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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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(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 2011³²³, 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 2011³²⁴, 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 2011³²⁵—

(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 2011³²⁶—

(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 2011³²⁷, 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 2011³²⁸—

(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 2011³²⁹ 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 2012³³⁰, 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 2012³³¹, 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 2012³³² (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 2012³³³ (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 2012³³⁴ (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 2012³³⁵, 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 2012³³⁶, 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 2012³³⁷ 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 2012³³⁸, 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 2012³³⁹, 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 2012³⁴⁰, 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 2012³⁴¹, 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 2012³⁴² (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 2012³⁴³—

(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 2012³⁴⁴—

(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 2012³⁴⁵ (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 2012³⁴⁶ (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 2012³⁴⁷—

(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 2012³⁴⁸ (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 2012³⁴⁹ (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 2012³⁵⁰ (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 2012³⁵¹(interpretation)—

(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 2012³⁵² (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 2012³⁵³ (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 2012³⁵⁴ (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 2012³⁵⁵ (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 2012³⁵⁶ 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”³⁵⁷;

(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 2013³⁵⁸ (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 2013³⁵⁹ 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 Act³⁶⁰); 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 Act³⁶¹;

(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 55O³⁶²”;

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

(v) in sub-paragraph (j) after “section 296” insert “or 296A³⁶³”;

(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—

Column 1 (Status)	Column 1 (Status)	Column 1 (Status)	Column 2 (Questioner)
1	A person with Part 4A permission.	A person with Part 4A permission.	The FCA, the PRA or the Bank of England.
2	(1)	A person in relation to whom an approval is given under section 59 of the 2000 Act³⁶⁴ (approval for particular arrangements).	The FCA, the PRA or the authorised person (within the meaning of section 31(2) of the 2000 Act³⁶⁵) or the applicant for Part 4A permission who made the application for the approval of the appropriate regulator (within the meaning of section 59(4) of the 2000 Act) under section 59 of the 2000 Act in relation to the person mentioned in sub-paragraph (1) of the first column.
	(2)	An associate of the person (whether or not an individual) mentioned in sub-paragraph (1).	The FCA, the PRA or the authorised person (within the meaning of section 31(2) of the 2000 Act³⁶⁵) or the applicant for Part 4A permission who made the application for the approval of the appropriate regulator (within the meaning of section 59(4) of the 2000 Act) under section 59 of the 2000 Act in relation to the person mentioned in sub-paragraph (1) of the first column.
3	(1)	The manager or trustee of an authorised unit trust scheme (within the meaning of section 237 of the 2000 Act³⁶⁶).	The FCA or the unit trust scheme mentioned in the first column.
	(2)	An associate of the person (whether or not an individual) mentioned in sub-paragraph (1).	The FCA or the unit trust scheme mentioned in the first column.
4	(1)	A director of an open-ended investment company.	The FCA, the PRA or the open-ended investment company mentioned in the first column.
	(2)	An associate of that person (whether or not an individual) mentioned in sub-paragraph (1).	The FCA, the PRA or the open-ended investment company mentioned in the first column.
5.	An associate of the operator or trustee of a relevant collective investment scheme.	An associate of the operator or trustee of a relevant collective investment scheme.	The FCA, the PRA or the collective investment scheme mentioned in the first column.
6.	An associate of a UK recognised investment exchange or UK recognised clearing house.	An associate of a UK recognised investment exchange or UK recognised clearing house.	The FCA, the PRA, the Bank of England or the investment exchange or clearing house mentioned in the first column.
7.	A controller of a person with Part 4A permission.	A controller of a person with Part 4A permission.	The FCA, the PRA or the person with Part 4A permission mentioned in the first column.
8.	(1)	A person who carries on a regulated activity (within the meaning of section 22 of the 2000 Act³⁶⁷) but to whom the general prohibition does not apply by virtue of section 327 (exemption from the general prohibition for members of a designated professional body).	(1) The FCA or the PRA.
	(2)	An associate of the person (whether or not an individual) mentioned in sub-paragraph (1).	(2) In the case of a person mentioned in sub-paragraph (2) of the first column, the person mentioned in sub-paragraph (1) of that column.
9.	A key worker of the FCA, the PRA or the Bank of England.	A key worker of the FCA, the PRA or the Bank of England.	The FCA, the PRA or the Bank of England.
10.	An ombudsman (within the meaning of Schedule 17 to the 2000 Act) of the Financial Ombudsman Service.	An ombudsman (within the meaning of Schedule 17 to the 2000 Act) of the Financial Ombudsman Service.	The scheme operator (within the meaning of section 225 of the 2000 Act) of the Financial Ombudsman Service.
11.	An associate of the issuer of securities which have been admitted to the official list maintained by the FCA for listing under section 74 of the 2000 Act³⁶⁸.	An associate of the issuer of securities which have been admitted to the official list maintained by the FCA for listing under section 74 of the 2000 Act³⁶⁸.	The FCA.
12.	A sponsor (within the meaning of section 88(2) of the 2000 Act³⁶⁹).	A sponsor (within the meaning of section 88(2) of the 2000 Act³⁶⁹).	The FCA.
13.	(1)	A Primary information provider (within the meaning of section 89P of the 2000 Act).	The FCA or the PRA.
	(2)	An associate of the person (whether or not an individual) mentioned in sub-paragraph (1).	In the case of a person mentioned in sub-paragraph (2) of the first column, the person mentioned in sub-paragraph (1) of that column.
14.	An associate of a person who has Part 4A permission and who is admitted to Lloyd’s as an underwriting agent (within the meaning of section 2 of Lloyd’s Act 1982).	An associate of a person who has Part 4A permission and who is admitted to Lloyd’s as an underwriting agent (within the meaning of section 2 of Lloyd’s Act 1982).	(1) The Council of Lloyd’s. (2) The person with Part 4A permission specified in the first column (or a person applying for such permission).
15.	An associate of the Council of Lloyd’s.	An associate of the Council of Lloyd’s.	The Council of Lloyd’s.
16.	(1)	A member of a UK recognised investment exchange or UK recognised clearing house.	(1) The UK recognised investment exchange or UK recognised clearing house specified in the first column.
	(2)	An associate of the person (whether or not an individual) mentioned in sub-paragraph (1).	(2) In the case of a person mentioned in sub-paragraph (2) of the first column, the person mentioned in sub-paragraph (1) of that column.
17	A director or a person responsible for the management of the electronic money or payment services business of an electronic money institution.	A director or a person responsible for the management of the electronic money or payment services business of an electronic money institution.	The FCA.
18	A controller of an electronic money institution.	A controller of an electronic money institution.	The FCA.
19	A director or a person responsible for the management of an authorised payment institution or a small payment institution.	A director or a person responsible for the management of an authorised payment institution or a small payment institution.	The FCA.
20	A person responsible for the management of payment services provided, or to be provided, by an authorised payment institution or a small payment institution.	A person responsible for the management of payment services provided, or to be provided, by an authorised payment institution or a small payment institution.	The FCA.
21	A controller of an authorised payment institution or a small payment institution.	A controller of an authorised payment institution or a small payment institution.	The FCA.

