C1Part 1Special Resolution Regime
F1Banks not regulated by PRA
S. 83A and cross-heading inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 28 (with Sch. 20); S.I. 2013/423, art. 3, Sch.
83AModifications of Part
1
In the application of this Part to an FCA-regulated bank the modifications specified in the Table apply.
2
In this section—
“ FCA-regulated bank ” means a bank which does not carry on any activity which is a PRA-regulated activity for the purposes of the Financial Services and Markets Act 2000;
“ immediate group ” has the meaning given by section 421ZA of the Financial Services and Markets Act 2000;
“ PRA-authorised person ” has the meaning given by section 2B(5) of that Act.
Provision | Modification |
---|---|
Section 7 | (a) Treat the references to the PRA in subsections (1), (4), (4A) and (5) as references to the FCA. (b) Ignore subsection (5)(aa). (c) If the bank has as a member of its immediate group a PRA-authorised person the FCA must consult the PRA before determining whether or not Condition 2 is met. |
Section 8 | Subsection (3)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 9 | Subsection (4)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 24 | Ignore subsection (1)(c). |
Section 25 | Ignore subsection (2)(c). |
Section 26 | Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 26A | Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 27 | Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 28 | Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 29 | Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 30 | Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 31 | Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 41 | Ignore subsection (1)(c). |
Section 42 | Subsection (5)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 42A | Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 43 | Subsection (7)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 44 | Subsection (6)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 45 | Subsection (8)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 46 | Subsection (7)(a) does not apply unless the bank has as a member of its immediate group a PRA-authorised person. |
Section 81B |
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Section 82 |
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Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2