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).

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.

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.

The PRA must give the Treasury a report of each review.

The Treasury must lay a copy of the report before Parliament.

The PRA must publish the report in such manner as it thinks fit.

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.