(5) In Schedule 3, in paragraph 6(1)(a), for “the Financial Services Authority” substitute “the FCA, the PRA, the Bank of England”.

The Belarus (Asset-Freezing) Regulations 2013

251

In paragraph 5(1)(e) of the Schedule to the Belarus (Asset-Freezing) Regulations 2013³⁷⁰ (general power to disclose information), for “the Financial Services Authority” substitute “the Financial Conduct Authority, the Prudential Regulation Authority”.

The Guinea (Sanctions) (Overseas Territories) Order 2013

252

In paragraph 5(1)(e) of Schedule 6 to the Guinea (Sanctions) (Overseas Territories) Order 2013³⁷¹ (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”.

Signed

Stephen Crabb — David Evennett — Two of the Lords Commissioners of Her Majesty’s Treasury — 7th March 2013

Explanatory note

(This note is not part of the Order)

EXPLANATORY NOTE

This Order makes consequential amendments to subordinate legislation in connection with the Financial Services Act 2012 (c.21) (“the Act”) and provision made under the Act. The Order also makes transitional provision in connection with those amendments.

Article 2 gives effect to the Schedule 1 to this Order. Schedule 1 provides for the subordinate legislation specified in column 1 of the table to the Schedule to be revoked to the extent indicated in the second column of the table.

Article 3 gives effect to Schedule 2 to this Order. Schedule 2 amends subordinate legislation in consequence of the Act. The amendments include amendments to references to provisions of the Financial Services and Markets Act 2000 which have been amended or repealed by Act or to Financial Services Authority Instruments that are amended in connection with Act. The amendments also amend references to rules made by the Financial Services Authority under the Financial Services and Markets Act 2000. The Act transfers a number of the functions of the Financial Services Authority to the Prudential Regulation Authority and the Bank of England and renames the Financial Services Authority as the Financial Conduct Authority. Schedule 2 also contains transitional provisions related to those amendments.

Article 4 makes provision for amendments to references to Part IV of the Financial Services and Markets Act 2000 to reflect the new numbering, “Part 4A” of the 2000 Act, in consequence of the Act.

The Act substitutes a new Part 9A of the Financial Services and Markets Act 2000 in place of Part 10. Article 5 makes provision for amendments to references to Part X of the Financial Services and Markets Act 2000 to reflect the new numbering.

Article 6 makes provision for amendments to references to “UK Listing Authority” or “Competent Authority for Listing in the UK” in consequence of the Financial Conduct Authority taking on this function under the Act.

A full impact assessment of the effect that this Order will have on the costs of business and the voluntary sector is available from Her Majesty’s Treasury 1 Horse Guards Road, London SW1A 2HQ or on www.hm-treasury.gov.uk and is published alongside this Order on www.legislation.gov.uk.

Footnotes

2012 c.21.

1978 c.30. See section 21.

S.I. 1975/1023, amended by S.I. 1986/2268, 2001/1149, 2001/3816, 2002/441, 2003/231, 2007/2149, 2008/3259, 2011/99 and 2011/1800; there are other amending instruments but none are relevant.

Section 349(5) was amended by S.I. 2011/1043.

Part 4A of FSMA 2000, including section 55A, was substituted by section 11(2) of the Financial Services Act 2012 (c. 21).

Section 59 was amended by section 14 of the Financial Services Act 2012.

Section 31 was amended by section 11 of the Financial Services Act 2012.

Section 237 was amended by S.I. 2011/1613 and by paragraph 9 of Schedule 18 to the Financial Services Act 2012.

Section 22 was amended by section 7 of the Financial Services Act 2012.

Section 74 was amended by S.I. 2005/381 and 2005/1433 and by section 16 of the Financial Services Act 2012.

Section 88(2) was amended by section 16(1), (2)(a) and (3)(f) of the Financial Services Act 2012.

Section 89P was inserted by section 19 of the Financial Services Act 2012.

Section 43 was repealed and sections 55L, 55M and 55O were added by section 11 of the Financial Services Act 2012.

Section 296A was inserted by section 31 of the Financial Services Act 2012.

S.I. 1976/191.

S.R. 1979 No. 195 as amended by S.R. 1987 No. 393, 2001 No. 248, 2001 No. 400, 2003 No. 355, 2006 No. 421, 2009 No. 173 and 2009 No. 303.