The Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023
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2 Financial Services and Markets Act 2000
(1) The Financial Services and Markets Act 2000 is amended as follows. (2) In section 55J (variation or cancellation on initiative of regulator)— (a) in subsection (6A)(e) (variation or cancellation in respect of UK AIFMs), omit sub-paragraph (iv) but not the “or” immediately following that sub-paragraph; (b) in subsection (6AA) (definition of AIFMD, ELTIF and MMF requirements for the purposes of subsection (6A)(e)), omit paragraph (b). (3) In section 143C (duty to make rules applying to FCA investment firms), omit subsection (4). (4) In section 143D (duty to make rules applying to parent undertakings), omit subsections (5) and (6). (5) In section 143E (powers to make rules applying to parent undertakings)— (a) in subsection (5)— (i) for “and (6) apply” substitute “applies”; (ii) for “they apply” substitute “it applies”; (b) in subsection (6), omit “(5), ”. (6) In section 398(1A) (misleading FCA or PRA: residual cases), omit paragraph (f).
2 Financial Services and Markets Act 2000
(1) The Financial Services and Markets Act 2000 is amended as follows. (2) In section 55J (variation or cancellation on initiative of regulator)— (a) in subsection (6A)(e) (variation or cancellation in respect of UK AIFMs), omit sub-paragraph (iv) but not the “or” immediately following that sub-paragraph; (b) in subsection (6AA) (definition of AIFMD, ELTIF and MMF requirements for the purposes of subsection (6A)(e)), omit paragraph (b). (3) In section 143C (duty to make rules applying to FCA investment firms), omit subsection (4). (4) In section 143D (duty to make rules applying to parent undertakings), omit subsections (5) and (6). (5) In section 143E (powers to make rules applying to parent undertakings)— (a) in subsection (5)— (i) for “and (6) apply” substitute “applies”; (ii) for “they apply” substitute “it applies”; (b) in subsection (6), omit “(5), ”. (6) In section 398(1A) (misleading FCA or PRA: residual cases), omit paragraph (f).
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