427 Transitional provisions

427  Transitional provisions

(1)     Subsections (2) and (3) apply to an order under section 426 which makes transitional provisions or savings.

(2)     The order may, in particular—

(a)     if it makes provision about the authorisation and permission of persons who before commencement were entitled to carry on any activities, also include provision for such persons not to be treated as having any authorisation or permission (whether on an application to [a regulator] or otherwise);

(b)     make provision enabling [a regulator] to require persons

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