs (a) and (b) substitute “any body or person appointed under regulation 48 of the Electronic Money Regulations 2011”; and

(iv) for sub-paragraph (b) substitute—

(b) in section 349[^f00302]— (i) in subsection (2)(c) omit “or the PRA”; (ii) omit subsections (3A) and (3B).

(g) in paragraph 7 (insolvency)—

(i) after sub-paragraph (a) insert—

(aa) omit references to a recognised investment exchange;

(ii) for sub-paragraph (d) substitute—

(d) in section 368[^f00303], for “a regulator” in each place it appears substitute “the FCA”;

(h) in paragraph 8 (warning notices and decision notices)—

(i) before sub-paragraph (a) insert—

(za) in section 387[^f00304] (warning notices), omit subsections (1A) and (3A);

(ii) in sub-paragraph (a) after for “subsection (2)” substitute “omit subsections (1A) and (2)”;

(iii) in sub-paragraph (c)—

(aa) before sub-paragraph (i) insert—

(iza) for subsection (1ZB) substitute— (1ZB) A warning notice falls within this subsection if it is given under— (a) section 67; (b) section 345B; (c) regulation 10 of the Electronic Money Regulations 2011 (including regulation 10 as applied by regulation 15 of those Regulations); (d) regulation 29 of those Regulations; (e) regulation 35 of those Regulations; (f) regulation 53 of those Regulations; or (g) regulation 56 of those Regulations. (izb) omit subsection (6A);

(iv) in sub-paragraph (e) for “(the Authority’s procedures)” substitute “(the FCA’s and PRA’s procedures)”.

The Legal Services Act 2007 (Disclosure of Restricted Information) Order 2011

197

In Schedule 1 to the Legal Services Act 2007 (Disclosure of Restricted Information) Order 2011[^f00305] (persons to whom information may be disclosed), for “The Financial Services Authority” substitute—

The Financial Conduct Authority

The 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 Investment Bank Special Administration Regulations 2011

198

In the Investment Bank Special Administration Regulations 2011[^f00306]—

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

(i) in the definition of “Authorities”, for “and the FSA” substitute “, the FCA and the PRA”;

(ii) for the definition of “FSA” substitute—

“FCA” means the Financial Conduct Authority;

(iii) after the definition beginning “Objective 1”, insert—

“PRA” means the Prudential Regulation Authority;

“PRA-authorised person” has the meaning given by FSMA;

(iv) in the definition of “recognised overseas clearing house”, for “the FSA has made a recognition order” substitute “a recognition order has been made”;

(v) in the definition of “recognised overseas investment exchange”, for “the FSA has made a recognition order” substitute “a recognition order has been made”;

(vi) after the definition of “recognised overseas investment exchange”, insert—

“the regulators” means the FCA and the PRA, and references to a regulator are to be read accordingly;

(vii) in the definition of “statement of proposals”, for “FSA” substitute “FCA or, where relevant, the PRA”;

(b) in regulation 3 (overview)—

(i) in paragraph (2)(c), for “FSA” substitute “FCA or, where relevant, the PRA”;

(ii) in paragraph (3)(b), for “or, as the case may be, the FSA” substitute “, the FCA or, in certain cases, the PRA”;

(i) in paragraph (1)—

(aa) at the end of sub-paragraph (g), omit “or”;

(bb) for sub-paragraph (h) substitute—

(h) the FCA; or (i) if the investment bank is a PRA-authorised person, the PRA.

(ii) in paragraph (2), for “FSA”, in each place it appears, substitute “FCA”;

(iii) after paragraph (2), insert—

(2A) Where an application is made by a person other than the PRA in relation to an investment bank which is a PRA-authorised person, the PRA is entitled to be heard at— (a) the hearing of the application for special administration; and (b) any other hearing of the court in relation to the investment bank under these Regulations.

(iv) in paragraph (4), for “FSA” substitute “appropriate regulator”;

(d) in regulation 6(2) (grounds for applying), for “FSA” substitute “FCA or, where relevant, the PRA”;

(e) in regulation 7 (powers of the court)—

(i) in paragraph (1)—

(aa) in sub-paragraph (e), for “FSA”, in each place it appears, substitute “FCA”;

(bb) after sub-paragraph (e), insert—

(ea) on the application of the PRA, treat the application as an administration application by the PRA under Schedule B1 in accordance with section 359(1A) of FSMA;

(ii) in paragraph (2)(a), for “or the FSA” substitute “, the FCA or PRA”;

(f) in regulation 8 (notice to FSA of preliminary steps to other insolvency proceedings)—

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

(ii) in paragraph (8), before the definition of “investment bank” insert—

“appropriate regulator” means— in relation to an investment bank which is a PRA-authorised person, the FCA and the PRA (and any references in this regulation to the “appropriate regulator” are to be read as references to each of the FCA and PRA); in any other case, the FCA;

(g) in regulation 11(8) (objective 1 – distribution of client assets), for “section 139[^f00307] of FSMA (clients’ money)” substitute “section 137B of FSMA (FCA general rules: clients’ money, right to rescind etc.)”;

(h) in regulation 12(1)(c) (objective 1 – shortfall in client assets held in omnibus account) for “section 139 of FSMA (clients’ money)” substitute “section 137B of FSMA (FCA general rules: clients’ money, right to rescind etc.)”;

(i) in regulation 15 (general powers, duties and effect), in Table 1—

(i) in the modification relating to paragraph 46—

(aa) in paragraph (c), for “FSA” in each place it appears, substitute “FCA”;

(bb) after paragraph (c) insert—

(ca) Where the special administration application relates to a PRA-authorised person and has not been made by the PRA, notice of the administrator’s appointment shall also be sent under sub-paragraph (5) to the PRA.

(ii) in the comment relating to the first entry for paragraph 49, for “FSA” substitute “FCA or, where relevant, the PRA”;

(iii) in the modifications or comments relating to paragraphs 49 (second entry), 50, 51, 54, 56, 57, 74 (but not the modifications in paragraphs (c) and (d)), 75, 84 and 91, for “FSA” substitute “FCA and, where the investment bank concerned is a PRA-authorised person, the PRA”;

(iv) in the modification relating to paragraph 53—

(aa) in paragraph (b), for “FSA” in each place it appears substitute “FCA”;

(bb) after paragraph (b) insert—

(c) If the investment bank concerned is a PRA-authorised person, and if the PRA has not appointed a person to attend the meeting under sub-paragraph (2), the administrator must also report any decision taken to the PRA.

(v) in the modification relating to paragraph 68, for “FSA” substitute “FCA or, where relevant, the PRA”;

(vi) in the modifications or comments relating to paragraphs 74 (but not the modifications in paragraph (a)), 81, 87 and 89, for “FSA” substitute “FCA or the PRA”;

(j) in regulation 16 (FSA direction)—

(i) in the heading, for “FSA” substitute “Appropriate regulator”;

(ii) in paragraphs (1), (4), (5) and (5), for “FSA” substitute “appropriate regulator”;

(iii) in paragraph (2), for “the FSA”, substitute “that regulator”;

(iv) after paragraph (4) insert—

(4A) Where the investment bank concerned is a PRA-authorised person, the appropriate regulator must also consult the other regulator before giving such a direction.

