Section 38(2)

After Article 4 of the PRIIPs Regulation insert— The FCA may make rules specifying whether or not a product, or category of product, falls within the definition of a PRIIP for the purposes of this Regulation. The provisions of Part 9A of FSMA listed in paragraph 3 apply to rules made under this Article as they apply to rules made by the FCA under that Act, subject to the modifications in that paragraph (if any). The provisions are— section 137T (general supplementary powers), as if— the reference in paragraph (a) to authorised persons were a reference to persons, and paragraph (b) were omitted; section 138F (notification of rules), as if subsection (2) were omitted; section 138G (rule-making instruments); section 138I (consultation by the FCA), as if— subsection (1)(a) (and the “and” after it) were omitted, in subsection (1)(b), “after doing so,” were omitted, in subsection (2), paragraphs (c) and (d) were omitted, and subsections (5)(b) and (10) were omitted; section 138L (consultation: general exemptions), as if— in subsection (1), for “Sections 138I(1)(b) and (2) to (5) and 138K do” there were substituted “ Section 138I(1)(b) and (2) to (5) does ”, subsections (2) and (4)(b) were omitted, in subsection (5)(a), “or 138J(2)(a)” were omitted, and in subsection (5)(b), “or 138J(5)(a)” were omitted; section 141A (power to make consequential amendments of references to rules etc).

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