Part 1: Regulatory Framework Designated activities regime Section 8: Designated activities New section 71R: Designated activities and rules: connected amendments
This section creates a new power, for the purpose of modifying primary legislation in order to make modifications which are appropriate, taking account of designated activities regulations and rules.
	Subsection (1) gives HM Treasury the power to amend primary legislation including FSMA 2000, if it considers appropriate to do so for the purposes of, or in connection with, designated activity regulations or rules.
	Subsection (2) clarifies that HM Treasury’s power under subsection (1) to amend primary legislation in particular extends to revoking or varying any requirement under FSMA 2000 which extends to a designated activity.
	Subsection (3) further clarifies that HM Treasury’s power to amend FSMA 2000 under subsection (1) allows HM Treasury to modify any criminal offence in FSMA 2000 which relates to a designated activity. Modification in this case includes widening the scope of the criminal offence.
	Subsection (4) is self-explanatory.