Part 3: Banking Section 18: Banking companies: expenses relating to compensation Details of the section Section 133N
New section 133N provides power to make changes to the legislation where these are required as a consequence of changes to the regulatory legislation, guidance or requirements or to make changes to the scope of the provisions.
	Subsection (1) explains the scope of consequential changes which may be made under this power.
	Subsection (2) explains the scope of other changes which may be made under this power.
	Subsection (3) clarifies that regulations under the section may include transitional provision.
	Subsections (4) and (5) explain the Parliamentary procedures applicable to regulations made under the relevant subsections. Consequential changes and extensions of the scope of excluded expenses in new section 133D are subject to negative procedure, with other changes subject to affirmative procedure.
	Subsection (6) defines "the FCA Handbook" and "the PRA Handbook".
	New Subsection (2) of section 18 provides the commencement provision.
	Subsection (3) of section 18 explains that for companies, the commencement date is 8 July 2015, and for firms with a corporate partner, the commencement date is 15 July 2015.
	Subsection (4) of section 18 provides that paragraph 5 applies to companies with accounting periods straddling the commencement date.
	Subsection (5) of section 18 provides that apportionment is to be made between the pre- and post-commencement periods on a just and reasonable basis.