[F1BudgetU.K.
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.
18(1)The PRA must, for each of its financial years, adopt an annual budget which has been approved by the Bank.U.K.
(2)The budget must be adopted before the start of the financial year to which it relates, except that the first budget must be adopted as soon as reasonably practicable after the coming into force of this paragraph.
(3)The PRA may, with the approval of the Bank, vary the budget for a financial year at any time after its adoption.
(4)The PRA must publish each budget, and each variation of a budget, in such manner as the PRA thinks fit.]