- Latest available (Revised)
- Point in Time (31/07/2017)
- Original (As enacted)
Version Superseded: 03/01/2018
Point in time view as at 31/07/2017.
Financial Services and Markets Act 2000, SCHEDULE 1ZB is up to date with all changes known to be in force on or before 14 August 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Section [F22AB]
Textual Amendments
F1Schs. 1ZA, 1ZB substituted for Sch. 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), s. 122(3), Sch. 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.
F2Word in Sch. 1ZB shoulder note substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(2) (with Sch. 3); S.I. 2017/43, reg. 2(g)
1U.K.In this Schedule—
F3...
“functions”, in relation to the PRA, means functions conferred on the PRA by or under any provision of this Act (see section [F42AB(3)] which affects the meaning of references to such functions).
Textual Amendments
F3Words in Sch. 1ZB para. 1 omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(3)(a) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F4Word in Sch. 1ZB para. 1 substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(3)(b) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F52U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F5Sch. 1ZB paras. 2-16 omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(4) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F53U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F5Sch. 1ZB paras. 2-16 omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(4) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F54U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F5Sch. 1ZB paras. 2-16 omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(4) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F55U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F5Sch. 1ZB paras. 2-16 omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(4) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F56U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F5Sch. 1ZB paras. 2-16 omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(4) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F57U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F5Sch. 1ZB paras. 2-16 omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(4) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F58U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F5Sch. 1ZB paras. 2-16 omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(4) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F59U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F5Sch. 1ZB paras. 2-16 omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(4) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F510U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F5Sch. 1ZB paras. 2-16 omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(4) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F511U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F5Sch. 1ZB paras. 2-16 omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(4) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F512U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F5Sch. 1ZB paras. 2-16 omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(4) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F513U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F5Sch. 1ZB paras. 2-16 omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(4) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F514U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F5Sch. 1ZB paras. 2-16 omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(4) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F515U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F5Sch. 1ZB paras. 2-16 omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(4) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F516U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F5Sch. 1ZB paras. 2-16 omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(4) (with Sch. 3); S.I. 2017/43, reg. 2(g)
17U.K.The PRA must maintain satisfactory arrangements for—
(a)recording decisions made in the exercise of its functions, and
(b)the safe-keeping of those records which it considers ought to be preserved.
F618U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F6Sch. 1ZB para. 18 omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(4) (with Sch. 3); S.I. 2017/43, reg. 2(g)
19(1)At least once a year the PRA must make a report to the [F7Chancellor of the Exchequer] on—U.K.
(a)the discharge of its functions,
(b)the extent to which, in its opinion, its objectives have been advanced,
[F8(ba)how it has complied with section 2H(1),]
(c)its consideration of the principles in section 3B F9...,
(d)how it has complied with section 3D,
(e)any direction given under section 3I or 3J during the period to which the report relates,
(f)how it has complied with section 354B(1) so far as relating to co-operation with persons outside the United Kingdom, and
(g)such other matters as the Treasury may from time to time direct.
(2)Sub-paragraph (1) does not require the inclusion in the report of any information whose publication would in the opinion of the PRA be against the public interest.
(3)The report must be accompanied by—
F10(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b)such other reports or information, prepared by such persons, as the Treasury may from time to time direct.
(4)The [F11Chancellor of the Exchequer] must lay before Parliament a copy of each report received by [F12the Chancellor] under this paragraph.
[F13(5)The Chancellor may comply with sub-paragraph (4) by laying a document containing a report under this paragraph together with a report under section 4 of the Bank of England Act 1998.]
Textual Amendments
F7Words in Sch. 1ZB para. 19(1) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(5)(a) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F8Sch. 1ZB para. 19(1)(ba) inserted (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 130(3)(a)(i), 148(5); S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1
F9Words in Sch. 1ZB para. 19(1)(c) omitted (1.3.2014) by virtue of Financial Services (Banking Reform) Act 2013 (c. 33), ss. 130(3)(a)(ii), 148(5); S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1
F10Sch. 1ZB para. 19(3)(a) omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(5)(b) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F11Words in Sch. 1ZB para. 19(4) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(5)(c)(i) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F12Words in Sch. 1ZB para. 19(4) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(5)(c)(ii) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F13Sch. 1ZB para. 19(5) inserted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(5)(d) (with Sch. 3); S.I. 2017/43, reg. 2(g)
Modifications etc. (not altering text)
C1Sch. 1ZB para. 19(1) applied (with modifications) (1.4.2013) by The Financial Services Act 2012 (Transitional Provisions) (Miscellaneous Provisions) Order 2013 (S.I. 2013/442), arts. 1(3), 4(2)
20(1)In relation to each report made under paragraph 19, the PRA must publish at the same time as the report an invitation to members of the public to make representations to the PRA, within the 3 months beginning with the date of publication—U.K.
(a)about the report,
(b)about the way in which the PRA has discharged, or failed to discharge, its functions during the period to which the report relates, and
(c)about the extent to which, in their opinion, the PRA's objectives have been advanced [F14and the PRA has facilitated effective competition in accordance with section 2H and has considered the regulatory principles in section 3B] .