(v) after paragraph (6) insert—

(7) In this regulation, “appropriate regulator” means— (a) in relation to an investment bank which is a PRA-authorised person, the FCA or the PRA; (b) in any other case, the FCA.

(k) in regulation 17 (administrator’s proposals in the event of FSA direction)—

(i) in the heading, for “FSA” substitute “Appropriate regulator”;

(ii) in paragraph (1)—

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

(bb) omit “FSA’s”;

(iii) in paragraphs (3), (4) and (8) for “FSA” in each place it appears substitute “the regulator which has given the direction”;

(iv) in paragraph (6), omit “FSA’s”;

(v) in paragraph (9), for “FSA” substitute “FCA or the PRA”;

(l) in regulation 18 (revision of proposals in the event of FSA direction)—

(i) in the heading, for “FSA” substitute “Appropriate regulator”;

(ii) for “the FSA”, in the first place it appears, substitute “the regulator which gave the direction under regulation 16”;

(iii) for “the FSA”, in each other place it appears, substitute “that regulator”;

(m) in regulation 19 (FSA direction withdrawn)—

(i) in the heading, for “FSA” substitute “Appropriate regulator”;

(ii) in paragraph (1)—

(aa) for “FSA” substitute “regulator which gave the direction under regulation 16”;

(bb) omit “FSA’s”;

(n) in regulation 20(3) (successful rescue), for “FSA” substitute “FCA and, where the investment bank concerned is a PRA-authorised person, the PRA”;

(o) in regulation 22(3) (special administration order as an alternative order), for “FSA” substitute “FCA or, where the investment bank concerned is a PRA-authorised person, the PRA”;

(p) n paragraphs 3(b) and 4(3) of Schedule 1, for “FSA” substitute “FCA or the PRA”;

(q) in Schedule 2 (special administration (bank administration))—

(i) in paragraph 3(4) for “FSA” substitute “FCA or the PRA”;

(ii) in paragraph 6, in the Table, in the modifications relating to section 145—

(aa) for “FSA”, in each place it appears, except in paragraph (l)(iii) (the modification relating to paragraph 74), substitute “FCA and, where the investment bank concerned is a PRA-authorised person, the PRA”;

(bb) in the modification in paragraph (l)(iii), for “FSA” in each place it appears substitute “FCA or the PRA”;

(iii) in paragraph 8—

(aa) in sub-paragraph (1), for “the FSA”—

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

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

(dd) in sub-paragraph (2), for “the FSA have not” substitute “neither regulator has”;

(ee) in sub-paragraph (3)—

(ff) for “the FSA have” substitute “a regulator has”;

(gg) for “or the FSA” substitute “or that regulator”;

(hh) in sub-paragraph (5), omit “FSA’s” and “FSA”;

(iv) in paragraph 9—

(aa) in sub-paragraph (1)(a), for “FSA” substitute “FCA and, where the investment bank concerned is a PRA-authorised person, the PRA”;

(bb) in sub-paragraph (2)(a), for “the FSA”—

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

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

(v) in paragraph 10—

(aa) in sub-paragraph (1), for “the FSA” substitute “a regulator”;

(bb) in sub-paragraph (2)(b), for “FSA” substitute “FCA and, where the investment bank concerned is a PRA-authorised person, the PRA”;

(cc) in sub-paragraph (3)(b), for “the FSA” substitute “a regulator”;

(dd) in sub-paragraph (4), for “the FSA”—

(ee) in the first place it appears, substitute “FCA or, where the investment bank concerned is a PRA-authorised person, the PRA”;

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

(gg) in sub-paragraph (4), for “the FSA”—

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

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

(vi) in paragraph 11—

(aa) in sub-paragraph (2), for “the FSA”—

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

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

(dd) in sub-paragraphs (3) and (4), for “the FSA” substitute “FCA or, where relevant, the PRA”;

(ee) in sub-paragraph (5), for “the FSA”—

(ff) for “the FSA have not” substitute “neither regulator has”;

(gg) for “FSA shall” substitute “FCA and, where the investment bank concerned is a PRA-authorised person, the PRA shall”;

(vii) in the heading before paragraph 12, for “FSA” substitute “regulation 16”;

(viii) in paragraph 12—

(aa) in sub-paragraph (1)(c), for “the FSA has not given a direction” substitute “no direction has been given”;

(bb) in sub-paragraph (3), for “FSA” substitute “FCA and, where the investment bank concerned is a PRA-authorised person, the PRA”;

(ix) in the heading before paragraph 13, for “FSA” substitute “regulation 16”;

(x) in paragraph 13—

(aa) in sub-paragraph (1)(c), for “the FSA” substitute “a regulator”;

(bb) in sub-paragraphs (2), (3) and (4) for “the FSA” substitute “that regulator”;

(xi) in paragraph 15(3), for “FSA” substitute “FCA and, where the investment bank concerned is a PRA-authorised person, the PRA”;

(r) in Schedule 4 (application of these regulations to partnerships), in paragraph 4, in Table 1, for “FSA”, in each place where it appears, substitute “FCA and, where the investment bank concerned is a PRA-authorised person, the PRA” except as provided in the following—

(i) in the modifications relating to paragraph 26 of Schedule 2 to the 1994 Order (paragraph 74 of Schedule B1), in paragraphs (c) and (d)(iii), for “FSA” substitute “FCA or the PRA”;

(ii) in the modifications relating to paragraph 29 of Schedule 2 to the 1994 Order (paragraph 87 of Schedule B1) and paragraph 30 of Schedule 2 (paragraph 89 of Schedule B1), for “or the FSA” substitute “, the FCA or the PRA”;

(s) in Schedule 6 (modifications and consequential amendments), in paragraph 3—

(i) in sub-paragraph (2)(b), in the modified section 215(4), for “Authority” substitute “regulators”;

(ii) in sub-paragraph (5), in the heading for section 375, for “Authority’s right” substitute “right of FCA and PRA”.

Transitional provision in relation to the Investment Bank Special Administration Regulations 2011

199

For the purposes of the Investment Bank Special Administration Regulations 2011 anything done by or in relation to the Financial Services Authority under those Regulations (including, in particular, the giving of directions under regulation 16) in relation to an investment bank which is, on 1st April 2013, a PRA-authorised person within the meaning of those Regulations is to be treated as having also been done, unless the context otherwise requires, by or in relation to the Prudential Regulation Authority.

The Libya (Financial Sanctions) Order 2011

200

In paragraph 5(1)(e) of the Schedule to the Libya (Financial Sanctions) Order 2011[^f00308] (general power to disclose information), for “Financial Services Authority” substitute “Financial Conduct Authority, the Prudential Regulation Authority”.

