Schedule 8: Cash access services Part 1 – New Part 8B of FSMA 2000 Supervision of designated persons Section 131Z2: Exclusion and modification of general duties
This section requires that, when exercising its functions under this Part, the FCA must, so far as is reasonably possible, act in a way which is compatible with its strategic objective and advances its access to cash purpose (section 131U) in place of its operational objectives. The FCA’s competition duty (subsection 1B(4) of FSMA 2000) and economic competitiveness and growth objective (subsection 1B(4A) are also disapplied in relation to this Part.
	Subsection (2) ensures that the FCA’s regulatory principles (in section 3B of FSMA 2000) are appropriately modified, by including a reference to the FCA’s purpose in relation to access to cash (section 131U) in paragraph (g) which relates to the publication of information as a means of contributing to the advancement of the FCA’s objectives.
	Subsection (3) ensures that the existing decision-making procedure in section 395 of FSMA 2000 applies appropriately for a direction made under section 131W.