(1) The [appropriate regulator] may exercise its power of intervention in respect of an incoming firm at the request of, or for the purpose of assisting, an overseas regulator.
(2) Subsection (1) applies whether or not the [appropriate regulator's] power of intervention is also exercisable as a result of section 194.
[(2A) The appropriate regulator” means—
(a) where the incoming firm is a PRA-authorised person, the FCA or the PRA;
(b) in any other case, the FCA.]
(3) “An overseas regulator” means an authority in a country or territory outside the United Kingdom—
(a) which is a home state regulator; or
(b) which exercises any function of a kind mentioned in subsection (4).
(4) The functions are—
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