{
  "url": "https://openlegislation.uk/financial-services-act-2012-consequential-amendments-and-transitional-provisions-order-2013/schedule-2/paragraph-118",
  "json_url": "https://openlegislation.uk/financial-services-act-2012-consequential-amendments-and-transitional-provisions-order-2013/schedule-2/paragraph-118.json",
  "legislation": "uksi/2013/472",
  "legislation_title": "The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013",
  "legislation_url": "https://openlegislation.uk/financial-services-act-2012-consequential-amendments-and-transitional-provisions-order-2013",
  "path": "schedule/2/paragraph/118",
  "kind": "paragraph",
  "number": "118",
  "heading": "The Capital Requirements Regulations 2006",
  "text": "In the Capital Requirements Regulations 2006—\n(a) in regulation 1(2) (interpretation), after the definition of “application” insert—\n““appropriate regulator” means the FCA or, as the case may be, the PRA;”;\n(b) regulation 2 (application for permission) is amended as follows—\n(i) in paragraph (1), for “the Authority” substitute “an appropriate regulator”;\n(ii) in paragraphs (2) and (3), for “the Authority” in each place it appears substitute “that appropriate regulator”;\n(c) regulation 3 (applications to the Authority as EEA consolidated supervisor) is amended as follows—\n(i) in the heading and in paragraph (1), for “the Authority” substitute “an appropriate regulator”;\n(ii) in paragraph (2), for “The Authority” substitute “That appropriate regulator”;\n(iii) in paragraphs (3), (4) and (5), for “the Authority” in each place it appears substitute “that appropriate regulator”;\n(d) regulation 4 (applications forwarded to the Authority as a relevant competent authority) is amended as follows—\n(i) in the heading and in paragraph (1), for “the Authority” substitute “an appropriate regulator”;\n(ii) in paragraph (2), for “The Authority” substitute “That appropriate regulator”;\n(e) regulation 5 (proposals to vary or revoke a decision or joint decision) is amended as follows—\n(i) in paragraph (1), for “the Authority” substitute “an appropriate regulator”;\n(ii) in paragraph (2), for “The Authority” substitute “That appropriate regulator”;\n(iii) in paragraphs (3) to (5), for “the Authority” in each place it appears substitute “that appropriate regulator”;\n(f) in regulation 6, for “The Authority” substitute “An appropriate regulator”;\n(g) in regulation 7 (recognition and application of a decision or joint decision), for “The Authority” substitute “An appropriate regulator”;\n(h) regulation 8 (exercise of functions for the purpose of applying a decision or joint decision) is amended as follows—\n(i) in the heading, for “section 148” substitute “section 138A”;\n(ii) in paragraph (1)—\n(aa) for “The Authority” substitute “An appropriate regulator”;\n(bb) for “section 148” substitute “section 138A”;\n(iii) in paragraph (2)—\n(aa) in sub-paragraph (a), for “subsections (2) and (9)(b) of section 148 for the Authority’s” substitute “subsections (1) and (7)(b) of section 138A for that appropriate regulator’s”;\n(bb) in subparagraph (b), for “section 148(4)” substitute “section 138A(4)”;\n(i) regulation 9 is amended as follows—\n(i) in paragraph (1)—\n(aa) for “the Authority” substitute “an appropriate regulator”;\n(bb) for “section 148” substitute “section 138A”;\n(ii) in paragraph (2)(c), for “the Authority” substitute “that appropriate regulator”;\n(j) in the heading to regulation 10 (the Authority’s duties as an EEA consolidated supervisor), for “The Authority’s duties” substitute “Duties of an appropriate regulator”;\n(k) in regulation 10 for “the Authority” substitute “an appropriate regulator”;\n(l) in regulation 10A, for “Authority” in each place it appears substitute “appropriate regulator”;\n(m) regulation 10B is amended as follows—\n(i) in paragraph (1), for “the Authority” substitute “an appropriate regulator”;\n(ii) for “Authority” in each other place it appears substitute “appropriate regulator”;\n(n) in regulations 11, 12 and 12A, for “Authority” in each place it appears substitute “appropriate regulator”;\n(o) in the heading to regulation 13 (the Authority’s duties as EEA consolidated supervisor or national consolidated supervisor), for “The Authority’s duties” substitute “Duties of an appropriate regulator”;\n(p) in regulation 13, for “the Authority” substitute “an appropriate regulator”;\n(q) in regulations 14 and 15, for “Authority” in each place it appears substitute “appropriate regulator”;\n(r) regulation 16 is amended as follows—\n(i) for “Authority” in each place it appears substitute “appropriate regulator”;\n(ii) in paragraph (4)—\n(aa) in sub-paragraph (i) for “Part IV” substitute “Part 4A”;\n(bb) in sub-paragraph (ii) for “section 148” substitute “section 138A”;\n(s) regulation 16A (significant