Textual Amendments
F1Pt. 9B inserted (1.3.2014 for the insertion of ss. 142A-142F, 142I, 142W-142Z1 for specified purposes) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 4(1), 148(5); S.I. 2014/377, art. 2(1)(b), Sch. Pt. 2
(1)The PRA must carry out reviews of its ring-fencing rules and of any rules made by it under section 192JA (rules applying to parent undertakings of ring-fenced bodies).
(2)The first review must be completed before the end of the period of 5 years beginning with the day on which the first ring-fencing rules come into force.
(3)Subsequent reviews must be completed before the end of the period of 5 years beginning with the day on which the previous review was completed.
(4)The PRA must give the Treasury a report of each review.
(5)The Treasury must lay a copy of the report before Parliament.
(6)The PRA must publish the report in such manner as it thinks fit.
(7)If (because any ring-fenced body is not a PRA-authorised person) section 142H has the effect of requiring the FCA to make ring-fencing rules, subsections (1) to (6) apply to the FCA as they apply to the PRA.]