[55Q Exercise of power in support of overseas regulator]

[Exercise of power in support of overseas regulator]

[55Q  Exercise of power in support of overseas regulator]

[(1)     Either UK regulator's own-initiative powers may be exercised in respect of an authorised person at the request of, or for the purpose of assisting, an overseas regulator of a prescribed kind.

(2)     . . .

(3)     Subsection (1) does not affect any duty of one UK regulator to consult or obtain the consent of the other UK regulator in relation to the exercise of its own-initiative powers.

(4)     . . .

(5)     In deciding whether or not to [exercise its own-initiative powers in response to a request, the UK regulator]

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