The Financial Services and Markets Act 2000 M1 is amended as follows.

In section 3E (memorandum of understanding) M2, omit subsection (2)(f) and (k).

Omit section 34 (EEA firms) M3.

Omit section 35 (Treaty firms) M4.

In section 55A (application for permission) M5, omit subsection (4).

In section 55Q (exercise of power in support of overseas regulator) M6, omit subsection (2).

In section 55R (persons connected with an applicant) M7, omit subsections (2) to (3B).

In section 137A (the FCA's general rules) M9, omit subsection (5).

In section 137G (the PRA's general rules) M10, omit subsection (5).

In section 168 (appointment of persons to carry out investigations in particular cases) M11, in subsection (1)(b), omit “or under Schedule 4”.

Omit Part 13 (incoming firms: intervention by FCA or PRA), except for, in section 195 (exercise of power in support of overseas regulator), subsections (3) and (4).

Omit Part 13A (enhanced supervision of firms exercising rights under the Insurance Distribution Directive) M12.

In section 213 (the compensation scheme) M13, omit subsections (10) and (11).

In section 214 (provisions of the scheme: general), omit subsection (5).

In section 224 (scheme manager's power to inspect documents held by Official Receiver etc.), omit subsection (4).

In section 234K (duty to consider exercise of powers under Competition Act 1998) M14, in subsection (3), omit paragraph (f).

In section 313D (interpretation of Part 18A) M15, in subsection (1), in the definition of “institution”, omit from “but does not include” to the end.

Omit section 368 (winding-up petitions: EEA and Treaty firms) M16.

In Schedule 1ZA (the Financial Conduct Authority) M18, in Part 3 (penalties and fees), omit paragraph 24(a) (together with the final “or”).

In Schedule 1ZB (the Prudential Regulation Authority) M19, in Part 3 (penalties and fees), omit paragraph 32(a) (together with the final “or”).

In section 5 of the Agricultural Credits Act 1928 M22 (agricultural charges on farming stock and assets), in the definition of “Bank” in subsection (7), omit paragraph (c).

In section 21 of the Administration of Justice Act 1985 M25 (professional indemnity and compensation), in subsection (5), omit paragraphs (b) (together with the final “or”) and (c).

In section 2 of the Access to Medical Reports Act 1988 M28 (interpretation), in the definition of “insurer” in subsection (1), omit paragraph (b).

In section 95 of the Road Traffic Act 1988 M29 (notification of refusal of insurance on grounds of health), in subsection (3), omit paragraph (b) and the “or” before it.

In Schedule 1 to the Social Security (Recovery of Benefits) Act 1997 M32 (compensation payments), in paragraph 5, omit sub-paragraph (2)(b) at the “or” before it.

In section 29 of the Trustee Act 2000 M34 (remuneration of certain trustees), in subsection (3A), omit paragraph (b) and the “or” before it.

In Schedule 1 to the Anti-terrorism, Crime and Security Act 2001 M35 (forfeiture of terrorist property), in paragraph 10R (meaning of “bank”), omit sub-paragraph (2)(c).

In Schedule 10 to the Health and Social Care (Community Health and Standards) Act 2003 M36 (recovery of NHS charges: exempted payments), in paragraph 4, omit sub-paragraph (b) and the “or” before it.

In section 64 of the Legal Services Act 2007 M37 (modification of the Board's functions under section 62(1)(b)), in the definition of “authorised insurer” in subsection (5), omit paragraphs (b) and (c).

In section 41 of the Terrorist Asset-Freezing etc. Act 2010 M39 (meaning of “relevant institution”), in subsection (1), omit paragraph (b) (but not the final “or”).

In section 109 of the Charities Act 2011 M40 (dormant bank accounts: supplementary), in subsection (3), omit paragraph (c) (but not the final “or”).

In section 145 of the Health and Social Care Act 2012 M41 (borrowing), in subsection (3), omit paragraph (b) and the “or” before it.

In regulation 10 of the Social Security (Payments on account, Overpayments and Recovery) Regulations 1988 M43 (conversion of payments made in a foreign currency), in paragraph (2), omit sub-paragraph (b) and the “or” before it.

In article 3 of the Social Landlords (Additional Purposes or Objects) Order 1999 M44 (priority of mortgages), in the definition of “qualifying lending institution” in paragraph (3) (other than as that definition applies to bodies eligible for registration as social landlords by the Housing Corporation in England), omit paragraph (c) and the “or” before it.

In regulation 2 of the National Health Service Pension Scheme (Additional Voluntary Contributions) Regulations 2000 M45 (interpretation), in the definition of “insurer” in paragraph (1), omit paragraph (b) and the “or” before it.

In paragraph 2 of the Pig Industry Restructuring (Capital Grant) Scheme 2001 M46 (interpretation), in the definition of “bank” in sub-paragraph (1), omit paragraph (ii).