branches) is amended as follows—\n(i) for “Authority” in each place it appears substitute “relevant regulator”;\n(ii) after paragraph (7) insert—\n“(8) In this regulation, “the relevant regulator” in relation to a branch established in the United Kingdom means—\n(a) if the branch is a PRA-authorised person, the PRA;\n(b) in any other case, the FCA.”;\n(t) regulations 16B, 16C and 16D are amended as follows—\n(i) in paragraph (1) of each regulation, for “the Authority” substitute “an appropriate regulator”;\n(ii) for “Authority” in each other place it appears substitute “appropriate regulator”;\n(u) regulation 16E (the Authority’s general duties) is amended as follows—\n(i) for the heading, substitute “General duties of FCA and PRA”;\n(ii) for “The Authority” substitute “An appropriate regulator”;\n(iii) for “the competent authority” substitute “a competent authority”;\n(v) regulation 16G is amended as follows—\n(i) in the heading, for “The Authority’s” substitute “The relevant regulator’s”;\n(ii) the existing text is renumbered as paragraph (1);\n(iii) in that paragraph (1), for “The Authority” substitute “The relevant regulator”;\n(iv) after paragraph (1) insert—\n“(2) In this regulation, the “relevant regulator” in relation to an authorised person means—\n(a) if the authorised person is a PRA-authorised person, the PRA;\n(b) in any other case, the FCA.”;\n(w) regulation 17 (disclosed information) is amended as follows—\n(i) in paragraph (1)—\n(aa) for “the Authority” in the first place it appears substitute “an appropriate regulator”;\n(bb) for the “Authority” in the second place it appears substitute “that appropriate regulator”;\n(ii) in paragraph (2)—\n(aa) for “the Authority” in the first place it appears substitute “an appropriate regulator”;\n(bb) for the “Authority” in the second place it appears substitute “that appropriate regulator”;\n(x) in regulations 22 to 25 (external credit assessment institutions), for “Authority” in each place it appears substitute “PRA”;\n(y) regulation 26 (restriction on disclosure) is amended as follows—\n(i) in paragraph (1)(b) for “the Authority” substitute “an appropriate regulator”;\n(ii) in paragraph (3)(b) for “the Authority” substitute “that appropriate regulator”;\n(z) regulation 27 (functions of the Authority) is amended as follows—\n(i) in the heading, for “the Authority” substitute “the FCA and PRA”;\n(ii) for “the Authority” in the first place it appears substitute “an appropriate regulator”;\n(iii) for “the Authority” in the second place it appears substitute “that appropriate regulator”;\n(aa) in Schedules 1 and 2 (recognition of ECAIs and mapping), for “Authority” in each place it appears substitute “PRA”.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 2 para. 118 in force at 1.4.2013, see art. 1(1)"
    },
    {
      "type": "footnote",
      "label": "f1",
      "text": "S.I. 2006/3221."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "There are amending instruments but none is relevant."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "Paragraphs (4) and (5) were inserted by S.I. 2012/917."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "Regulations 10 to 10B were substituted by S.I. 2010/2628."
    },
    {
      "type": "footnote",
      "label": "f5",
      "text": "Amended by S.I. 2012/917."
    },
    {
      "type": "footnote",
      "label": "f6",
      "text": "Substituted by S.I. 2010/2628 and amended by 2012/917."
    },
    {
      "type": "footnote",
      "label": "f7",
      "text": "Inserted by S.I. 2010/2628 and amended by 2012/917."
    },
    {
      "type": "footnote",
      "label": "f8",
      "text": "Substituted by S.I. 2010/2628 and amended by 2012/917."
    },
    {
      "type": "footnote",
      "label": "f9",
      "text": "Amended by S.I. 2010/2628."
    },
    {
      "type": "footnote",
      "label": "f10",
      "text": "Inserted by S.I. 2010/2628 and amended by S.I. 2012/917."
    },
    {
      "type": "footnote",
      "label": "f11",
      "text": "Regulations 16B, 16C and 16D were inserted by S.I. 2010/2628."
    },
    {
      "type": "footnote",
      "label": "f12",
      "text": "Inserted by S.I. 2010/2628."
    },
    {
      "type": "footnote",
      "label": "f13",
      "text": "Inserted by S.I. 2012/917."
    },
    {
      "type": "footnote",
      "label": "f14",
      "text": "Amended by S.I. 2010/906 and 2628."
    },
    {
      "type": "footnote",
      "label": "f15",
      "text": "Amended by S.I. 2012/917."
    },
    {
      "type": "footnote",
      "label": "f16",
      "text": "Amended by S.I. 2010/2628."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2013/472/schedule/2/paragraph/118",
    "retrieved_at": "2026-10-29T01:02:28.872417+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."
}