The Libya (Asset-Freezing) Regulations 2011

201

In paragraph 5(1)(e) of the Schedule to the Libya (Asset-Freezing) Regulations 2011[^f00309] (general power to disclose information), for “Financial Services Authority” substitute “Financial Conduct Authority, the Prudential Regulation Authority”.

The Independent Health Care (Wales) Regulations 2011

202

In regulation 2(1) (interpretation)(dehongli) of the Independent Health Care (Wales) Regulations 2011[^f00310]—

(a) in the English text—

(i) for the definition of “Financial Services Authority” substitute—

“Financial Conduct Authority” (“Awdurdod Ymddygiad Ariannol”) means the body renamed the Financial Conduct Authority by section 1A(1) of the Financial Services and Markets Act 2000[^f00311];

(ii) at the appropriate place insert—

“Prudential Regulation Authority” (“Awdurdod Rheoleiddio Darbodus”) means the body corporate originally incorporated as the Prudential Regulation Authority Limited and renamed the Prudential Regulation Authority by section 2A(1) of the Financial Services and Markets Act 2000[^f00312];

(iii) in the definition of “insurance provider”, for “the Financial Services Authority” substitute “the Financial Conduct Authority or the Prudential Regulation Authority”;

(b) in the Welsh text—

(i) for the definition of “Awdurdod Gwasanaethau Ariannol” substitute—

“ystyr “Awdurdod Ymddygiad Ariannol” (“Financial Conduct Authority”) yw’r corff a ailenwyd yn Awdurdod Ymddygiad Ariannol gan adran 1A(1) o Ddeddf Gwasanaethau a Marchnadoedd Ariannol 2000[^f00313];

(ii) at the appropriate place insert—

“ystyr “Awdurdod Rheoleiddio Darbodus” (“Prudential Regulation Authority”) yw’r corff corfforaethol a ymgorfforwyd yn wreiddiol fel y Prudential Regulation Authority Limited ac a ailenwyd yn Awdurdod Rheoleiddio Darbodus gan adran 2A(1) o Ddeddf Gwasanaethau a Marchnadoedd Ariannol 2000[^f00314];

(iii) in the definition of “darparwr yswiriant”, for “yr Awdurdod Gwasanaethau Ariannol” substitute “yr Awdurdod Ymddygiad Ariannol neu’r Awdurdod Rheoleiddio Darbodus”.

The Tunisia (Restrictive Measures) (Overseas Territories) Order 2011

203

For article 12(2)(d) of the Tunisia (Restrictive Measures) (Overseas Territories) Order 2011[^f00315] (obtaining of evidence and information) substitute—

(d) to the Financial Conduct Authority, the Prudential Regulation Authority or to the monetary authority of any other country or territory.

The Egypt (Asset-Freezing) Regulations 2011

204

In paragraph 5(1)(e) of the Schedule to the Egypt (Asset-Freezing) Regulations 2011[^f00316] (general power to disclose information), for “the Financial Services Authority” substitute “the Financial Conduct Authority, the Prudential Regulation Authority”.

The Tunisia (Asset-Freezing) Regulations 2011

205

In paragraph 5(1)(e) of the Schedule to the Tunisia (Asset-Freezing) Regulations 2011[^f00317] (general power to disclose information), for “the Financial Services Authority” substitute “the Financial Conduct Authority, the Prudential Regulation Authority”.

The Ivory Coast (Asset-Freezing) Regulations 2011

206

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The Democratic People’s Republic of Korea (Asset-Freezing) Regulations 2011

207

In paragraph 5(1)(e) of the Schedule to the Democratic People’s Republic of Korea (Asset-Freezing) Regulations 2011[^f00319] (general power to disclose information), for “the Financial Services Authority” substitute “the Financial Conduct Authority, the Prudential Regulation Authority”.

The Iran (Asset-Freezing) Regulations 2011

208

In paragraph 5(1)(e) of the Schedule to the Iran (Asset-Freezing) Regulations 2011[^f00320] (general power to disclose information), for “the Financial Services Authority” substitute “the Financial Conduct Authority, the Prudential Regulation Authority”.

The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011

209

In paragraph 2 of Schedule 3 to the Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011[^f00321] (applications for authorisation in respect of Northern Ireland Open-Ended Investment Company)—

(a) in sub-paragraph (2), after “the Financial Services Authority” insert “or the Financial Conduct Authority”;

(b) in sub-paragraph (3) for “Authority” substitute “Financial Services Authority”.

The Investment Bank Special Administration (England and Wales) Rules 2011

210

In the Investment Bank Special Administration (England and Wales) Rules 2011[^f00322]—

(a) in the provisions listed in paragraph (b), for “FSA”, in each place it appears, substitute “FCA or, where relevant, the PRA”;

(b) the provisions are—

(i) rule 8(2)(c) (witness statement in support of application);

(ii) rule 10(1)(c) (service of application);

(iii) rule 13(f) (the hearing);

(iv) rule 20(1)(e) (other persons to receive copy of application);

(v) rule 39(1)(e) (Bank of England witness statement);

(vi) rule 41(1)(c) (service);

(vii) rule 44(f) (hearing);

(viii) rule 59(2)(q) (administrator’s proposals);

(ix) rule 61(5) (initial meeting);

(x) rule 63(8) (business of the initial meeting);

(xi) rule 65(9) (revision of the statement of proposals);

(xii) rule 66(4) and (5) (meeting to approve the revised statement of proposals);

(xiii) rule 122(1)(h) (content of progress report);

(xiv) rule 220(2)(a) (final progress report);

(c) in the provisions listed in paragraph (d), for “FSA”, in each place it appears, substitute “FCA and, where the investment bank concerned is a PRA-authorised person, the PRA”;

(d) the provisions are—

(i) rule 26(5)(a) (making, transmission and advertisement of order);

(ii) rule 32(5)(a) (order of appointment);

(iii) rule 55(6) (limited disclosure);

(iv) rule 56(4) and (5) (release from duty to submit statement of affairs);

(v) rule 60(6) (limited disclosure of the statement of proposals);

(vi) rule 65(3) (revision of the statement of proposals);

(vii) rule 70(4) (notice of meeting by individual notice: when and where sent);

(viii) rule 76(6)(a) (requisition of meetings);

(ix) rule 106(6) (functions and meetings of the committee);

(x) rule 117(3) (resolution of creditors’ committees by post);

(xi) rule 118(4) (information from administrator);

(xii) rule 138(3)(a) (notice of the bar date);

(xiii) rule 146(3)(d) (approval by the court);

(xiv) rule 157(3)(a) and (4)(c) (appeal against decision on proof);

(xv) rule 175(3)(b) (notice of proposed distribution);

(xvi) rule 179(1)(b) (notice of declaration of a dividend);

(xvii) rule 181(2)(a) (notice of no dividend or no further dividend);

(xviii) rule 209(3)(f) (application to court to remove administrator from office);

(xix) rule 221(2)(a)(iii) and (4)(a) (application to court by administrator);

(xx) rule 222(1)(c) (application to court by creditor);

(xxi) rule 227(3)(c) and (8)(b) (court file);

(e) in rule 12 (further notification)—

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

(ii) for paragraph (c) substitute—

(c) the FCA (if not the applicant); and (d) if the application relates to a PRA-authorised person, the PRA (if not the applicant).

