Section 138S: Application of Chapters 1 and 2

Financial Services and Markets Act 2000 · 2000 c. 8View on legislation.gov.uk

Part 9A: Rules and Guidance — CHAPTER 2A: Technical Standards

The sections listed in subsection (2) apply, subject to the modifications specified in that subsection, to—

technical standards made by the FCA or the PRA as they apply to rules made by the FCA or the PRA;
technical standards made by the Bank of England, as they apply to rules made by the Bank under this Act in accordance with paragraph 10(1), (3) and (4) of Schedule 17A to this Act.

The sections referred to in subsection (1) are—

section 137T (general supplementary powers), as if—
the reference in paragraph (a) to authorised persons were a reference to persons,
the reference in paragraph (b) to rules included a reference to technical standards;
section 138C (evidential provisions);
section 138E (limit on effect of contravening rules);
section 138F (notification of rules);
section 138H (verification of rules), treating the reference in subsection (2)(c) to section 138G(4) of the Act as a reference to section 138Q(4);
section 138I (consultation by the FCA), as if—
subsection (1)(a) were omitted, and
references to making rules were references to submitting a standards instrument to the Treasury for approval;
section 138J (consultation by the PRA), as if—
subsection (1)(a) were omitted, and
references to making rules were references to submitting a standards instrument to the Treasury for approval;
section 138K (consultation: mutual societies);
section 138L (consultation: general exemptions), as if—
in subsection (1), for "425A" there were substituted "1G";
references to making rules were references to submitting a standards instrument to the Treasury for approval.

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