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.
(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.
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