(f) in rule 13, for paragraph (g) substitute—

(g) the FCA; (ga) if the investment bank concerned is a PRA-authorised person, the PRA; and

(g) in rule 16(2) (notice of special administration order)—

(i) at the end of sub-paragraph (a) omit “and”;

(ii) for sub-paragraph (b) substitute—

(b) the FCA (if not the applicant); and (c) if the application relates to a PRA-authorised person, the PRA (if not the applicant).

(h) in rule 19(2)(c) (proof of service), for “or the FSA” substitute “, the FCA or the PRA”;

(i) in rule 20(1), for sub-paragraph (c) substitute—

(c) the FCA (if not the applicant); (ca) if the application relates to a PRA-authorised person, the PRA (if not the applicant);

(j) in rule 30(1) (appointment of person under section 135)—

(i) at the end of sub-paragraph (a) omit “or”;

(ii) for sub-paragraph (b) substitute—

(b) by the FCA, with the consent of the Bank of England; or (c) if the application relates to a PRA-authorised person, by the PRA, with the consent of the Bank of England;

(k) in rule 42 (other notification)—

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

(ii) for paragraph (c) substitute—

(c) the FCA; and (d) if the application relates to a PRA-authorised person, the PRA.

(l) in rule 44 (hearing), for paragraph (b) substitute—

(b) the FCA; (ba) if the application relates to a PRA-authorised person, the PRA;

(m) in rule 47(2) (notice of order), for paragraph (b) substitute—

(b) a sealed copy to the FCA; (ba) if the investment bank concerned is a PRA-authorised person, a sealed copy to the PRA;

(n) in rule 50(3) (order of appointment), for sub-paragraph (b) substitute—

(b) the FCA; (ba) if the application relates to a PRA-authorised person, the PRA;

(o) in rule 59(7) (administrator’s proposals)—

(i) at the end of sub-paragraph (b) omit “and”;

(ii) for sub-paragraph (c) substitute—

(c) the FCA; and (d) if the application relates to a PRA-authorised person, the PRA,

(p) in rule 138 (notice of the bar date)—

(i) in paragraph (7), for “FSA” in each place it appears substitute “FCA”;

(ii) after paragraph (7) insert—

(8) If the investment bank concerned is a PRA-authorised person, the PRA may also submit a request to the administrator under paragraph (6) if the PRA considers that there are particular circumstances in respect of a claimant, or a class of claimants, that mean that those persons will have difficulty submitting their claim before the bar date.

(q) in rule 165(6) (application of rule 164 in a special administration (bank administration) and special administration (bank insolvency))—

(i) for the definition of “FSA Rules” substitute—

“the appropriate regulator rules” means the rules, as amended from time to time, made under section 213 of the Financial Services and Markets Act 2000 by the FSA or the PRA

(ii) in the definition of “protected deposit” for “FSA Rules” substitute “the appropriate regulator rules”;

(r) in rule 184 (disqualification from dividend)—

(i) in paragraph (2), for “FSA” in each place it appears substitute “FCA”;

(ii) after paragraph (2) insert—

(3) If the investment bank concerned is a PRA-authorised person, notice of an application under paragraph (1) shall also be given by the administrator to the PRA and the PRA shall have the right to appear and be heard at the hearing of the application.

(s) in rule 200 (recourse to the court)—

(i) in paragraph (6), for “FSA” in each place it appears substitute “FCA”;

(ii) after paragraph (6) insert—

(6A) If the investment bank concerned is a PRA-authorised person, notice of the application shall also be given to the PRA and the PRA may nominate a person to appear and be heard on the application.

(t) in rule 202(1) (claim that remuneration is excessive)—

(i) at the end of sub-paragraph (c) omit “or”;

(ii) for sub-paragraph (d), substitute—

(d) the FCA; or (e) if the investment bank concerned is a PRA-authorised person, the PRA.

(u) in rule 207 (notice of intention to resign)—

(i) in paragraph (2), for “FSA” substitute “FCA, the PRA”;

(ii) in paragraph (4), for “FSA” substitute “FCA and, where the investment bank concerned is a PRA-authorised person, the PRA”;

(v) in rule 210(b) (notice of vacation of office when administrator ceases to be qualified), for “FSA” substitute “FCA, the PRA”;

(w) in rule 212(3) (application to replace (special administration))—

(i) at the end of sub-paragraph (c) omit “and”;

(ii) for sub-paragraph (d) substitute—

(d) the FCA (if not the applicant); and (e) if the application relates to a PRA-authorised person, the PRA (if not the applicant).

(x) in rule 327(5) (proceedings other than special administration commenced), for the definition of “the Authority” substitute—

“the Authority” means— where the investment bank is a deposit-taker and the application under paragraph (1) is for an order to convert the proceedings to— a special administration (bank administration), the Bank of England; a special administration (bank insolvency)— if the investment bank is a PRA-authorised person, the Bank of England or the PRA (with the consent of the Bank of England); in any other case, the Bank of England or the FCA (with the consent of the Bank of England); otherwise, the FCA or the PRA;

Transitional provision in relation to the Bank Special Administration (England and Wales) Rules 2011

211

For the purposes of the Investment Bank Special Administration (England and Wales) Rules 2011, anything done by or in relation to the Financial Services Authority under those Rules in relation to, or in connection with an investment bank which is, on 1st April 2013, a PRA-authorised person (within the meaning of those Rules) is to be treated, unless the context otherwise requires, as having also been done by or in relation to the Prudential Regulation Authority.

The Undertakings for Collective Investment in Transferable Securities Regulations 2011

212

In the Undertakings for Collective Investment in Transferable Securities Regulations 2011[^f00323]—

(a) in regulation 7 (interpretation of Part 4), in the definition of “the Authority” for “Financial Services Authority” substitute “Financial Conduct Authority”;

(b) in regulation 15(5) (division of a master UCITS), for “Authority” substitute “Financial Conduct Authority”.

The Egypt (Restrictive Measures) (Overseas Territories) Order 2011

213

For article 12(2)(d) (obtaining of evidence and information) of the Egypt (Restrictive Measures) (Overseas Territories) Order 2011[^f00324] substitute—

(d) to the Financial Conduct Authority of the United Kingdom, the Prudential Regulation Authority of the United Kingdom or to the relevant authority with responsibility in any other country or territory for the regulation and supervision of financial services business.

The Afghanistan (Asset-Freezing) Regulations 2011

214

In paragraph 5(1)(e) (general power to disclose information) of the Schedule to the Afghanistan (Asset-Freezing) Regulations 2011[^f00325], for “the Financial Services Authority” substitute “the Financial Conduct Authority, the Prudential Regulation Authority”.

