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Amendment of section 23 of Act of 2010
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12. Section 23 of the Act of 2010 is amended—
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(a) in subsection (1)—
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(i) by the insertion of “or holding company” after “provider”, and
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(ii) by the insertion of “in relation to it” after “controlled function”,
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(b) in subsection (2)—
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(i) by the insertion of “the appointment of” after “approve”,
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(ii) by the insertion of “or holding company” after “provider”, and
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(iii) by the insertion of “pre-approval” before “controlled”,
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(c) in subsection (6)(a), by the insertion of “or holding company” after “provider”, and
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(d) by the insertion of the following subsection after subsection (7):
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“(8) Where—
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(a) the Bank is considering under subsection (1) whether to approve an appointment,
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(b) the appointment will be to perform a pre-approval controlled function in relation to a regulated financial service provider, and
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(c) the person proposing to make the appointment is not yet a regulated financial service provider,
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subsection (2) applies as if references in that subsection to a regulated financial service provider were references to that person.”.
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