23 Administration of senior managers regime
Bank of England and Financial Services Act 2016 (2016 c 14) | Legislation

23  Administration of senior managers regime

(1)     The Financial Services and Markets Act 2000 is amended as follows.

(2)     In section 62A(4) (changes in responsibilities of senior managers), at the end of the definition of “the appropriate regulator” insert “, except that the reference in section 60(9)(b) to subsection (3) is to be treated as a reference to subsection (2) of this section”.

(3)     In section 63ZA (variation of senior manager's approval at request of authorised person)—

(a)     in subsection (1), for “application for approval under section 59 is granted” substitute “approval under section 59 has effect”;

(b)     after subsection (1) insert—

“(1A)     Where an approval under section 59 has effect for a limited period, the authorised person concerned may apply to the appropriate regulator to vary the approval

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