Regulation 60 Assumption of risk: notification to PRA

(1)

Where a protected cell company assumes a risk from an undertaking, the protected cell company must notify the PRA.

(2)

The notification must be sent to the PRA within a period of 5 working days beginning with the day the protected cell company assumed the risk.

(3)

Rules made under section 137G (the PRA’s general rules) of FSMA^f1 may specify—

(a)

the form in which such a notification is to be made;

(b)

the information to be included with such a notification; and

(c)

the form in which any such information is to be provided.

Annotations

f1: Section 137G was inserted by section 24 of the Financial Services Act 2012.