SCHEDULE 3 Consequential Amendments Relating to Part 4
Financial Services (Banking Reform) Act 2013 (2013 c 33) | Legislation

SCHEDULE 3 Consequential Amendments Relating to Part 4

Section 35

Financial Services and Markets Act 2000

1

(1)     Section 59 of FSMA 2000 (approval for particular arrangements) is amended as follows.

(2)     In subsection (1), for the words from “the appropriate regulator†to the end substitute “that person is acting in accordance with an approval given by the appropriate regulator under this section.â€

(3)     In subsection (2), for the words from “the appropriate regulator†to the end substitute “that person is acting in accordance with an approval given by the appropriate regulator under this section.â€

2

(1)     Section 59A of FSMA 2000 (specifying functions as controlled functions: supplementary) is amended as follows.

(2)     In subsection (1)(a) and (b), for “significant-influence†substitute “senior managementâ€.

(3)     After subsection (3) insert—

“(3A)     Senior management function†has the meaning given by section 59ZA.â€

3

(1)     Section 63 of FSMA 2000 (withdrawal of approval) is amended as follows.

(2)     In subsection (1A)(a), for “significant-influence function†substitute “relevant senior management functionâ€.

(3)     For subsection (1B) substitute—

“(1B)     In subsection (1A) “relevant senior management function†means a function which the PRA is satisfied is a senior management function as defined in

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