{
  "url": "https://openlegislation.uk/financial-services-act-2012/schedule-17/paragraph-28",
  "json_url": "https://openlegislation.uk/financial-services-act-2012/schedule-17/paragraph-28.json",
  "legislation": "ukpga/2012/21",
  "legislation_title": "Financial Services Act 2012",
  "legislation_url": "https://openlegislation.uk/financial-services-act-2012",
  "path": "schedule/17/paragraph/28",
  "kind": "paragraph",
  "number": "28",
  "heading": null,
  "text": "After section 83 insert—\n“Banks not regulated by PRA\nModifications of Part\n83A (1) In the application of this Part to an FCA-regulated bank the modifications specified in the Table apply.\n(2) In this section—\n“FCA-regulated bank” means a bank which does not carry on any activity which is a PRA-regulated activity for the purposes of the Financial Services and Markets Act 2000;\n“immediate group” has the meaning given by section 421ZA of the Financial Services and Markets Act 2000;\n“PRA-authorised person” has the meaning given by section 2B(5) of that Act.\nTABLE OF MODIFICATIONS\nProvision\nModification\nSection 7\n(a) Treat the references to the PRA in subsections (1), (4), (4A) and (5) as references to the FCA.\n(b) Ignore subsection (5)(aa).\n(c) If the bank has as a member of its immediate group a PRA-authorised person the FCA must consult the PRA before determining whether or not Condition 2 is met.\nSection 8\nSubsection (3)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.\nSection 9\nSubsection (4)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.\nSection 24\nIgnore subsection (1)(c).\nSection 25\nIgnore subsection (2)(c).\nSection 26\nSubsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.\nSection 26A\nSubsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.\nSection 27\nSubsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.\nSection 28\nSubsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.\nSection 29\nSubsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.\nSection 30\nSubsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.\nSection 31\nSubsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.\nSection 41\nIgnore subsection (1)(c).\nSection 42\nSubsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.\nSection 42A\nSubsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.\nSection 43\nSubsection (7)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.\nSection 44\nSubsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.\nSection 45\nSubsection (8)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.\nSection 46\nSubsection (7)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person.\nSection 81B\n(a) Treat the reference to the PRA in subsection (2) as a reference to the FCA.\n(b) Ignore subsection (6)(b).\nSection 82\n(a) Treat the reference to the PRA in subsection (2) as a reference to the FCA.\n(b) Ignore subsection (5)(a).\n”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 17 para. 28 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2012/21/schedule/17/paragraph/28",
    "retrieved_at": "2026-10-29T09:08:36.918830+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."
}