Section 144A CRR rules
In this Act, “CRR rules” means rules of a type described in subsection (2) to the extent that they make provision about a matter described in subsection (3).
The types of rules are—
general rules made, or to be made, by the PRA applying to CRR firms or a description of CRR firm;
rules made, or to be made, under section 192XA.
The matters are any matter that is the subject of—
a relevant provision of the capital requirements regulation, or
a CRR Basel standard.
For the purposes of subsection (3)(a), a provision is “relevant” if—
it has been or may be revoked by regulations made under section 3(1) of the Financial Services Act 2021, F1...
it has been revoked by regulations made under section 3(3) or (5) of that Act F2, or
it has been or may be revoked by section 1 of the Financial Services and Markets Act 2023.
In subsection (3)—
the reference to a matter that is the subject of a provision of the capital requirements regulation includes a matter that is the subject of an instrument made under the provision, and
the reference to a matter that is the subject of a CRR Basel standard includes such a matter as it relates to any CRR firm (even where the standard in question does not apply to all CRR firms).
Annotations
Textual amendments
- F1
Word in s. 144A(4)(a) omitted (22.11.2024) by virtue of The Prudential Regulation of Credit Institutions (Meaning of CRR Rules and Recognised Exchange) (Amendment) Regulations 2024 (S.I. 2024/1200), regs. 1(2), 2(a)
- F2
S. 144A(4)(c) and word inserted (22.11.2024) by The Prudential Regulation of Credit Institutions (Meaning of CRR Rules and Recognised Exchange) (Amendment) Regulations 2024 (S.I. 2024/1200), regs. 1(2), 2(b)
Notes on Part 9D
Textual amendments
- F1
Pt. 9D repealed (1.1.2024 for the repeal of s. 144H(2)) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 4 (with ss. 1(4), 7(4)); S.I. 2023/779, reg. 5(e)(iii)