Paragraph 3

(1)

For the purposes of the provisions specified in sub-paragraph (2), functions transferred by this Order are to be treated as functions conferred on the PRA under a provision of FSMA 2000.

(2)

The provisions are—

(a)

section 2A(3) and Schedule 1ZB (which make general provision in relation to the PRA and its functions);

(b)

sections 2B to 2I (the PRA’s general duties);

(c)

section 2O^f1 (reviews);

(d)

sections 3D (duty of FCA and PRA to ensure co-ordinated exercise of functions);

(e)

section 3E (memorandum of understanding); and

(f)

sections 3I to 3K (power of PRA to restrain proposed action by FCA).

Annotations

Footnotes

f1: Sections 2A to 2I and section 2O of, and Schedule 1ZB to, FSMA 2000 are inserted by section 6 of and Schedule 3 to the 2012 Act.