The Equality Act 2010 (Specific Duties) Regulations 2011

215

In Schedule 1 (public authorities required to publish information) to the Equality Act 2010 (Specific Duties) Regulations 2011[^f00326], under the heading “Industry, business, finance (etc)”—

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

(b) at the appropriate place insert “The Prudential Regulation Authority.”.

The Investment Bank Special Administration (Scotland) Rules 2011

216

In the Investment Bank Special Administration (Scotland) Rules 2011[^f00327]—

(a) in the provisions listed in paragraph (b), for “FSA”, in each place it appears, substitute “FCA or, where relevant, the PRA”;

(b) the provisions are—

(i) rule 9(1)(d) (service of application);

(ii) rule 26(1)(d) (service);

(iii) rule 39(2)(q) (statement of proposals);

(iv) rule 40(4) (initial meeting);

(v) rule 42(8) (business of the initial meeting);

(vi) rule 44(9) (revision of the statement of proposals);

(vii) rule 45(4) and (5) (meeting to approve the revised statement of proposals);

(viii) rule 99(1)(i) (content of progress report);

(ix) rule 149(a) (final progress report);

(c) in the provisions listed in paragraph (d), for “FSA”, in each place it appears, substitute “FCA and, where the investment bank concerned is a PRA-authorised person, the PRA”;

(d) the provisions are—

(i) rule 36(5) (limited disclosure);

(ii) rule 37(4) (release from duty to submit statement of affairs);

(iii) rule 44(3) (revision of the statement of proposals);

(iv) rule 49(4) (notice of meeting by individual notice: when and where sent);

(v) rule 55(6) (requisition of meetings);

(vi) rule 83(6) (functions and meetings of the committee);

(vii) rule 94(3) (resolutions otherwise than at a meeting);

(viii) rule 95(4) (information from administrator);

(ix) rule 114(3)(a) (notice of the bar date);

(x) rule 122(3) (approval by the court);

(xi) rule 127(3) (application of the 1985 Act in relation to creditor’s claims);

(xii) rule 132(5) and (6) (application of 1985 Act in relation to distribution of assets);

(xiii) rule 138(4) (notice of intention to resign);

(xiv) rule 140(1)(f) (application to court to remove administrator from office);

(xv) rule 150(2)(c) (application to court by administrator);

(xvi) rule 151(1)(c) (application to court by creditor);

(xvii) rule 187(1)(i) (right to inspect documents, to have list of creditors and to copy documents);

(e) in rule 9(1) (service of application), for paragraph (a) substitute—

(a) the FCA (if not the applicant); (ab) if the application relates to a PRA-authorised person, the PRA (if not the applicant);

(f) in rule 11(1) (notice of special administration order)—

(i) at the end of sub-paragraph (a) omit “and”;

(ii) for sub-paragraph (b) substitute—

(b) the FCA (if not the applicant); and (c) if the application relates to a PRA-authorised person, the PRA (if not the applicant).

(g) in rule 14(4)(b) (appointment of administrator by the court), for paragraph (i) substitute—

(i) the FCA (if not the applicant); (ia) if the application relates to a PRA-authorised person, the PRA (if not the applicant);

(h) in rule 17(1) (appointment of person under section 135 of the 1986 Act)—

(i) at the end of sub-paragraph (a), omit “or”;

(ii) for sub-paragraph (b) substitute—

(b) the FCA, with the consent of the Bank of England; or (c) if the application relates to a PRA-authorised person, the PRA, with the consent of the Bank of England;

(i) in rule 18(2) (order of appointment), for paragraph (c) substitute—

(c) the FCA (if not the applicant); (ca) if the application relates to a PRA-authorised person, the PRA (if not the applicant); and

(j) in rule 22(1) (termination of appointment)—

(i) at the end of sub-paragraph (a), omit “or”;

(ii) for sub-paragraph (b) substitute—

(b) the FCA, with the consent of the Bank of England; or (c) if the investment bank concerned is a PRA-authorised person, the PRA, with the consent of the Bank of England.

(k) in rule 26(1) (service)—

(i) for sub-paragraph (a) substitute—

(a) on the FCA; (aa) if the application relates to a PRA-authorised person, on the PRA;

(l) in rule 28 (notice of order), for paragraph (b) substitute—

(b) the FCA; (ba) if the application relates to a PRA-authorised person, the PRA; and

(m) in rule 31(2) (order of appointment), for sub-paragraph (b) substitute—

(b) the FCA; (ba) if the application relates to a PRA-authorised person, the PRA; and

(n) in rule 39(7) (statement of proposals)—

(i) at the end of sub-paragraph (b) omit “and”;

(ii) for sub-paragraph (c) substitute—

(c) the FCA; and (d) if the application relates to a PRA-authorised person, the PRA,

(o) in rule 114(7), for “the FSA”—

(i) in the first place it appears substitute “the FCA or, where the investment bank concerned is a PRA-authorised person, the PRA”;

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

(p) in rule 134(6) (rights of eligible depositors and set-off)—

(i) after the definition of “the 2000 Act” insert—

”the appropriate regulator’s rules” means the rules, as amended from time to time, made under section 213 of the 2000 Act by— if the investment bank is a PRA-authorised person, the PRA or the FCA; in any other case, the FCA;

(ii) in the definition of “protected deposit”, for “the General Provisions and Glossary Instrument 2001 (2001/7) made by the Financial Services Authority under the 2000 Act” substitute “the appropriate regulator’s rules”;

(q) in rule 136 (administrator’s application to increase remuneration), for paragraph (6) substitute—

(6) Notice of the application shall also be given to the FCA and, where the investment bank concerned is a PRA-authorised person, the PRA; and a regulator to which notice is given may nominate a person to appear or be represented on the application.

(r) in rule 138(2) (notice of intention to resign), for “FSA” substitute “FCA, the PRA”;

(s) in rule 141(4)(b) (incapacity of administrator to act through death or otherwise), for “FSA” substitute “FCA, the PRA”;

(t) in rule 142(2) (application to replace (special administration)), for sub-paragraph (c) substitute—

(c) the FCA (if not the applicant); (ca) if the application relates to a PRA-authorised person, the PRA (if not the applicant); and

(u) in rule 194(5) (proceedings other than special administration commenced), for the definition of “the Authority” substitute—

“the Authority” means— where the investment bank is a deposit-taker and the application under paragraph (1) is for an order to convert the proceedings to— a special administration (bank administration), the Bank of England; a special administration (bank insolvency)— if the investment bank is a PRA-authorised person, the Bank of England or the PRA (with the consent of the Bank of England); in any other case, the Bank of England or the FCA (with the consent of the Bank of England); otherwise, the FCA or the PRA;

Transitional provision in relation to the Investment Bank Special Administration (Scotland) Rules 2011

217

For the purposes of the Investment Bank Special Administration (Scotland) Rules 2011 anything done by or in relation to the Financial Services Authority under those Rules in relation to an investment bank which is a PRA-authorised person (within the meaning of those Rules) is to be treated, unless the context otherwise requires, as having been done by or in relation to the Prudential Regulation Authority.

