15(1)Section 415B of FSMA 2000 (consultation in relation to taking certain enforcement action) is amended as follows.
(2)In subsection (4)—
(a)in paragraph (b), for “significant-influence” substitute “relevant senior management”, and
(b)omit the definitions appearing after that paragraph.
(3)After subsection (4) insert—
“(5)In subsection (4)—
“arrangement” has the same meaning as in section 59;
“relevant senior management function” means a function which the FCA is satisfied is a senior management function as defined in section 59ZA (whether or not it has been designated as such under section 59(6A) or (6B)).”