SCHEDULES

SCHEDULE 5Performance of regulated activities

I16

1

Section 62 (applications for approval: procedure and right to refer to Tribunal) is amended as follows.

2

In subsection (1), for the words from “If” to “, it” substitute “ If the regulator to which an application is made under section 60 (“an application”) decides to grant the application, it ”.

3

In subsections (2) to (4)—

a

for “the Authority” substitute “ the regulator to which an application is made ”, and

b

for “an application” substitute “ the application ”.