• PART 37 PART 37 General Supplementary Provisions

    • Resolutions

      • 1069. Resolutions And Subordinate Legislation

        (1) The Board shall have a general power to make rules amending any of the provisions of these Regulations by adding, altering or repealing provisions.
        (2) The Board may make rules, containing such terms and conditions as the Board may in its discretion specify, delegating to the Registrar or the Financial Services Regulator any power that the Board has under any Part of these Regulations to make or issue any rules or other subordinate legislation.
        (3) Any power or powers delegated by the Board under subsection (2) shall be exercised by the Registrar or the Financial Services Regulator by means of subordinate legislation made or issued by the Registrar or Financial Services Regulator (as the case may be).
        (4) Any subordinate legislation made or issued by the Registrar or the Financial Services Regulator (as the case may be) under subsection (3) shall have the same force and effect as if it were and shall otherwise be treated under these Regulations as being rules made by the Board.
        (5) Subordinate legislation under these Regulations may-
        (a) make different provision for different cases or circumstances,
        (b) include supplementary, incidental and consequential provision,
        (c) make transitional provision and savings, and
        (d) revoke or amend any rules or other subordinate legislation, provided that, unless the Board specifies otherwise in accordance with section 1069(2), only the Board may revoke or amend by rules any previous rules or any other subordinate legislation made or issued by the Board.

    • Consequential And Transitional Provisions

      • 1070. Power To Make Consequential Amendments Etc

        (1) The Board may make rules which make provision for the amendment, repeal or revocation of any provision of these Regulations or of any subordinate legislation made under these Regulations as it considers necessary or expedient in consequence of any provision made by or under these Regulations.
        (2) Without prejudice to the generality of the power conferred by subsection (1), rules made under this section may−
        (a) make provision extending to other forms of organisation any provision made by or under these Regulations in relation to companies, or
        (b) make provision corresponding to that made by or under these Regulations in relation to companies,
        in either case with such adaptations or other modifications as appear to the Board (or, as the case may be, the other person referred to in section 1069(2)) to be necessary or expedient.
        (3) The references in subsection (3) to provision made by these Regulations include provision conferring power to make provision by rules or other subordinate legislation.
        (4) Amendments and repeals made under this section are additional, and without prejudice, to those made by or under any other provision of these Regulations.