Schedule 1ZA, Part 3, paragraph 23(5)

For the purposes of sub-paragraph (3) it is irrelevant when the borrowing of the money, the incurring of the expenses or the assumption of functions took place (and, in particular, it is irrelevant if any of those things were done at a time when the FCA was known as the Financial Services Authority).

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Source: legislation.gov.uk · retrieved 2026-09-04