paragraph (iii) insert -
iiia
for subsection (5A) substitute -
5A
"Investigating authority" means the FCA.
; and
;
v
in sub-paragraph (d) -
aa
in paragraph (i) for sub-paragraph (aa) substitute -
aa
before paragraph (b) insert -
ab
a person may have contravened any requirement of or imposed under the Electronic Money Regulations 2011;
;
;
bb
in paragraph (i)(bb) for "191" substitute "191F ";
cc
for paragraph (iv) substitute -
iv
for subsection (6), substitute -
6
"Investigating authority" means the FCA.
;
;
vi
in sub-paragraph (e)(i) omit ", 351";
vii
in sub-paragraph (f)(iii) for "the Authority" substitute "the FCA";
d
in paragraph 4 (control over electronic money institutions) -
i
after sub-paragraph (a) insert -
aa
in section 178 for subsection (2A) substitute -
2A
In this Part, "the appropriate regulator" means the FCA.
;
ab
in section 187(2)(b) omit "section 187A(3)(b) or";
ac
omit section 187A ;
;
ii
after sub-paragraph (b) insert -
ba
in section 191A omit subsection (4A);
;
iii
for sub-paragraph (c) substitute -
c
in section 191B (restriction notices) -
i
omit subsection (2A);
ii
after subsection (2B) insert -
2C
In a restriction notice, the FCA must direct that voting power to which the notice relates is, until further notice, not to be exercisable.
;
iii
for subsection (3)(b) substitute -
b
voting power that has been exercised as a result of the acquisition is void;
;
iv
after sub-paragraph (c) insert -
ca
in section 191C omit subsection (2A);
cb
in section 191D omit subsection (1A);
;
v
in sub-paragraph (d), in the inserted section 191EA and in the heading to that section, for "the Authority" substitute "the FCA";
e
in paragraph 5 (auditors and actuaries) -
i
at the end of sub-paragraph (a) omit "and";
ii
after sub-paragraph (a) insert -
aa
for references to "appropriate regulator" or "regulator" substitute "FCA";
ab
omit all references to "recognised investment exchange";
ac
in section 340 omit subsections (3A),(5A) and (8)(b);
ad
in section 344 omit subsection (4);
ae
in section 345 -
i
in subsection (2)(a) omit "or any particular class of authorised person;";
ii
omit subsection (2)(b);
iii
in subsection (3)(a), for "FCA-authorised person" substitute "electronic money institution";
iv
omit subsection (3)(b), (c) and (d);
v
omit subsection (4);
af
omit section 345A ;
ag
in section 345B -
i
in paragraph (1) omit "or the PRA proposes to act under section 345A(3)";
ii
in paragraphs (4) and (7) omit "or the PRA decides to act under section 345A(3)";
ah
in section 345C omit "or 345A(4)(b)";
ai
in section 345D omit subsections (2) and (9);
;
f
in paragraph 6 (restrictions on disclosure of information) -
i
in the heading to section 348, for "Authority" substitute "FCA, PRA";
ii
omit ", 351 (competition information)";
iii
in sub-paragraph (a) -
aa
for paragraph (i) substitute -
i
in subsection (2)(b) for the words from ", the PRA" to the end substitute "under the Electronic Money Regulations 2011; and