Paragraph 19

omit the definition of “the Authority”; and

at the appropriate places, insert—

• ““the appropriate authority” means—

  1. (a)

     in relation to a society which is a PRA-authorised person, the PRA; and

  2. (b)

     in relation to a society which is not a PRA-authorised person, the FCA;”;

• ““the FCA” means the Financial Conduct Authority;”;

• ““the PRA” means the Prudential Regulation Authority;”; and

• ““PRA-authorised person” has the meaning in section 2B of the Financial Services and Markets Act 2000;”.