Financial Services Act 2010
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Change 1
3 Meeting FSA's regulatory objectives
(1) The Financial Services and Markets Act 2000 is amended as follows. (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (5) In section 194 (general grounds on which power of intervention is exercisable)— (a) in subsection (1), for paragraph (c) substitute— (c) it is desirable to exercise the power in order to meet any of its regulatory objectives. , and (b) after that subsection insert— (1A) For the purposes of subsection (1)(c) it does not matter whether there is a relationship between the incoming firm and the persons whose interests will be protected by the exercise of the power of intervention.
3 Meeting FSA's regulatory objectives
(1) The Financial Services and Markets Act 2000 is amended as follows. (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (5) In section 194 (general grounds on which power of intervention is exercisable)— (a) in subsection (1), for paragraph (c) substitute— (c) it is desirable to exercise the power in order to meet any of its regulatory objectives. , and (b) after that subsection insert— (1A) For the purposes of subsection (1)(c) it does not matter whether there is a relationship between the incoming firm and the persons whose interests will be protected by the exercise of the power of intervention.
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