Schedule 8: Cash access services Part 2 – Consequential amendments to FSMA 2000
Part 2 of this Schedule makes consequential amendments to FSMA 2000 as a result of the introduction of Part 8B.
Paragraph 2 introduces amendments to FSMA 2000.
Paragraph 3 amends subsection (4) of section 3D of FSMA 2000, to enable the FCA to coordinate with the Prudential Regulation Authority (PRA) regarding the FCA’s functions under this part.
Paragraph 4 amends subsection 55H(4) to allow the FCA to refuse an application to vary a permission under Part 4A if it appears to the FCA that it is desirable to do so in order to advance the FCA’s purpose under this Part.
Paragraph 5 amends subsection 55L(6) to allow the FCA to refuse an application to impose, vary or cancel a requirement in relation to a Part 4A permission if it appears to the FCA that it is desirable to do so in order to advance the FCA’s purpose under this Part.
Paragraph 6 amends section 55T as a consequence of the amendments in paragraphs 4 and 5.
Paragraph 7 amends section 232A so that the ombudsman scheme operator’s duty to provide information to FCA applies in relation to information relevant to this Part.
Paragraph 8 amends subsection 395 in order to enable the application of the existing process for decision making with regards to directions issued under section 131W.
Paragraph 9 amends subsection 429(2) to apply the affirmative procedure to regulations made under 131O.