(2)The invitation must be published in the way appearing to it to be best calculated to bring the invitation to the attention of the public.
Textual Amendments
F14Words in Sch. 1ZB para. 20(1)(c) substituted (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 130(3)(b), 148(5); S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1
21(1)The PRA must publish a report about its consultation in accordance with paragraph 20.U.K.
(2)The report must contain an account, in general terms, of any representations received in pursuance of the invitation published under that paragraph.
(3)The report must be published not later than 4 months after the date on which the report under paragraph 19 was published.
F1522U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F15Sch. 1ZB paras. 22-26 omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(6) (with Sch. 3); S.I. 2017/43, reg. 3(1) (with reg. 3(2)(3))
F1523U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F15Sch. 1ZB paras. 22-26 omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(6) (with Sch. 3); S.I. 2017/43, reg. 3(1) (with reg. 3(2)(3))
F1524U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F15Sch. 1ZB paras. 22-26 omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(6) (with Sch. 3); S.I. 2017/43, reg. 3(1) (with reg. 3(2)(3))
F1525U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F15Sch. 1ZB paras. 22-26 omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(6) (with Sch. 3); S.I. 2017/43, reg. 3(1) (with reg. 3(2)(3))
F1526U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F15Sch. 1ZB paras. 22-26 omitted (1.3.2017) by virtue of Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(6) (with Sch. 3); S.I. 2017/43, reg. 3(1) (with reg. 3(2)(3))
27U.K.In determining its policy with respect to the amounts of penalties to be imposed by it under this Act, the PRA must take no account of the expenses which it incurs, or expects to incur, in discharging its functions.
Modifications etc. (not altering text)
C2Sch. 1ZB paras. 27-31 applied (with modifications) (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 1 para. 26 (with reg. 7)
28(1)The PRA must in respect of each of its financial years pay to the Treasury its penalty receipts after deducting its enforcement costs.U.K.
(2)The PRA's “penalty receipts” in respect of a financial year are any amounts received by it during the year by way of penalties imposed under this Act.
(3)The PRA's “enforcement costs” in respect of a financial year are the expenses incurred by it during the year in connection with—
(a)the exercise, or consideration of the possible exercise, of any of its enforcement powers in particular cases, or
(b)the recovery of penalties imposed under this Act.
(4)For this purpose the PRA's enforcement powers are—
(a)its powers under any of the provisions mentioned in section 133(7A),
(b)its powers under section 56 (prohibition orders),
(c)its powers under Part 25 of this Act (injunctions and restitution),
(d)its powers under any other enactment specified by the Treasury by order,
(e)its powers in relation to the investigation of relevant offences, and
(f)its powers in England and Wales or Northern Ireland in relation to the prosecution of relevant offences.
(5)“Relevant offences” are—
(a)offences under FSMA 2000,
(b)offences under subordinate legislation made under that Act, and
(c)any other offences specified by the Treasury by order.
(6)The Treasury may give directions to the PRA as to how the PRA is to comply with its duty under sub-paragraph (1).
(7)The directions may in particular—
(a)specify descriptions of expenditure that are, or are not, to be regarded as incurred in connection with either of the matters mentioned in sub-paragraph (3),
(b)relate to the calculation and timing of the deduction in respect of the PRA's enforcement costs, and
(c)specify the time when any payment is required to be made to the Treasury.
(8)The directions may also require the PRA to provide the Treasury at specified times with information relating to—
(a)penalties that the PRA has imposed under FSMA 2000, or
(b)the PRA's enforcement costs.
(9)The Treasury must pay into the Consolidated Fund any sums received by them under this paragraph.
Modifications etc. (not altering text)
C2Sch. 1ZB paras. 27-31 applied (with modifications) (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 1 para. 26 (with reg. 7)
29(1)The PRA must prepare and operate a scheme (“the financial penalty scheme”) for ensuring that the amounts that, as a result of the deduction for which paragraph 28(1) provides, are retained by the PRA in respect of amounts paid to it by way of penalties imposed under this Act are applied for the benefit of PRA-authorised persons.U.K.
(2)The financial penalty scheme may, in particular, make different provision with respect to different classes of PRA-authorised person.
(3)The financial penalty scheme must ensure that those who have become liable to pay a penalty to the PRA in any financial year of the PRA do not receive any benefit under the scheme in the following financial year.
(4)Up-to-date details of the financial penalty scheme must be set out in a document (“the scheme details”).
Modifications etc. (not altering text)
C2Sch. 1ZB paras. 27-31 applied (with modifications) (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 1 para. 26 (with reg. 7)
30(1)The scheme details must be published by the PRA in the way appearing to it to be best calculated to bring them to the attention of the public.U.K.
(2)Before making the financial penalty scheme, the PRA must publish a draft of the proposed scheme in the way appearing to the PRA to be best calculated to bring it to the attention of the public.
(3)The draft must be accompanied by notice that representations about the proposals may be made to the PRA within a specified time.
(4)Before making the scheme, the PRA must have regard to any representations made to it in accordance with sub-paragraph (3).
(5)If the PRA makes the proposed scheme, it must publish an account, in general terms, of—
(a)the representations made to it in accordance with sub-paragraph (3), and
(b)its response to them.
