{
  "url": "https://openlegislation.uk/financial-conglomerates-and-other-financial-groups-regulations-2004/regulation-20",
  "json_url": "https://openlegislation.uk/financial-conglomerates-and-other-financial-groups-regulations-2004/regulation-20.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/20",
  "kind": "regulation",
  "number": "20",
  "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;\nif the ratios referred to in those rules fall below 40% and 10% respectively for conglomerates already subject to supplementary supervision, a lower ratio of 35% and 8 % respectively will apply for the following three years.\n(2) In respect of the application of—\n(a) the PRA Rulebook, Financial Conglomerates Annex 1 Threshold Test 3, or\n(b) the Threshold Test 3 of Annex 4 of Chapter 3 of the FCA General Prudential sourcebook,\nif the balance sheet total of the smallest financial sector in the group falls below EUR 6 billion for conglomerates already subject to supplementary supervision, a lower figure of EUR 5 billion must apply for the following three years.\n(3) During the period which paragraph (2) applies, the co-ordinator may, with the agreement of the other relevant competent authority, decide that the lower ratios or the lower amount referred to in this regulation must cease to apply.",
  "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/20",
    "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."
}