The Belarus (Restrictive Measures) (Overseas Territories) Order 2011

218

In the Belarus (Restrictive Measures) (Overseas Territories) Order 2011[^f00328]—

(a) for article 14(1)(e) (provisions supplementary to articles 11 to 13) substitute—

(e) to the Financial Conduct Authority of the United Kingdom, the Prudential Regulation Authority of the United Kingdom or to the relevant authority with responsibility in any other country or territory for the regulation and supervision of financial services business.

(b) for article 23(2)(d) (obtaining of evidence and information) substitute—

(d) to the Financial Conduct Authority of the United Kingdom, the Prudential Regulation Authority of the United Kingdom or to the relevant authority with responsibility in any other country or territory for the regulation and supervision of financial services business.

The Al-Qaida (Asset-Freezing) Regulations 2011

219

In paragraph 5(1)(e) (general power to disclose information) of Schedule 1 to the Al-Qaida (Asset-Freezing) Regulations 2011[^f00329], for “the Financial Services Authority” substitute “the Financial Conduct Authority, the Prudential Regulation Authority”.

The Financial Services and Markets Act 2000 (Permissions, Transitional Provisions and Consequential Amendments) (Northern Ireland Credit Unions) Order 2011

220

In the Financial Services and Markets Act 2000 (Permissions, Transitional Provisions and Consequential Amendments) (Northern Ireland Credit Unions) Order 2011[^f00330]—

(a) in article 5 (requirement to reapply for Part 4 permission)—

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

(ii) in paragraph (2), for the words “apply to the Authority under section 40” substitute “apply to the regulator which gave the direction under section 55A”;

(iii) in paragraph (3), for “Section 40(2)” substitute “Section 55A(3)”;

(iv) in paragraph (4)—

(aa) for the words from “Authority must” to “section 45(1)” substitute “regulator which gave the direction must consider whether to exercise the power in section 55J (variation or cancellation on initiative of regulator) and, for this purpose, section 55J(1)”;

(bb) in the sub-paragraph added by that paragraph for “Authority” substitute “regulator”;

(v) in paragraph (5), for “Authority” substitute “regulator which gave the direction”;

(vi) in paragraph (6)—

(aa) for “Authority” substitute “PRA”;

(bb) for “Authority’s” substitute “PRA’s”;

(b) in article 6 (requirement to reapply for approved person status)—

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

(ii) in paragraph (4), omit “by the Authority”;

(iii) for “Authority” in every other place it appears substitute “regulator which gave the direction”;

(iv) in paragraph (5), for “the Authority’s substitute “that regulator’s”;

The Iran (Restrictive Measures) (Overseas Territories) Order 2011

221

For article 12(2)(d) (obtaining of evidence and information) of the Iran (Restrictive Measures) (Overseas Territories) Order 2011[^f00331] substitute—

(d) to the Financial Conduct Authority of the United Kingdom, the Prudential Regulation Authority of the United Kingdom or to the relevant authority with responsibility in any other country or territory for the regulation and supervision of financial services business.

The Syria (European Union Financial Sanctions) Regulations 2012

222

In paragraph 5(1)(e) (general power to disclose information) of the Schedule to the Syria (European Union Financial Sanctions) Regulations 2012[^f00332], for “the Financial Services Authority” substitute “the Financial Conduct Authority, the Prudential Regulation Authority”.

The Iran (European Union Financial Sanctions) Regulations 2012

223

In paragraph 5(1)(e) (general power to disclose information) of the Schedule to the Iran (European Union Financial Sanctions) Regulations 2012[^f00333], for “the Financial Services Authority” substitute “the Financial Conduct Authority, the Prudential Regulation Authority”.

The Postal Services Act 2011 (Disclosure of Information) Order 2012

224

In article 3 of the Postal Services Act 2011 (Disclosures of Information) Order 2012[^f00334] (prescription of bodies and persons)—

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

(b) at the appropriate places insert “the Bank of England;” and “the Prudential Regulation Authority;”.

The Guinea-Bissau (Asset-Freezing) Regulations 2012

225

In paragraph 5(1)(e) of the Schedule to the Guinea-Bissau (Asset Freezing) Regulations 2012[^f00335] (general power to disclose information), for “the Financial Services Authority” substitute “the Financial Conduct Authority, the Prudential Regulation Authority”.

The Supervision of Accounts and Reports (Prescribed Body) and Companies (Defective Accounts and Directors’ Reports) (Authorised Person) Order 2012

226

In article 2(2) of the Supervision of Accounts and Reports (Prescribed Body) and Companies (Defective Accounts and Directors’ Reports) (Authorised Person) Order 2012[^f00336] (appointment in relation to issuers), for sub-paragraph (b) substitute—

(b) applicable rules in the Listing Rules, Prospectus Rules and Disclosure Rules and Transparency Rules Sourcebooks of the Financial Conduct Authority Handbook made under the Financial Services and Markets Act 2000.

The Iraq (Asset-Freezing) Regulations 2012

227

In paragraph 5(1)(e) (general power to disclose information) of Schedule 1 to the Iraq (Asset-Freezing) Regulations 2012[^f00337], for “the Financial Services Authority” substitute “the Financial Conduct Authority, the Prudential Regulation Authority”.

The Sudan (Asset-Freezing) Regulations 2012

228

In paragraph 5(1)(e) (general power to disclose information) of the Schedule to the Sudan (Asset-Freezing) Regulations 2012[^f00338], for “the Financial Services Authority” substitute “the Financial Conduct Authority, the Prudential Regulation Authority”.

The Republic of Guinea (Asset-Freezing) Regulations 2012

229

In paragraph 5(1)(e) (general power to disclose information) of the Schedule to the Republic of Guinea (Asset-Freezing) Regulations 2012[^f00339] for “the Financial Services Authority” substitute “the Financial Conduct Authority, the Prudential Regulation Authority”.

The Democratic Republic of the Congo (Asset-Freezing) Regulations 2012

230

In paragraph 5(1)(e) (general power to disclose information) of the Schedule to the Democratic Republic of the Congo (Asset-Freezing) Regulations 2012[^f00340], for “the Financial Services Authority” substitute “the Financial Conduct Authority, the Prudential Regulation Authority”.

The Eritrea (Asset-Freezing) Regulations 2012

231

In paragraph 5(1)(e) (general power to disclose information) of the Schedule to the Eritrea (Asset-Freezing) Regulations 2012[^f00341], for “the Financial Services Authority” substitute “the Financial Conduct Authority, the Prudential Regulation Authority”.

The Liberia (Asset-Freezing) Regulations 2012

232

In paragraph 5(1)(e) (general power to disclose information) of the Schedule to the Liberia (Asset-Freezing) Regulations 2012[^f00342], for “the Financial Services Authority” substitute “the Financial Conduct Authority, the Prudential Regulation Authority”.

