PART 2Amendments to the Act
CHAPTER 3Part 4A of the Act: permission to carry on regulated activities
Section 55Q (exercise of power in support of overseas regulator)I120
1
Section 55Q M1 (exercise of power in support of overseas regulator) is amended as follows.
2
Omit subsection (4).
3
In subsection (5), in the words before paragraph (a), for the words from “do so” to “EU obligation, it” substitute “
exercise its own-initiative powers in response to a request, the UK regulator
”
.
4
Omit subsection (7).
5
In subsection (8), for “subsection” substitute “
subsections (5) and
”
.