SCHEDULES

SCHEDULE 3Prudential regulation of credit institutions etc

PART 3Minor and consequential amendments

Financial Services and Markets Act 2000 (c. 8)

10

The Financial Services and Markets Act 2000 is amended as follows.

11

In section 137G (the PRA's general rules), at the end insert—

“(7)

Subsection (6) is subject to section 144H(2).”

12

In section 138J(10) (consultation by the PRA), for “section 138L” substitute “ sections 138L and 144E(3). ”

13

In section 138K (consultation: mutual societies), at the end insert—

“(7)

This section is subject to section 144E(3).”

14

(1)

Section 192O (interpretation of Part 12B) is amended as follows.

(2)

In subsection (1)—

(a)

in the definition of “Directive 2013/36/EU UK law”, omit the words following paragraph (b), and

(b)

after that definition insert—

““EU tertiary legislation” has the meaning given in section 20 of the European Union (Withdrawal) Act 2018;”.

(3)

At the end insert—

“(3)

In this Part, references to instruments made under the capital requirements regulation include EU tertiary legislation made under that regulation which forms part of retained EU law.”

15

In section 192R(3) (grant of approval)—

(a)

in paragraph (a) omit “, section 192V rules” and the “and” at the end, and

(b)

after that paragraph insert—

“(aa)

adequate for the purpose of complying with section 192XA rules, and”.

16

(1)

Section 192T (measures) is amended as follows.

(2)

In subsection (1)—

(a)

omit the “and” at the end of paragraph (a),

(b)

in paragraph (b) omit “, section 192V rules”, and

(c)

at the end of paragraph (b) insert“, and

(c)

to ensure that the relevant group complies with section 192XA rules.”

(3)

In subsection (2)(c)—

(a)

omit “, section 192V rules”, and

(b)

at the end insert “ and with section 192XA rules ”.

17

In section 192Y(1) (power to impose penalty or issue censure)—

(a)

omit paragraph (c) (including the “or” at the end), and

(b)

after that paragraph insert—

“(ca)

section 192XA rules; or”.

18

In section 417(1) (definitions), at the appropriate place, insert—

““CRR rules” has the meaning given in section 144A;”.

19

In section 429(2) (parliamentary control of statutory instruments: affirmative procedure), before “214A” insert “ 144C(1), 144F, ”.