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Financial Services and Markets Act 2000
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- UK Public General Acts
- 2000 c. 8
- Part XIX
- General
- Section 314A
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Changes over time for: Section 314A
Alternative versions:
- 24/01/2013- Amendment
- 01/04/2013- Amendment
- 22/07/2020
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Point in time view as at 22/07/2020.
Changes to legislation:
Financial Services and Markets Act 2000, Section 314A is up to date with all changes known to be in force on or before 13 November 2024. 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.
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[F1314AThe PRA's objectives in relation to Lloyd's etcU.K.
This section has no associated Explanatory Notes
(1)This section modifies—
(a)the effect of sections 2B and 2C (the PRA's general objective and insurance objective), and
(b)the effect of section 3I (power of PRA to require FCA to refrain from specified action),
in relation to anything done, or proposed to be done, by the PRA under or for the purposes of this Part.
(2)This section applies only if PRA-authorised persons include—
(a)the Society, or
(b)other persons who carry on regulated activities in relation to anything done at Lloyd's.
(3)Section 2B(2) and (3) have effect as if references to PRA-authorised persons (or a PRA-authorised person) were references to the Society, and the members of the Society, taken together (and sections 2G and 2J(3) are to be read accordingly).
(4)Section 2C(1) has effect as if the reference to the discharge of the PRA's general functions so far as relating to the activity mentioned there were a reference to the discharge of its general functions so far as relating to the carrying on by the Society or other persons of PRA-regulated activities in relation to anything done at Lloyd's.
(5)Section 3I(4)(b) has effect as if the reference to a PRA-authorised person were a reference to the Society, and the members of the Society, taken together.]
Textual Amendments
F1S. 314A inserted (24.1.2013) by Financial Services Act 2012 (c. 21), ss. 40(3), 122(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3
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