Section 118(1)

The functions of the FCA under these Regulations are to be treated for the purposes of paragraph 23 of Schedule 1ZA (fees) to the 2000 Act as functions conferred on the FCA under that Act, with the following modifications— section 1B(5)(a) of the 2000 Act (FCA's general duties) does not apply to the making of rules under paragraph 23 by virtue of this regulation; rules made under paragraph 23 by virtue of this regulation are not to be treated as regulating provisions for the purposes of section 140A(1) of the 2000 Act (competition scrutiny) ; paragraph 23(7) does not apply.

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