5(1)The Regulator may make arrangements for any of its functions to be discharged by—U.K.
(a)a committee, sub-committee, officer or member of staff of the Regulator;
(b)an officer or member of staff of the FCA.
This is subject to sub-paragraphs (2) to (4).
(2)In exercising any functions within sub-paragraph (3), the Regulator must act through its board.
(3)The functions referred to in sub-paragraph (2) are—
(a)giving general directions under section 54;
(b)imposing generally-imposed requirements under section 55.
[F1(c)making technical standards in accordance with section 97A; and
(d)making EU Exit instruments under the Financial Regulators’ Powers (Technical Standards) (Amendment etc.) (EU Exit) Regulations 2018.]
(4)The function of issuing general guidance may not be discharged by an officer or member of staff of the Regulator or of the FCA.
Textual Amendments
F1Sch. 4 para. 5(3)(c)(d) inserted (26.10.2018) by The Financial Regulators Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1115), regs. 1(2), 10(5)(a)
Modifications etc. (not altering text)
C1Sch. 4 paras. 5, 7, 9-14 applied (with modifications) (9.12.2015) by The Payment Card Interchange Fee Regulations 2015 (S.I. 2015/1911), regs. 1, 15(3) (as amended (1.1.2024) by The Electronic Money, Payment Card Interchange Fee and Payment Services (Amendment) Regulations 2023 (S.I. 2023/790), reg. 3(10))
C2Sch. 4 para. 5 applied (with modifications) (13.1.2018) by The Payment Services Regulations 2017 (S.I. 2017/752), regs. 1(6), 136(3) (with reg. 3)
Commencement Information
I1Sch. 4 para. 5 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1