The Lebanon and Syria (Asset-Freezing) Regulations 2012

233

In paragraph 5(1)(e) (general power to disclose information) of the Schedule to the Lebanon and Syria (Asset-Freezing) Regulations 2012[^f00343], for “the Financial Services Authority” substitute “the Financial Conduct Authority, the Prudential Regulation Authority”.

The Prospectus Regulations 2012

234

In regulation 10(2) of the Prospectus Regulations 2012[^f00344] (review), after “Financial Services Authority” insert “and the Financial Conduct Authority”.

The Syria (Restrictive Measures) (Overseas Territories) Order 2012

235

In the Syria (Restrictive Measures) (Overseas Territories) Order 2012[^f00345]—

(a) in article 24(1)(c) (provisions supplementary to articles 21 to 23), for “Financial Services Authority of the United Kingdom” substitute “Financial Conduct Authority of the United Kingdom, the Prudential Regulation Authority of the United Kingdom”;

(b) in paragraph 5(1)(e) of Schedule 5 (evidence and information), for “Financial Services Authority of the United Kingdom” substitute “Financial Conduct Authority of the United Kingdom, the Prudential Regulation Authority of the United Kingdom”.

The Iran (Restrictive Measures) (Overseas Territories) Order 2012

236

In the Iran (Restrictive Measures) Overseas Territories) Order 2012[^f00346]—

(a) for article 26(1)(d) (supplementary provisions) substitute—

(d) to the Financial Conduct Authority of the United Kingdom, the Prudential Regulation Authority of the United Kingdom or to the relevant authority with responsibility in any other country or territory for the regulation and supervision of financial services business.

(b) for paragraph 6(d) of Schedule 5 (evidence and information) substitute—

(d) to the Financial Conduct Authority of the United Kingdom, the Prudential Regulation Authority of the United Kingdom or to the relevant authority with responsibility in any other country or territory for regulating and supervising financial services business; or

The Al-Qaida (United Nations Measures) (Overseas Territories) Order 2012

237

For article 23(2)(d) of the Al-Qaida (United Nations Measures) (Overseas Territories) Order 2012[^f00347] (evidence and information) substitute—

(d) to the Financial Conduct Authority of the United Kingdom, the Prudential Regulation Authority of the United Kingdom or to any equivalent authority of any other country or territory.

The Afghanistan (United Nations Measures) (Overseas Territories) Order 2012

238

For article 23(2)(d) of the Afghanistan (United Nations Measures) (Overseas Territories) Order 2012[^f00348] (evidence and information) substitute—

(d) to the Financial Conduct Authority of the United Kingdom, the Prudential Regulation Authority of the United Kingdom or to any equivalent authority of any other country or territory.

The Financial Services and Markets Act 2000 (Short Selling) Regulations 2012

239

In the Financial Services and Markets Act 2000 (Short Selling) Regulations 2012[^f00349]—

(a) in regulation 1(2) (interpretation), in the definition of “Authority” for “Financial Services Authority” substitute “Financial Conduct Authority”;

(b) in regulation 5(5) (applications under the short selling regulation) for “(misleading the authority: residual cases)” substitute “(misleading FCA or PRA: residual cases)”.

The Iraq (United Nations Sanctions) (Overseas Territories) (Amendment) Order 2012

240

In paragraph 7(1)(e) of Schedule 5 to the Iraq (United Nations Sanctions) (Overseas Territories) (Amendment) Order 2012[^f00350] (evidence and information), for “the Financial Services Authority of the United Kingdom” substitute “the Financial Conduct Authority of the United Kingdom, the Prudential Regulation Authority of the United Kingdom”.

The Eritrea (Sanctions) (Overseas Territories) Order 2012

241

In paragraph 5(1)(e) of Schedule 6 to the Eritrea (Sanctions) (Overseas Territories) Order 2012[^f00351] (evidence and information), for “the Financial Services Authority of the United Kingdom” substitute “the Financial Conduct Authority of the United Kingdom, the Prudential Regulation Authority of the United Kingdom”.

The Zimbabwe (Sanctions) (Overseas Territories) Order 2012

242

In paragraph 5(1)(e) of Schedule 6 to the Zimbabwe (Sanctions) (Overseas Territories) Order 2012[^f00352] (evidence and information), for “the Financial Services Authority of the United Kingdom” substitute “the Financial Conduct Authority of the United Kingdom, the Prudential Regulation Authority of the United Kingdom”.

The Controlled Foreign Companies (Excluded Banking Business Profits) Regulations 2012

243

In regulation 2 of the Controlled Foreign Companies (Excluded Banking Business Profits) Regulations 2012^f00353—

(a) in paragraph (1)—

(i) in the definition of “BIPRU 11” for “FSA Handbook;” substitute “PRA Handbook;”;

(ii) for the definition of “the FSA Handbook” substitute—

“the PRA Handbook” means the Handbook made by the Prudential Regulation Authority under the Financial Services and Markets 2000 Act (as that Handbook has effect from time to time);

(iii) in the definition of “GENPRU 2 Annex 2” for “FSA Handbook” substitute “PRA Handbook”;

(b) in paragraph (2), for “FSA Handbook” substitute “PRA Handbook”.

The Somalia (Sanctions) (Overseas Territories) Order 2012

244

In paragraph 5(1)(e) of Schedule 6 to the Somalia (Sanctions) (Overseas Territories) Order 2012[^f00354] (evidence and information), for “the Financial Services Authority of the United Kingdom” substitute “the Financial Conduct Authority of the United Kingdom, the Prudential Regulation Authority of the United Kingdom”.

The Democratic People’s Republic of Korea (Sanctions) (Overseas Territories) Order 2012

245

In paragraph 5(1)(e) of Schedule 6 to the Democratic People’s Republic of Korea (Sanctions) (Overseas Territories) Order 2012[^f00355] (evidence and information), for “the Financial Services Authority of the United Kingdom” substitute “the Financial Conduct Authority of the United Kingdom, the Prudential Regulation Authority of the United Kingdom”.

The Côte d’Ivoire (Sanctions) (Overseas Territories) Order 2012

246

In paragraph 5(1)(e) of Schedule 6 to the Côte d’Ivoire (Sanctions) (Overseas Territories) Order 2012[^f00356] (evidence and information), for “the Financial Services Authority of the United Kingdom” substitute “the Financial Conduct Authority of the United Kingdom, the Prudential Regulation Authority of the United Kingdom”.

The Guinea-Bissau (Sanctions) (Overseas Territories) Order 2012

247

In paragraph 5(1)(e) of Schedule 5 to the Guinea-Bissau (Sanctions) (Overseas Territories) Order 2012[^f00357] (evidence and information), for “the Financial Services Authority of the United Kingdom” substitute “the Financial Conduct Authority of the United Kingdom, the Prudential Regulation Authority of the United Kingdom”.

The Payments in Euro (Credit Transfers and Direct Debits) Regulations 2012

248

(1) The Payments in Euro (Credit Transfers and Direct Debits) Regulations 2012[^f00358] are amended as follows.

