# Financial Services Act 2012, Paragraph 50


After section 157 insert—
“Banks not regulated by PRA
157A (1) In the application of this Part to an FCA-regulated bank the modifications specified in the Table apply.
(2) In this section “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.
TABLE OF MODIFICATIONS
Provision
Modification
Section 147
The bank administrator must send the statement to the FCA (and need not send a copy of it to the PRA).
Section 153
Ignore the reference to the PRA in subsection (3).
Section 157
Ignore the reference to the PRA in subsection (1).
”

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Source: https://www.legislation.gov.uk/ukpga/2012/21/schedule/17/paragraph/50 (the official version)
Page: https://openlegislation.uk/financial-services-act-2012/schedule-17/paragraph-50
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.