Schedule 2, Part 4, paragraph 46(4)

After that paragraph insert— The power to give a direction under paragraph (1) is exercisable only if the FCA considers that it is necessary to give the direction for the purpose of advancing one or more of its operational objectives referred to in section 1B(3) of the Act. Position limits established by virtue of regulation 15A do not apply to the extent that position limits established by virtue of this regulation apply instead.

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