# Bank of England and Financial Services Act 2016, Paragraph 50

Extent: E+W+S+N.I.

(1) Schedule 1ZB (Prudential Regulation Authority) is amended as follows.
(2) In the shoulder note, for “2A” substitute “ 2AB. ”
(3) In paragraph 1—
(a) omit the definition of “the Bank”;
(b) for “2A(6)” substitute “ 2AB(3) ”.
(4) Omit paragraphs 2 to 16 and 18.
(5) In paragraph 19 (annual report)—
(a) in sub-paragraph (1), in the words before paragraph (a), for “Treasury” substitute “ Chancellor of the Exchequer ”;
(b) omit sub-paragraph (3)(a);
(c) in sub-paragraph (4)—
(i) for “Treasury” substitute “ Chancellor of the Exchequer ”;
(ii) for “them” substitute “ the Chancellor ”;
(d) after sub-paragraph (4) insert—
“(5) The Chancellor may comply with sub-paragraph (4) by laying a document containing a report under this paragraph together with a report under section 4 of the Bank of England Act 1998.”
(6) Omit paragraphs 22 to 26.
(7) In paragraph 31—
(a) in sub-paragraph (2) for “2A(6)” substitute “ 2AB(3) ”;
(b) in sub-paragraph (4) for “2A(6)(d)” substitute “ 2AB(3)(d) ”.

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Source: https://www.legislation.gov.uk/ukpga/2016/14/schedule/2/paragraph/50 (the official version)
Page: https://openlegislation.uk/bank-of-england-and-financial-services-act-2016/schedule-2/paragraph-50
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.