Member

44: Clause 17, page 22, line 3, at end insert “; (ii) in paragraph (f), the words from “differences in the nature” to the end of the paragraph become sub-paragraph (i), and after that sub-paragraph insert “, and(ii) differences in the abilities of such persons to engage or comply with things done or made by a regulator in the discharge of its general functions within the meaning of section 1B(6) or 2J(1) (owing, for example, to their size);”;(b) after subsection (1) insert—“(1A) For the purposes of sections 1B(5)(a) and 2H(2), the proportionality regulatory principles are the regulatory principles in subsection (1)(b) and (f).””Member's explanatory statement This amendment would amend the regulatory principle in section 3B(1)(f) of FSMA 2000 and define the “proportionality regulatory principles” for the purposes of sections 1B(5)(a) and 2H(2).