6U.K.In relation to the first order under section 9L of the Bank of England Act 1998, subsection (2) of that section (which relates to consultation) does not apply.
Commencement Information
I1Sch. 20 para. 6 in force at 24.1.2013 by S.I. 2013/113, art. 2(1)(a), Sch. Pt. 1
7(1)This paragraph applies where a provision of Part 5 or 6 of this Act, or an amendment of FSMA 2000 made by any provision of this Act, imposes on the FCA, the PRA or the Bank of England, in connection with the making or issuing of any rules or other instrument or document—U.K.
(a)a public consultation requirement, or
(b)a requirement (however expressed) to consult particular persons.
(2)The requirement may be satisfied—
(a)by things done (wholly or in part) before the commencement of the provision in question or the passing of this Act, and
(b)by things done by the Financial Services Authority or the Bank of England or by both of them.
(3)“Public consultation requirement” means a requirement (however expressed) to publish a draft of the instrument or other document with or without other material and to invite representations about it.
Modifications etc. (not altering text)
C1Sch. 20 para. 7 applied (20.2.2013) by The Financial Services Act 2012 (Transitional Provisions) (Rules and Miscellaneous Provisions) Order 2013 (S.I. 2013/161), arts. 1(1), 7(2)
Commencement Information
I2Sch. 20 para. 7 in force at 24.1.2013 by S.I. 2013/113, art. 2(1)(a), Sch. Pt. 1
8(1)The first order under section 22A of FSMA 2000 may, if it imposes on the PRA a public consultation requirement in relation to any statement of policy required by the order to be prepared by the PRA, provide that in relation to the first statement of policy the requirement may be satisfied—U.K.
(a)by things done (wholly or in part) before the commencement of the order or the passing of this Act, and
(b)by things done by the Financial Services Authority or the Bank of England or by both of them.
(2)“Public consultation requirement” has the same meaning as in paragraph 7.
Commencement Information
I3Sch. 20 para. 8 in force at 24.1.2013 by S.I. 2013/113, art. 2(1)(a), Sch. Pt. 1