Textual Amendments
F1Sch. 2A inserted (1.9.2023 for specified purposes) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 6 (as amended (1.1.2024) by The Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendment) Regulations 2023 (S.I. 2023/1424), reg. 1(2), Sch. para. 100(3)(b)); S.I. 2023/934, reg. 2(a)
80(1)Each of the FCA, the PRA and the scheme manager must take such steps as they consider appropriate, for the purposes in sub-paragraph (2), to co-operate—U.K.
(a)with each other and the Treasury (“the UK entities”), and
(b)with the government of Gibraltar and the Gibraltar regulator (“the Gibraltar entities”).
(2)Those purposes are—
(a)to secure that they, and the Treasury, are able to perform their functions under this Schedule and section 32A, and
(b)to secure that, so far as is reasonably possible, there is co-operation between the UK entities and the Gibraltar entities which the Treasury, having regard to the objectives in paragraph 7(1), consider adequate.
(3)For the purposes of sub-paragraph (2), the FCA, the PRA and the scheme manager must, among other things, have regard to—
(a)the memoranda and arrangements described in paragraph 9(4)(a) to (d),
(b)reports laid before Parliament by the Treasury under section 32A, and
(c)any guidance published by the Treasury.
(4)Each of the FCA, the PRA and the scheme manager must ensure that one or more memoranda describing how it intends to comply with sub-paragraph (1) are prepared and maintained.
(5)The steps taken for the purposes of sub-paragraph (1) may include arrangements for the sharing of information which the FCA, the PRA or the scheme manager is not prevented from disclosing.
(6)When carrying out functions under this Schedule, the FCA and the PRA must, among other things, have regard to any relevant arrangements in force at the time for co-operation between the UK entities or for co-operation between those entities and the Gibraltar entities.]