This section applies where a person—
Any rules of the regulator which fall within subsection (2) shall not have effect in relation to that person.
Rules of a regulator fall within this subsection if they are—
and either of the conditions specified in subsection (3) is satisfied.
Those conditions are—
For the purposes of this section “relevant approved regulator” is to be construed in accordance with section 20(3) of the Legal Services Act 2007.