(2) In regulation 2(1) (interpretation), in the definition of “the Authority”, for “Financial Services Authority” substitute “Financial Conduct Authority”.

(3) In regulation 14 (costs of supervision)—

(a) in paragraphs (1), (2)(a) and (2)(b) for “paragraph 17 of Part 3 of Schedule 1” substitute “paragraph 23 of Part 3 of Schedule 1ZA”[^f00359];

(b) in paragraph (2)(a), for “2(3) (the Authority’s general duties)” substitute “1B(5)(a) (regulatory principles to be applied by FCA)”;

(d) in paragraph (2)(c), for “paragraph 17(2) and (3) of Part 3 of Schedule 1” substitute “paragraph 23(7) of Part 3 of Schedule 1ZA”.

(4) In regulation 16 (exemption from liability in damages), for “19” substitute “25” and for “Schedule 1” substitute “Schedule 1ZA”.

(5) In regulation 17 (exchange of information), after “Authority” in both places insert “and the Prudential Regulation Authority”.

(6) In the Schedule (application and modification of legislation)—

(a) in paragraph 1(a)(iii), after “subsections” insert “(2A),”;

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

(d) in paragraph 2(b), for “Authority’s” substitute “PRA’s”;

(e) for paragraph 2(c) substitute—

(c) in sections 166 (reports by skilled persons) and 166A (appointment of skilled person to collect and update information)— (i) for “an authorised person” in each place those words appear, substitute “a payment service provider (within the meaning given by regulation 2 of the Payments in Euro (Credit Transfers and Direct Debits) Regulations 2012)”; (ii) omit subsections (10) and (11) of section 166;

(f) in paragraph 2(e)(i)(bb), for ““191”” substitute ““191F””;

(g) for paragraph 2(e)(iii) substitute—

(iii) for subsection (6), substitute— (6) “Investigating authority” means the FCA.

(h) for paragraph 3 substitute—

(3) Sections 210 (statements of policy) and 211 (statements of policy: procedure) apply in respect of the imposition and amount of penalties under regulation 6 as they apply in respect of the imposition and amount of penalties under section 206 (financial penalties) of the 2000 Act with the following modifications to section 210— (a) a reference to a regulator is to the FCA; and (b) after subsection (8) insert— (9) Until such time a statement of policy has been issued in respect of the imposition and amount of penalties under regulation 6 of the Payments in Euro (Credit Transfers and Direct Debits) Regulations 2012, any statement issued under this section as applied by paragraph 3 of the Schedule to the Cross-Border Payments in Euro Regulations 2010 shall also apply for the purposes of this section.

(i) in paragraph 4(a)(i), for “competent authority” substitute “PRA”;

(j) in paragraph 4(a)(iii)(bb), for “(b)” substitute “(aa)”;

(k) for paragraph 4(a)(iii)(cc), substitute—

(cc) for paragraph (d), substitute— (d) a person appointed to make a report under section 166 or 166A;

(l) in paragraph 4(a)(iii)(ee), for “paragraph (f)” substitute “paragraphs (ea) and (f)”;

(m) for paragraph 4(iv), substitute—

(iv) for subsection (6) substitute— (6) In subsection (5)(f), “expert” includes any body or person appointed under regulation 4(2) of the Payment in Euros (Credit Transfers and Direct Debits) Regulations 2012.

(n) in paragraph 5(c), after “(5),” insert “(5A), (6A),”;

(o) in paragraph 5(e), for “Authority’s” substitute “FCA’s and PRA’s”;

(p) for paragraph 7(a)(ii), substitute—

(ii) omit subsection (5); and

(q) in paragraph 8, before “under the 2000 Act” insert “given by the Authority”.

The Criminal Legal Aid (General) Regulations 2013

249

In regulation 9(r) of the Criminal Legal Aid (General) Regulations 2013[^f00360] (criminal proceedings)—

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

(b) after sub-paragraph (i) insert—

(ia) a decision of the Prudential Regulation Authority;

The Rehabilitation of Offenders Act 1974 (Exclusions and Exceptions) (Scotland) Order 2013

250

(1) The Rehabilitation of Offenders Act 1974 (Exclusions and Exceptions) (Scotland) Order 2013[^f00361] is amended as follows.

(2) In article 2(1)—

(a) omit the definition of “the competent authority for listing”;

(b) at the appropriate place in each case insert —

“the FCA” means the Financial Conduct Authority;

“the PRA” means the Prudential Regulation Authority;

“key worker” means— any individual who is likely, in the course of exercising the duties of that individual’s office or employment, to play a significant role in the decision making process of the FCA, the PRA or the Bank of England in relation to the exercise of its public functions (within the meaning of section 349(5) of the 2000 Act[^f00362]); or any individual who is likely, in the course of exercising the duties of that individual’s office or employment, to support directly an individual mentioned in paragraph (a);

(d) For the definition of “Part IV permission” substitute—

“Part 4A permission” has the meaning given by section 55A(5) of the 2000 Act[^f00363];

(3) In Schedule 2, in Part 1—

(a) in paragraph 1—

(i) for “Any decision by the Financial Services Authority” substitute “Any decision by the FCA, the PRA or the Bank of England”;

(ii) in sub-paragraph (a) for “Part IV permission” substitute “Part 4A permission”;

(iii) in sub-paragraph (b) for “section 43” substitute “section 55L, 55M or 55O[^f00364]”;

(iv) in sub-paragraph (d) omit “the Financial Services Authority’s”;

(v) in sub-paragraph (j) after “section 296” insert “or 296A[^f00365]”;

(vi) in sub-paragraph (l) for “the Financial Services Authority” substitute “the FCA or the PRA”;

(vii) at the end of sub-paragraph (o) omit “or”;

(viii) after sub-paragraph (p) insert—

(q) in a case requiring any decision referred to in paragraphs (a) to (p), where the FCA, the PRA or the Bank of England has the function of deciding whether to give consent or conditional consent in relation to the decision which is proposed in that case, to give or refuse to give consent or to give conditional consent, or (r) in a case requiring any decision referred to in paragraphs (a) to (p), where the FCA, the PRA or the Bank of England has the power under the 2000 Act to direct another regulator as to the decision to be taken in that case, to decide whether to give a direction and, if a direction is to be given, what direction to give,

(b) in paragraph 3—

(i) for “Any decision of the competent authority for listing” substitute “Any decision of the FCA”;

(ii) at the end of sub-paragraph (b) omit “or”;

(iii) in sub-paragraph (c) for “the competent authority for listing,” substitute “the FCA in relation to the exercise of its functions under Part 6 of the 2000 Act, or”;

(iv) after sub-paragraph (c) insert—

(d) to refuse to grant a person’s application under information provider rules (within the meaning of section 89P(9) of the 2000 Act) for approval as a Primary information provider, to impose limitations or other restrictions on the giving of information to which such an approval relates or to cancel such an approval,

(d) in paragraph 6(a) and (b) for “Part IV permission” substitute “Part 4A permission”.

(4) In Schedule 2, in Part 2, for the table substitute—

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