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Status: You are viewing the version of the handbook as on 2012-12-13.

INSPRU Sch 6 Rules that can be waived

1The rules in INSPRU can be waived by the FSA under section 148 of the Act (Modification or waiver of rules), except for INSPRU 9.1.1 R (Actions for damages). However, if the rules incorporate requirements laid down in European directives, it will not be possible for the FSA to grant a waiver that would be incompatible with the United Kingdom's responsibilities under those directives. It therefore follows that if a rule in INSPRU contains provisions which derive partly from a directive, and partly not, the FSA will be able to consider a waiver of the latter requirements only, unless the directive provisions are optional rather than mandatory.