Schedule 8: Cash access services Part 1 – New Part 8B of FSMA 2000 Supervision of designated persons Section 131V: FCA rules
This section gives the FCA powers to make rules that apply to designated persons as the FCA thinks is necessary or expedient in order to achieve the purpose set out in section 131U. The process for the FCA to make rules in relation to this Part reflects the process under the existing FSMA 2000 regime with appropriate modifications to ensure it functions effectively.
	Subsection (2) explains that rules made by the FCA under this section only apply to a designated person in relation to the part of the United Kingdom for which they are designated.
	Subsection (3) applies 137T (general supplementary powers for rules made by a regulator) FSMA 2000 to any rules made by the FCA under this section. This subsection sets out that references to "authorised persons, activity, or investment" in section 137T means designated persons (as defined section 131R) and their activities. Section 137T as it is applied to section 131V supplements the rule-making power, for instance permitting the FCA to make rules that make different provision for different cases and in respect of different descriptions of designated persons.
	Subsection (4) applies section 138A (modification or waiver of rules) FSMA 2000 to any rules made by the FCA under this section, except subsection (4)(b) of that section. Section 138A as it is applied to 131V has the effect of allowing the FCA to modify how rules made under section 131V apply to particular designated persons (or disapply them entirely).
	Subsection (5) applies section 138I (consultation by FCA before making rules) FSMA 2000 to any rules made by the FCA under this section. Section 138I as it is applied to 131V requires the FCA to consult and publish a draft of proposed rules before such rules may take effect, and to accompany any draft rules with explanation of the FCA’s reasons for believing the proposed rules are compatible with the FCA’s purpose to seek to ensure the reasonable provision of cash access services, as set out in section 131U.