In article 2 of the North Korea (United Nations Measures) Order 2006 M49 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) and the “and” before it.

In article 2 of the Iran (Financial Sanctions) Order 2007 M50 (interpretation), in the definition of “relevant institution” in paragraph (1), omit from “and an EEA firm” to the end.

In regulation 4 of the Companies (Authorised Minimum) Regulations 2008 M52 (the appropriate spot rate of exchange), in paragraph (3), omit sub-paragraph (b) and the “or” before it.

In regulation 2 of the Zimbabwe (Financial Sanctions) Regulations 2009 M53 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) and the “and” before it.

In regulation 4 of the Companies (Authorised Minimum) Regulations 2009 M54 (the appropriate spot rate of exchange), in paragraph (3), omit sub-paragraph (b) and the “or” before it.

In regulation 2 of the Somalia (Asset-Freezing) Regulations 2010 M55 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In article 2 of the Libya (Financial Sanctions) Order 2011 M56 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 2 of the Egypt (Asset-Freezing) Regulations 2011 M57 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 2 of the Tunisia (Asset-Freezing) Regulations 2011 M58 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 2 of the Iran (Asset-Freezing) Regulations 2011 M59 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 2 of the Afghanistan (Asset-Freezing) Regulations 2011 M60 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In the Schedule to the Legal Services Act 2007 (Designation as a Licensing Authority) Order 2011 M61, in paragraph 2, omit sub-paragraph (4)(a)(iii) (but not the final “and”).

In regulation 2 of the ISIL (Da'esh) and Al-Qaida (Asset-Freezing) Regulations 2011 M62 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In article 4 of the Legal Services Act 2007 (Designation as a Licensing Authority) (No. 2) Order 2011 M63 (bank accounts of licensed bodies), in paragraph (4), omit sub-paragraph (a)(iii) (but not the final “and”).

In regulation 2 of the Syria (European Union Financial Sanctions) Regulations 2012 M64 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 2 of the Guinea-Bissau (Asset-Freezing) Regulations 2012 M65 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 2 of the Iraq (Asset-Freezing) Regulations 2012 M66 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 2 of the Republic of Guinea (Asset-Freezing) Regulations 2012 M67 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 2 of the Democratic Republic of the Congo (Asset-Freezing) Regulations 2012 M68 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 2 of the Eritrea (Asset-Freezing) Regulations 2012 M69 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 2 of the Lebanon and Syria (Asset-Freezing) Regulations 2012 M70 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 2 of the Belarus (Asset-Freezing) Regulations 2013 M71 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In Part 3 of Schedule 2 to the Local Government Pension Scheme Regulations 2013 M74 (scheme employers), in paragraph 7, omit sub-paragraph (b) (but not the final “or”).

In regulation 2 of the Ukraine (European Union Financial Sanctions) Regulations 2014 M75 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 2 of the Central African Republic (European Union Financial Sanctions) Regulations 2014 M76 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 2 of the Ukraine (European Union Financial Sanctions) (No. 2) Regulations 2014 M77 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 4 of the Prevention of Social Housing Fraud (Power to Require Information) (England) Regulations 2014 M78 (power to require information), in the definition of “bank” in paragraph (11), omit paragraph (b) (but not the final “or”).

In regulation 2 of the Sudan (European Union Financial Sanctions) Regulations 2014 M79 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 2 of the Ukraine (European Union Financial Sanctions) (No. 3) Regulations 2014 M80 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 2 of the Yemen (European Union Financial Sanctions) Regulations 2014 M81 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 2 of the South Sudan (European Union Financial Sanctions) (No. 2) Regulations 2015 M82 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 2 of the Burundi (European Union Financial Sanctions) Regulations 2015 M83 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 2 of the Iran (European Union Financial Sanctions) Regulations 2016 M84 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 2 of the Libya (European Union Financial Sanctions) Regulations 2016 M85 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 6 of the Local Government Pension Scheme (Management and Investment of Funds) Regulations 2016 M86 (separate bank account), in paragraph (2), omit sub-paragraph (b).

In regulation 2 of the Democratic People's Republic of Korea (European Union Financial Sanctions) Regulations 2017 M87 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 70 of the Judicial Pensions (Fee-Paid Judges) Regulations 2017 M88 (interpretation), in the definition of “authorised insurer” in paragraph (1), omit paragraph (b) and the “or” before it.

In regulation 2 of the Republic of Mali (European Union Financial Sanctions) Regulations 2017 M89 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 2 of the Venezuela (European Union Financial Sanctions) Regulations 2017 M90 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).

In regulation 2 of the Burma (European Union Financial Sanctions) Regulations 2018 M91 (interpretation), in the definition of “relevant institution” in paragraph (1), omit paragraph (b) (but not the final “or”).