INMA 10.1.3 Modifications and waivers

(1) A modification of a provision of PIIB that was in effect immediately before 1 January 2015 continues to have effect, according to its terms, as a modification of the provision of these rules corresponding as nearly as possible to the provision of PIIB.
(2) A waiver of a provision of PIIB (other than a waiver in relation to an authorised firm that is a branch, the effect of which was that the firm was not required to hold capital) that was in effect immediately before 1 January 2015 continues to have effect, according to its terms, as a waiver of the provision of these rules corresponding as nearly as possible to the provision of PIIB.
Derived from QFCRA RM/2014-4 (as from 1st January 2015).