[F174(1)The FCA must obtain the PRA's consent before exercising its power under paragraph 27 in relation to a PRA-authorised person so as to—U.K.
(a)add an activity to those to which the person's Schedule 2A permission relates, or
(b)widen the description of an activity to which the person's Schedule 2A permission relates.
(2)Sub-paragraph (1) does not apply in relation to the regulated activity specified in article 63S of the Financial Services and Markets 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) (administering a benchmark).
(3)Consent given by the PRA for the purposes of this paragraph may be conditional on the way in which the FCA exercises its power.]
Textual Amendments
F1Sch. 2A inserted (1.9.2023 for specified purposes) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 6; S.I. 2023/934, reg. 2(a)