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‘(1) A power to make regulations or an order under this Part is exercisable by statutory instrument.
(2) A power to make regulations or an order under this Part includes power to make different provision for different purposes and different areas.
(3) A power to make regulations or an order under this Part includes power to make incidental, supplementary, consequential, transitional or transitory provision or savings.
(4) Subject to subsection (5), a statutory instrument containing regulations or an order made under this Part is subject to annulment in pursuance of a resolution of either House of Parliament.
(5) A statutory instrument containing—
(a) regulations under section (Scheme funding)(1) (FR Scheme funding),
(b) regulations under section (The register: expenses of relevant bodies)(expenses of relevant bodies in connection with the register),
(c) regulations under section (Functions of the FCA)(functions of FCA),
(d) regulations under section (Intervention by the FCA or the PRA) (intervention by FCA or PRA), or
(e) an order under section (Period of operation) (period of operation),
may not be made unless a draft of the instrument has been laid before, and approved by a resolution of, each House of Parliament.’—(Dan Rogerson.)