Sch 8 para 14
(1) Section 296 (power to give directions) is amended as follows. (2) In subsection (1), for “the Authority” substitute “ the appropriate regulator ” . (3) In subsection (1A)— (a) for the words from “in the case of a recognised body which is a recognised investment” to “the body” substitute “ if it appears to the appropriate regulator that a recognised body ” , and (b) for the words from “directly applicable” to the end substitute “ directly applicable EU regulation specified (or of a description specified) in an order made by the Treasury ” . (4) In subsection (2), for “The Authority” substitute “ The regulator concerned ” . (5) In subsection (2A)— (a) in the opening words, for “a recognised investment exchange other than an overseas investment exchange” substitute “ a recognised body other than an overseas investment exchange or overseas clearing house ” , (b) in paragraph (a)— (i) for “the Authority”, in both places, substitute “ the regulator concerned ” , and (ii) for “the exchange” substitute “ the body ” , and (c) in paragraph (b), for “the exchange” substitute “ the body ” . (6) In subsection (3), for “the Authority” substitute “ the regulator concerned ” . (7) In subsection (4), for “the Authority” substitute “ an appropriate regulator ” . (8) In the heading, for “Authority's” substitute “Appropriate regulator's”.