[(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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