Assumption of risk: notification to PRAU.K.
This section has no associated Explanatory Memorandum
60.—(1) Where a protected cell company assumes a risk from an undertaking, the protected cell company must notify the PRA.
(2) The notification must be sent to the PRA within a period of 5 working days beginning with the day the protected cell company assumed the risk.
(3) Rules made under section 137G (the PRA's general rules) of FSMA M1 may specify—
(a)the form in which such a notification is to be made;
(b)the information to be included with such a notification; and
(c)the form in which any such information is to be provided.
Marginal Citations
M1Section 137G was inserted by section 24 of the Financial Services Act 2012.