SCHEDULES
SCHEDULE 17Amendments of Banking Act 2009 related to Part 2 of this Act
PART 3Amendments of Part 3 to the Act
I150
After section 157 insert—
157ABanks not regulated by PRA
1
In the application of this Part to an FCA-regulated bank the modifications specified in the Table apply.
2
In this section “FCA-regulated bank” means a bank which does not carry on any activity which is a PRA-regulated activity for the purposes of the Financial Services and Markets Act 2000.
TABLE OF MODIFICATIONS
Provision
Modification
Section 147
The bank administrator must send the statement to the FCA (and need not send a copy of it to the PRA).
Section 153
Ignore the reference to the PRA in subsection (3).
Section 157
Ignore the reference to the PRA in subsection (1).