Financial Services Act 2012

21(1)Section 405 (directions) is amended as follows.U.K.

(2)In subsection (1)—

(a)for “Authority” substitute “ appropriate regulator ”,

(b)in paragraph (a), for “Part IV” substitute “ Part 4A ”, and

(c)in paragraphs (c) and (d), for “notice of control” substitute “ section 178 notice ”.

(3)In subsection (2)(b), for “notices of control” substitute “ section 178 notices ”.

(4)After subsection (4) insert—

“(4A)The appropriate regulator”—

(a)for the purposes of subsection (1)(a) and (b), is the regulator to which the application for permission under Part 4A is made;

(b)for the purposes of subsection (1)(c) and (d), is the appropriate regulator as defined in section 178(2A).

(4B)“Section 178 notice” means a notice given under section 178.”