Versions

 

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.