Section 33(8)

The requirement imposed by subsection (2) does not apply to the extent that the regulator takes a relevant action— by the making of product intervention rules under section 137D if the condition in subsection (9) is met, in order to comply with a direction given by the Financial Policy Committee of the Bank of England under section 9H of the Bank of England Act 1998 (directions requiring macro-prudential measures), or in order to act in accordance with a recommendation made by that Committee under section 9Q of that Act (recommendations about the exercise of functions).

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