SCHEDULES
F1SCHEDULE 1ZBThe Prudential Regulation Authority
PART 1General
Interpretation
1
Constitution
F52
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F53
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F54
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F55
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Appointed members of governing body
F56
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F57
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F58
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F59
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F510
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F511
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F512
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F513
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F514
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Terms of service
F515
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Arrangements for discharging functions
F516
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Records
17
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.
Budget
F918
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Annual report
19
C11
At least once a year the PRA must make a report to the F11Chancellor of the Exchequer on—
a
the discharge of its functions,
b
the extent to which, in its opinion, its objectives have been advanced,
F2ba
how it has complied with section 2H(1),
c
its consideration of the principles in section 3B F3...,
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—
F12a
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
b
such other reports or information, prepared by such persons, as the Treasury may from time to time direct.
4
F105
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.
Consultation about annual report
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—
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 F4and 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.
Report on consultation
21
1
The PRA must publish a report about its consultation in accordance with paragraph 20.
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.
Accounts and audit
F622
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F623
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Schs. 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.