The Financial Services and Markets Act 2023 (Private Intermittent Securities and Capital Exchange System Sandbox) Regulations 2025
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Change 1
15 Modification of technical standards
(1) The FCA may make such modifications of any technical standards having effect for the purposes of a relevant enactment as it considers it to be necessary or expedient for the purposes of implementing and operating the PISCES sandbox arrangements. (2) The power to modify technical standards in paragraph (1) includes the power to provide for— (a) technical standards not to apply for the purposes of the PISCES sandbox arrangements; (b) modifications in the application of the technical standards for those purposes; (c) the application of the technical standards (with or without modifications) for those purposes. (3) This regulation ceases to have effect when the repeal of section 138P of FSMA 2000 (technical standards) by Part 4 of Schedule 1 to the Act comes into force.
15 Modification of technical standards
(1) The FCA may make such modifications of any technical standards having effect for the purposes of a relevant enactment as it considers it to be necessary or expedient for the purposes of implementing and operating the PISCES sandbox arrangements. (2) The power to modify technical standards in paragraph (1) includes the power to provide for— (a) technical standards not to apply for the purposes of the PISCES sandbox arrangements; (b) modifications in the application of the technical standards for those purposes; (c) the application of the technical standards (with or without modifications) for those purposes. (3) This regulation ceases to have effect when the repeal of section 138P of FSMA 2000 (technical standards) by Part 4 of Schedule 1 to the Act comes into force.
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