Section 42

Schedule 1ZA to the Financial Services and Markets Act 2000 (Financial Conduct Authority) is amended as follows. In paragraph 2A— after sub-paragraph (1) insert— Appointment as chief executive under paragraph 2(2)(b) is to be for a period of 5 years. in sub-paragraph (2), for “Sub-paragraph (1) does” substitute “ Sub-paragraphs (1) and (1A) do ”. After paragraph 2A insert— A person may not be appointed as chief executive under paragraph 2(2)(b) more than twice. For this purpose an appointment as chief executive on an acting basis, pending a further appointment being made, is to be ignored.

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