Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
As published
128B Relevance of information given and action taken by other regulatory authorities.
(1) The following provisions apply in the case of—
(a) a person whose principal place of business is in a country or territory outside the United Kingdom, or
(b) a person whose principal business is other than investment business;
and in relation to such a person “the relevant regulatory authority” means the appropriate regulatory authority in that country or territory or, as the case may be, in relation to his principal business.
(2) The Secretary of State may regard himself as satisfied with respect to any matter relevant for the purposes of this Part if—
(a) the relevant regulatory authority informs him that it is satisfied with respect to that matter, and
(b) he is satisfied as to the nature and scope of the supervision exercised by that authority.
(3) In making any decision with respect to the exercise of his powers under this Part in relation to any such person, the Secretary of State may take into account whether the relevant regulatory authority has exercised, or proposes to exercise, its powers in relation to that person.
(4) The Secretary of State may enter into such arrangements with other regulatory authorities as he thinks fit for the purposes of this section.
(5) Where any functions under this Part have been transferred to a designated agency, nothing in this section shall be construed as affecting the responsibility of the Secretary of State for the discharge of Community obligations or other international obligations of the United Kingdom.
Your change, as a redline
128B Relevance of information given and action taken by other regulatory authorities.
(1) The following provisions apply in the case of—
(a) a person whose principal place of business is in a country or territory outside the United Kingdom, or
(b) a person whose principal business is other than investment business;
and in relation to such a person “the relevant regulatory authority” means the appropriate regulatory authority in that country or territory or, as the case may be, in relation to his principal business.
(2) The Secretary of State may regard himself as satisfied with respect to any matter relevant for the purposes of this Part if—
(a) the relevant regulatory authority informs him that it is satisfied with respect to that matter, and
(b) he is satisfied as to the nature and scope of the supervision exercised by that authority.
(3) In making any decision with respect to the exercise of his powers under this Part in relation to any such person, the Secretary of State may take into account whether the relevant regulatory authority has exercised, or proposes to exercise, its powers in relation to that person.
(4) The Secretary of State may enter into such arrangements with other regulatory authorities as he thinks fit for the purposes of this section.
(5) Where any functions under this Part have been transferred to a designated agency, nothing in this section shall be construed as affecting the responsibility of the Secretary of State for the discharge of Community obligations or other international obligations of the United Kingdom.
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