1
In section 325 (general duty)— (a) for “Authority”, in each place, substitute “ FCA ” , and (b) in the heading, for “Authority's” substitute “FCA's”.
Financial Services Act 2012 SCHEDULE 16 — Provision of financial services by members of the professions
2
In section 328 (directions relating to the general prohibition), for “Authority”, in each place, substitute “ FCA ” .
3
In section 329 (orders relating to the general prohibition), for “Authority”, in each place, substitute “ FCA ” .
4
In section 330 (consultation)— (a) for “Authority”, in each place, substitute “ FCA ” , and (b) for subsection (10) substitute— (10) Cost benefit analysis” means— (a) an analysis of the costs together with an analysis of the benefits that will arise— (i) if the proposed direction is given, or (ii) if subsection (5)(b) applies, from the direction that has been given, and (b) subject to subsection (10A), an estimate of those costs and of those benefits. (10A) If, in the opinion of the FCA— (a) the costs or benefits referred to in subsection (10) cannot reasonably be estimated, or (b) it is not reasonably practicable to produce an estimate, the cost benefit analysis need not estimate them, but must include a statement of the FCA's opinion and an explanation of it.
5
In section 331 (procedure for making orders), for “Authority”, in each place, substitute “ FCA ” .
6
In section 332 (rules relating to persons to whom the general prohibition does not apply), for “Authority”, in each place, substitute “ FCA ” .
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