# The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013, Paragraph 118: The Capital Requirements Regulations 2006

Extent: E+W+S+N.I.

In the Capital Requirements Regulations 2006—
(a) in regulation 1(2) (interpretation), after the definition of “application” insert—
““appropriate regulator” means the FCA or, as the case may be, the PRA;”;
(b) regulation 2 (application for permission) is amended as follows—
(i) in paragraph (1), for “the Authority” substitute “an appropriate regulator”;
(ii) in paragraphs (2) and (3), for “the Authority” in each place it appears substitute “that appropriate regulator”;
(c) regulation 3 (applications to the Authority as EEA consolidated supervisor) is amended as follows—
(i) in the heading and in paragraph (1), for “the Authority” substitute “an appropriate regulator”;
(ii) in paragraph (2), for “The Authority” substitute “That appropriate regulator”;
(iii) in paragraphs (3), (4) and (5), for “the Authority” in each place it appears substitute “that appropriate regulator”;
(d) regulation 4 (applications forwarded to the Authority as a relevant competent authority) is amended as follows—
(i) in the heading and in paragraph (1), for “the Authority” substitute “an appropriate regulator”;
(ii) in paragraph (2), for “The Authority” substitute “That appropriate regulator”;
(e) regulation 5 (proposals to vary or revoke a decision or joint decision) is amended as follows—
(i) in paragraph (1), for “the Authority” substitute “an appropriate regulator”;
(ii) in paragraph (2), for “The Authority” substitute “That appropriate regulator”;
(iii) in paragraphs (3) to (5), for “the Authority” in each place it appears substitute “that appropriate regulator”;
(f) in regulation 6, for “The Authority” substitute “An appropriate regulator”;
(g) in regulation 7 (recognition and application of a decision or joint decision), for “The Authority” substitute “An appropriate regulator”;
(h) regulation 8 (exercise of functions for the purpose of applying a decision or joint decision) is amended as follows—
(i) in the heading, for “section 148” substitute “section 138A”;
(ii) in paragraph (1)—
(aa) for “The Authority” substitute “An appropriate regulator”;
(bb) for “section 148” substitute “section 138A”;
(iii) in paragraph (2)—
(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”;
(bb) in subparagraph (b), for “section 148(4)” substitute “section 138A(4)”;
(i) regulation 9 is amended as follows—
(i) in paragraph (1)—
(aa) for “the Authority” substitute “an appropriate regulator”;
(bb) for “section 148” substitute “section 138A”;
(ii) in paragraph (2)(c), for “the Authority” substitute “that appropriate regulator”;
(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”;
(k) in regulation 10 for “the Authority” substitute “an appropriate regulator”;
(l) in regulation 10A, for “Authority” in each place it appears substitute “appropriate regulator”;
(m) regulation 10B is amended as follows—
(i) in paragraph (1), for “the Authority” substitute “an appropriate regulator”;
(ii) for “Authority” in each other place it appears substitute “appropriate regulator”;
(n) in regulations 11, 12 and 12A, for “Authority” in each place it appears substitute “appropriate regulator”;
(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”;
(p) in regulation 13, for “the Authority” substitute “an appropriate regulator”;
(q) in regulations 14 and 15, for “Authority” in each place it appears substitute “appropriate regulator”;
(r) regulation 16 is amended as follows—
(i) for “Authority” in each place it appears substitute “appropriate regulator”;
(ii) in paragraph (4)—
(aa) in sub-paragraph (i) for “Part IV” substitute “Part 4A”;
(bb) in sub-paragraph (ii) for “section 148” substitute “section 138A”;
(s) regulation 16A (significant branches) is amended as follows—
(i) for “Authority” in each place it appears substitute “relevant regulator”;
(ii) after paragraph (7) insert—
“(8) In this regulation, “the relevant regulator” in relation to a branch established in the United Kingdom means—
(a) if the branch is a PRA-authorised person, the PRA;
(b) in any other case, the FCA.”;
(t) regulations 16B, 16C and 16D are amended as follows—
(i) in paragraph (1) of each regulation, for “the Authority” substitute “an appropriate regulator”;
(ii) for “Authority” in each other place it appears substitute “appropriate regulator”;
(u) regulation 16E (the Authority’s general duties) is amended as follows—
(i) for the heading, substitute “General duties of FCA and PRA”;
(ii) for “The Authority” substitute “An appropriate regulator”;
(iii) for “the competent authority” substitute “a competent authority”;
(v) regulation 16G is amended as follows—
(i) in the heading, for “The Authority’s” substitute “The relevant regulator’s”;
(ii) the existing text is renumbered as paragraph (1);
(iii) in that paragraph (1), for “The Authority” substitute “The relevant regulator”;
(iv) after paragraph (1) insert—
“(2) In this regulation, the “relevant regulator” in relation to an authorised person means—
(a) if the authorised person is a PRA-authorised person, the PRA;
(b) in any other case, the FCA.”;
(w) regulation 17 (disclosed information) is amended as follows—
(i) in paragraph (1)—
(aa) for “the Authority” in the first place it appears substitute “an appropriate regulator”;
(bb) for the “Authority” in the second place it appears substitute “that appropriate regulator”;
(ii) in paragraph (2)—
(aa) for “the Authority” in the first place it appears substitute “an appropriate regulator”;
(bb) for the “Authority” in the second place it appears substitute “that appropriate regulator”;
(x) in regulations 22 to 25 (external credit assessment institutions), for “Authority” in each place it appears substitute “PRA”;
(y) regulation 26 (restriction on disclosure) is amended as follows—
(i) in paragraph (1)(b) for “the Authority” substitute “an appropriate regulator”;
(ii) in paragraph (3)(b) for “the Authority” substitute “that appropriate regulator”;
(z) regulation 27 (functions of the Authority) is amended as follows—
(i) in the heading, for “the Authority” substitute “the FCA and PRA”;
(ii) for “the Authority” in the first place it appears substitute “an appropriate regulator”;
(iii) for “the Authority” in the second place it appears substitute “that appropriate regulator”;
(aa) in Schedules 1 and 2 (recognition of ECAIs and mapping), for “Authority” in each place it appears substitute “PRA”.

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Source: https://www.legislation.gov.uk/uksi/2013/472/schedule/2/paragraph/118 (the official version)
Page: https://openlegislation.uk/financial-services-act-2012-consequential-amendments-and-transitional-provisions-order-2013/schedule-2/paragraph-118
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.