Part 1: Regulatory Framework Designated activities regime Section 8: Designated activities New section 71O: Designated activities: directions
Subsection (1) gives the FCA a power of direction in relation to designated activities. As supplemented by subsection (3), this power enables the FCA to require a person carrying on a designated activity to take, or refrain from taking, an action specified by the FCA.
	Subsection (2) states that HM Treasury has the power to state, in secondary legislation, when the FCA is able to exercise its power of direction under subsection (1). Subsection (10) expands on this by enabling HM Treasury to set conditions which the FCA must meet when exercising a power of direction. Under subsection (11) this can include, but is not limited to, a requirement to consult the PRA before imposing or varying a requirement under subsection (1) relating to a PRA-authorised person.
	Subsection (4) states that any action required by the FCA’s power of direction under this section need not be in relation to a designated activity itself.
	Subsections (5) to (12) are self-explanatory.