Version Superseded: 01/01/2019
Point in time view as at 24/01/2013. This version of this provision has been superseded.
Financial Services and Markets Act 2000, Section 2B is up to date with all changes known to be in force on or before 07 March 2025. 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.
(1)In discharging its general functions the PRA must, so far as is reasonably possible, act in a way which advances its general objective.
(2)The PRA's general objective is: promoting the safety and soundness of PRA-authorised persons.
(3)That objective is to be advanced primarily by—
(a)seeking to ensure that the business of PRA-authorised persons is carried on in a way which avoids any adverse effect on the stability of the UK financial system, and
(b)seeking to minimise the adverse effect that the failure of a PRA-authorised person could be expected to have on the stability of the UK financial system.
(4)The adverse effects mentioned in subsection (3) may, in particular, result from the disruption of the continuity of financial services.
(5)In this Act “PRA-authorised person” means an authorised person who has permission—
(a)given under Part 4A, or
(b)resulting from any other provision of this Act,
to carry on regulated activities that consist of or include one or more PRA-regulated activities (see section 22A).
(6)Subsection (1) is subject to sections 2C and 2D.]
Textual Amendments
F1Pt. 1A substituted for Pt. 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), ss. 6(1), 122(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.
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.
