{
  "url": "https://openlegislation.uk/financial-conglomerates-and-other-financial-groups-regulations-2004/regulation-19",
  "json_url": "https://openlegislation.uk/financial-conglomerates-and-other-financial-groups-regulations-2004/regulation-19.json",
  "legislation": "uksi/2004/1862",
  "legislation_title": "The Financial Conglomerates and Other Financial Groups Regulations 2004",
  "legislation_url": "https://openlegislation.uk/financial-conglomerates-and-other-financial-groups-regulations-2004",
  "path": "regulation/19",
  "kind": "regulation",
  "number": "19",
  "heading": null,
  "text": "(1) In respect of the application of—\n(a) the PRA Rulebook, Financial Conglomerates Annex 1 Threshold Test 1 and 2, or\n(b) the Threshold Test 1 and 2 of Annex 4 of Chapter 3 of the FCA General Prudential sourcebook,\nthe relevant competent authorities may, in exceptional cases and by common agreement, take the action specified in paragraph (2).\n(2) The action the competent authorities may take is to—\n(a) replace the criterion based on balance sheet total with one or both of the parameters specified in paragraph (3), or\n(b) add one or both of the parameters,\nif they determine that the parameters are of relevance for the purposes of supplementary supervision.\n(3) The parameters are—\n(a) income structure;\n(b) off-balance-sheet activities;\n(c) total assets under management.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Regs. 16-24 inserted (31.12.2020) by The Financial Conglomerates and Other Financial Groups (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/264), regs. 1, 3 (with regs. 6, 9) (as amended by S.I. 2019/1010, regs. 1(3), 8 and S.I. 2020/1031, reg. 3, Sch. para. 15 and with savings in S.I. 2019/680, reg. 11 ); 2020 c. 1, Sch. 5 para. 1(1)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2004/1862/regulation/19",
    "retrieved_at": "2026-10-29T05:22:24.089006+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}