(6)If the scheme differs from the draft published under sub-paragraph (2) in a way which is, in the opinion of the PRA, significant, the PRA must (in addition to complying with sub-paragraph (5)) publish details of the difference.
(7)The PRA must, without delay, give the Treasury a copy of any scheme details published by it.
(8)The PRA may charge a reasonable fee for providing a person with a copy of—
(a)a draft published under sub-paragraph (2);
(b)scheme details.
(9)Sub-paragraphs (2) to (6) and (8)(a) also apply to a proposal to alter or replace the financial penalty scheme.
Modifications etc. (not altering text)
C2Sch. 1ZB paras. 27-31 applied (with modifications) (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 1 para. 26 (with reg. 7)
31(1)The PRA may make rules providing for the payment to it of such fees, in connection with the discharge of any of its qualifying functions, as it considers will (taking account of its expected income from fees and charges provided for by any other provision of this Act) enable it—U.K.
(a)to meet expenses incurred in carrying out its functions or for any incidental purpose,
(b)to repay the principal of, and pay any interest on, any relevant borrowing and to meet relevant commencement expenses, and
(c)to maintain adequate reserves.
(2)The “qualifying functions” of the PRA are—
(a)its functions under or as a result of this Act or any of the other Acts mentioned in section [F162AB(3)], and
(b)its functions under or as a result of a qualifying EU provision that is specified, or of a description specified, for the purposes of this sub-paragraph by the Treasury by order.
(3)In sub-paragraph (1)(b)—
“relevant borrowing” means any money borrowed by the PRA which has been used for the purpose of meeting expenses incurred in relation to its assumption of functions under this Act, and
“relevant commencement expenses” means expenses incurred by the PRA, the FCA or the Bank—
in preparation for the exercise of functions by the PRA under this Act, or
for the purpose of facilitating the exercise by the PRA of those functions or otherwise in connection with their exercise by it.
(4)Neither section [F172AB(3)(d)] nor the definition of “functions” in paragraph 1 applies for the purposes of sub-paragraph (2).
(5)For the purposes of sub-paragraph (3) it is irrelevant when the borrowing of the money, the incurring of the expenses or the assumption of functions took place (and, in particular, it is irrelevant if expenses were incurred by the FCA at a time when it was known as the Financial Services Authority).
(6)In fixing the amount of any fee which is to be payable to the PRA, no account is to be taken of any sums which the PRA receives, or expects to receive, by way of penalties imposed by it under this Act.
(7)Any fee which is owed to the PRA under any provision made by or under this Act may be recovered as a debt due to the PRA.
Textual Amendments
F16Word in Sch. 1ZB para. 31(2) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(7)(a) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F17Word in Sch. 1ZB para. 31(4) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 50(7)(b) (with Sch. 3); S.I. 2017/43, reg. 2(g)
Modifications etc. (not altering text)
C2Sch. 1ZB paras. 27-31 applied (with modifications) (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 1 para. 26 (with reg. 7)
32U.K.The power conferred by paragraph 31 may not be used to require—
(a)a fee to be paid in respect of the discharge of any of the PRA's functions under paragraph 13, 14, 19 or 20 of Schedule 3, or
(b)a fee to be paid by any person whose application for approval under section 59 has been granted.
33(1)None of the following is to be liable in damages for anything done or omitted in the discharge, or purported discharge, of the PRA's functions—U.K.
(a)the PRA;
(b)any person (“P”) who is, or is acting as, a member, officer or member of staff of the PRA;
(c)any person who could be held vicariously liable for things done or omitted by P, but only in so far as the liability relates to P's conduct.
[F18(1A)In sub-paragraph (1) the reference to the PRA's functions includes its functions under Part 5 of the Financial Services (Banking Reform) Act 2013 (regulation of payment systems).]
(2)Anything done or omitted by a person mentioned in sub-paragraph (1)(a) or (b) while acting, or purporting to act, as a result of an appointment under any of sections 97, 166 to 169 and 284 is to be taken for the purposes of sub-paragraph (1) to have been done or omitted in the discharge, or as the case may be purported discharge, of the PRA's functions.
(3)Sub-paragraph (1) does not apply—
(a)if the act or omission is shown to have been in bad faith, or
(b)so as to prevent an award of damages made in respect of an act or omission on the ground that the act or omission was unlawful as a result of section 6(1) of the Human Rights Act 1998.
Textual Amendments
F18Sch. 1ZB para. 33(1A) inserted (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 109(2), 148(5); S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1
Modifications etc. (not altering text)
C3Sch. 1ZB para. 33 applied (with modifications) (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 1 para. 26 (with reg. 7)
34U.K.For the purposes of this Act anything done by an accredited financial investigator within the meaning of the Proceeds of Crime Act 2002 who—
(a)is, or is acting as, an officer of, or member of the staff of, the PRA, or
(b)is appointed by the PRA under section 167 or 168 to conduct an investigation,
is to be treated as done in the exercise or discharge of a function of the PRA.
35U.K.Any amount (other than a fee) which is required by rules to be paid to the PRA may be recovered as a debt due to the PRA.]
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