Section 133N | Powers to amend

(1)The Treasury may by regulations make such amendments of sections 133A to 133L as they consider appropriate in consequence of—

(a)any change made to, or replacement of, the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) or the Financial Services and Markets Act 2000 (PRA-regulated Activities) Order 2013 (S.I. 2013/556) (or any replacement);

(b)any change made to, or replacement of, the FCA Handbook or the PRA Handbook (or any replacement);

(c)any regulatory requirement, or change to any regulatory requirement, imposed by EU legislation, or by or under any Act (whenever adopted, enacted or made).

(2)The Treasury may by regulations—

(a)amend sections 133A(1) and 133C for the purpose of varying the class of expenses to which section 133A(1) applies;

(b)amend section 133D for the purpose of adding cases to those for the time being listed in subsection (1) of that section;

(c)amend section 133D for any other purpose;

(d)amend any of sections 133E to 133I;

(e)amend section 133M.

(3)Regulations under this section may include transitional provision.

(3A)Regulations under this section made on or before 30 June 2022 may have retrospective effect in relation to any time on or after 1 January 2022.

(4)A statutory instrument containing only regulations under subsection (1) or (2)(b) is subject to annulment in pursuance of a resolution of the House of Commons.

(5)Any other statutory instrument containing regulations under this section may not be made unless a draft of the instrument has been laid before and approved by a resolution of the House of Commons.

(6)In this section—

“the FCA Handbook” means the Handbook made by the Financial Conduct Authority under FISMA 2000 (as that Handbook has effect from time to time);

“the PRA Handbook” means the Handbook made by the Prudential Regulation Authority under FISMA 2000 (as that Handbook has effect from time to time).