[F1 PART 1A U.K. The Regulators

Textual Amendments

F1 Pt. 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.

CHAPTER 2 U.K. The Prudential Regulation Authority

The PRA's general duties U.K.

[F2 2H Secondary competition objective and duty to have regard to regulatory principles U.K.

(1) When discharging its general functions in a way that advances its objectives (see section 2F), the PRA must so far as is reasonably possible act in a way which, as a secondary objective, facilitates effective competition in the markets for services provided by PRA-authorised persons in carrying on regulated activities.

(2) In discharging its general functions, the PRA must also have regard to the regulatory principles in section 3B.]]

Textual Amendments

F2 S. 2H substituted (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 130(1), 148(5); S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1