59(1)In section 129A (modifications for banks not regulated by PRA), the table in subsection (2) is amended as follows.U.K.
(2)In the entry for section 96, in column 2, for paragraphs (a) and (b) substitute—
“(a)Read subsection (2)(a) as “the FCA has informed the Bank of England that the FCA is satisfied that Condition 1 in section 7 is met,”.
(b)Treat the references to the PRA in subsection (3) as references to the FCA.
(ba)Read subsection (3)(a) as “the Bank of England—(i) has informed the FCA that it is satisfied that Condition 2 in section 7 is met, and (ii) has consented to the application,”.”
(3)In the entry for section 108, in column 2—
(a)for paragraph (b) substitute—
“(b)Treat the reference in subsection (2) to the FCA as a reference to the Bank of England.”;
(b)omit paragraph (c).
(4)In the entry for section 117, in column 2, for paragraph (b) substitute—
“(b)Treat the reference in subsection (2) to the FCA as a reference to the Bank of England.”
Commencement Information
I1Sch. 2 para. 59 in force at 1.3.2017 by S.I. 2017/43, reg. 2(g)