294 Modification or waiver of rules
294 Modification or waiver of rules

(1)     The [appropriate regulator] may, on the application or with the consent of a recognised body, direct that rules made under section 293 or 295—

(a)     are not to apply to the body; or

(b)     are to apply to the body with such modifications as may be specified in the direction.

(2)     An application must be made in such manner as the [appropriate regulator] may direct.

(3)     Subsections (4) to (6) apply to a direction given under subsection (1).

(4)     The [appropriate regulator] may not give a direction unless it is satisfied that—

(a)     compliance by the recognised body with the rules, or with the rules as unmodified, would be unduly burdensome or would not achieve the purpose for which the rules were made; and