[F12HDuty to have regard to regulatory principlesU.K.
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(1)In discharging its general functions, the PRA must also have regard to—
(a)the regulatory principles in section 3B, and
(b)the need to minimise any adverse effect on competition in the relevant markets that may result from the manner in which the PRA discharges those functions.
(2)In subsection (1)(b) “the relevant markets” means the markets for services provided by PRA-authorised persons in carrying on regulated activities.]
Textual Amendments
F1Pt. 1A substituted for Pt. 1 (24.1.2013 for specified purposes, 19.2.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 6(1), 122(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(b)(c)(2), Sch. Pts. 2, 3, 4; S.I. 2013/423, art. 3, Sch.