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Financial Services and Markets Act 2000

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Whole provisions yet to be inserted into this Act (including any effects on those provisions):

[F1PART 1U.K.General

Textual Amendments

F1Schs. 1ZA, 1ZB substituted for Sch. 1 (24.1.2013 for specified purposes, 19.2.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 3 (with Sch. 20); S.I. 2013/113, art. 2(1)(b)(c)(2), Sch. Pts. 2, 3, 4; S.I. 2013/423, art. 3, Sch.

InterpretationU.K.

1In this Schedule—

  • F2...

  • functions”, in relation to the PRA, means functions conferred on the PRA by or under any provision of this Act (see section [F32AB(3)] which affects the meaning of references to such functions).

ConstitutionU.K.

F42. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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F43. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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F44. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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F45. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Appointed members of governing bodyU.K.

F46. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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F47. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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F48. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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F49. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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F410. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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F411. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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F412. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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F413. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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F414. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Terms of serviceU.K.

F415. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Arrangements for discharging functionsU.K.

F416. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

RecordsU.K.

17The PRA must maintain satisfactory arrangements for—

(a)recording decisions made in the exercise of its functions, and

(b)the safe-keeping of those records which it considers ought to be preserved.

BudgetU.K.

F518. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annual reportU.K.

19(1)At least once a year the PRA must make a report to the [F6Chancellor of the Exchequer] on—U.K.

(a)the discharge of its functions,

(b)the extent to which, in its opinion, its objectives have been advanced,

[F7(ba)how it has complied with section 2H(1),]

(c)its consideration of the principles in section 3B F8...,

(d)how it has complied with section 3D,

(e)any direction given under section 3I or 3J during the period to which the report relates,

(f)how it has complied with section 354B(1) so far as relating to co-operation with persons outside the United Kingdom, and

(g)such other matters as the Treasury may from time to time direct.

(2)Sub-paragraph (1) does not require the inclusion in the report of any information whose publication would in the opinion of the PRA be against the public interest.

(3)The report must be accompanied by—

F9(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b)such other reports or information, prepared by such persons, as the Treasury may from time to time direct.

(4)The [F10Chancellor of the Exchequer] must lay before Parliament a copy of each report received by [F11the Chancellor] under this paragraph.

[F12(5)The Chancellor may comply with sub-paragraph (4) by laying a document containing a report under this paragraph together with a report under section 4 of the Bank of England Act 1998.]

Textual Amendments

F8Words in Sch. 1ZB para. 19(1)(c) omitted (1.3.2014) by virtue of Financial Services (Banking Reform) Act 2013 (c. 33), ss. 130(3)(a)(ii), 148(5); S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1

Modifications etc. (not altering text)

Consultation about annual reportU.K.

20(1)In relation to each report made under paragraph 19, the PRA must publish at the same time as the report an invitation to members of the public to make representations to the PRA, within the 3 months beginning with the date of publication—U.K.

(a)about the report,

(b)about the way in which the PRA has discharged, or failed to discharge, its functions during the period to which the report relates, and

(c)about the extent to which, in their opinion, the PRA's objectives have been advanced [F13and the PRA has facilitated effective competition in accordance with section 2H and has considered the regulatory principles in section 3B] .

(2)The invitation must be published in the way appearing to it to be best calculated to bring the invitation to the attention of the public.

Textual Amendments

Report on consultationU.K.

21(1)The PRA must publish a report about its consultation in accordance with paragraph 20.U.K.

(2)The report must contain an account, in general terms, of any representations received in pursuance of the invitation published under that paragraph.

(3)The report must be published not later than 4 months after the date on which the report under paragraph 19 was published.

Accounts and auditU.K.

F1422. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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F1423. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

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