s 271C Approval of country: regulatory co-operation
(1) The Treasury may not make regulations under section 271A approving a country or territory and specifying a description of collective investment scheme unless satisfied that adequate arrangements exist, or will exist, for co-operation between the FCA and the overseas regulator. (2) In this section, “ the overseas regulator ” means the authority responsible for the authorisation and supervision of schemes of that description in the country or territory.