Part II Regulated And Prohibited Activities

Regulated activities

22AF1Designation of activities requiring prudential regulation by PRA

1

The Treasury may by order specify the regulated activities that are “PRA-regulated activities” for the purposes of this Act.

2

An order under subsection (1) may—

a

provide for exceptions;

b

confer powers on the Treasury or either regulator;

c

authorise the making of rules or other instruments by either regulator for purposes of, or connected with, any relevant provision;

d

make provision in respect of any information or document which in the opinion of the Treasury or either regulator is relevant for purposes of, or connected with, any relevant provision;

e

make such consequential, transitional, or supplemental provision as the Treasury consider appropriate for purposes of, or connected with, any relevant provision.

3

Provision made as a result of subsection (2)(e) may amend any primary or subordinate legislation, including any provision of, or made under, this Act.

4

“Relevant provision” means this section or any provision made under this section.