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35(1)Article 304(5) (treatment of clearing members' exposure to clients) is amended as follows.U.K.
(2)In the first subparagraph, for “The FCA and the PRA may each” substitute “ The PRA may ”.
(3)In the second subparagraph, for “the FCA or the PRA (as the case may be)” substitute “ the PRA ”.
Commencement Information
I1Sch. 1 para. 35 in force at 1.1.2022 by S.I. 2021/671, reg. 5(1)(b) (with reg. 5(2)) (as amended by S.I. 2021/1163, regs. 1(2), 2)