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The Capital Requirements Regulations 2013

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  1. Introductory Text

  2. PART 1

    1. 1.Citation, commencement and expiry

    2. 2.Interpretation

  3. PART 2

    1. 3.Capital Requirements Regulations 2006: revocation

  4. PART 3

    1. 4.Main provisions of the capital requirements directive and capital requirements regulation

    2. 5.Capital buffers and Article 458 of the capital requirements regulation

  5. PART 4 PRAFCA

    1. 6.Co-operation within the European System of Financial Supervision

    2. 7.Co-operation with EBA

    3. 8.Information gathering, planning and co-ordination duties

    4. 9.Requirement to consult other competent authorities: major sanctions or exceptional measures

    5. 10.Emergency situations: notification requirements

    6. 11.Collaboration concerning supervision of cross-border institutions

    7. 12.On-the-spot checks and inspections: during CRD transitional period

    8. 13.On-the-spot checks or inspections: after CRD transitional period

    9. 14.On-the-spot checks and inspections: powers of EEA competent authorities

    10. 15.Significant branches: UK is the host EEA State

    11. 16.Significant branches: UK is the home EEA State or EEA consolidating supervisor

    12. 17.Duties to notify EBA and EIOPA

  6. PART 5 PRAFCA

    1. 18.General disclosures required of PRA and FCA

    2. 19.Specific disclosures required of PRA and FCA

  7. PART 6

    1. 20.Determination of the consolidating supervisor

    2. 21.Assessment of equivalence of consolidated supervision by supervisory authorities in non-EEA States

    3. 22.Co-ordination and co-operation arrangements

    4. 23.Co-ordination of supervisory activities by the EEA consolidating supervisor

    5. 24.The Bank’s general duties

    6. 25.Exchange of information

    7. 26.Obtaining information already disclosed

    8. 27.Verification of information by a competent authority in another EEA State

    9. 28.Requirement to establish list of holding companies

    10. 29.Joint decisions on own funds: PRA or FCA is the EEA consolidating supervisor

    11. 30.Joint decisions on own funds: PRA or FCA is not the EEA consolidating supervisor

    12. 31.Joint decision on liquidity: PRA or FCA is the EEA consolidating supervisor

    13. 32.Joint decision on liquidity: PRA or FCA is not the EEA consolidating supervisor

    14. 33.Colleges of supervisors

  8. PART 7 PRAFCA

    1. 34.Supervisory powers: own funds

    2. 35.Specific liquidity requirements

    3. 36.Employee remuneration

    4. 37.Diversity practices

    5. 38.Consultation with EBA: supervisory benchmarking of internal approaches for calculation own funds requirements

  9. PART 8 CRR

    1. 39.Meaning of “permission” and “protected item” in this Part

    2. 40.Applications for permissions: process, information and documents

    3. 41.Decisions: written notices

    4. 42.Appeals

    5. 43.Publication of written notices

    6. 44.Transitional provision for matters done before commencement

  10. PART 9 PRAFCA

    1. 45.Misleading the PRA or FCA

  11. PART 10

    1. 46.Amendments and revocations

  12. Signature

    1. SCHEDULE 1

      CRD transitional arrangements

    2. SCHEDULE 2

      Amendments to primary and secondary legislation

      1. PART 1 Amendments to FSMA

        1. 1.FSMA is amended as follows.

        2. 2.In section 1H(8) (further interpretative provisions for sections 1B to...

        3. 3.In section 3M (directions relating to consolidated supervision of groups),...

        4. 4.In section 39(8) (exemption of appointed representatives) for “banking consolidation...

        5. 5.In section 55J(6A) (variation or cancellation on initiative of regulator),...

        6. 6.In section 55R (persons connected with an applicant), after subsection...

        7. 7.In section 55Z2 (notification of EBA)— (a) at the end...

        8. 8.After section 55Z2 insert— Notification of the European bodies A regulator must notify the European Commission and the European...

        9. 9.In section 86(10)(a) (exempt offers to the public) for “banking...

        10. 10.In section 184 (disregarded holdings)— (a) for subsection (8)(a) substitute—...

        11. 11.In section 186(b) (assessment criteria) after “the reputation”, insert “,...

        12. 12.In section 188 (assessment: consultation with EC competent authorities) in...

        13. 13.In section 190(4)(b)(v) (requests for further information) for “banking consolidation...

        14. 14.In section 191G(1) (interpretation), in paragraph (a) of the definition...

        15. 15.After section 194A (contravention by relevant EEA firm with UK...

        16. 16.In section 199— (a) for subsection (7) substitute—

        17. 17.In section 301E (disregarded holdings)— (a) for subsection (8)(a) substitute—...

        18. 18.In section 301M(1) (interpretation) in paragraph (a) of the definition...

        19. 19.In section 313D (interpretation of part 18A) in paragraph (c)...

        20. 20.(1) Section 342 (information given by auditor or actuary to...

        21. 21.(1) Section 343 (information given by auditor or actuary to...

        22. 22.In section 391 (publication), after subsection (4) insert—

        23. 23.After section 391 insert— Publication: special provisions relating to certain...

        24. 24.In section 417(1) (definitions), at the appropriate places, insert— “capital...

        25. 25.In section 422 (controller)— (a) in subsection (5)(a)(v) for “subsidiary...

        26. 26.In section 422A (disregarded holdings)— (a) for subsection (8)(a) substitute—...

        27. 27.In section 425(1)(a) (expressions relating to authorisation elsewhere in the...

        28. 28.In section 425A(7) (consumers: regulated activities etc carried on by...

        29. 29.(1) Schedule 3 (EEA passport rights) is amended as follows....

        30. 30.In paragraph 8(6) of Schedule 11A (transferrable securities) for “Article...

      2. PART 2 Amendments to other primary legislation

        1. 31.Superannuation Act 1972

        2. 32.Consumer Credit Act 1974

        3. 33.Judicial Pensions Act 1981

        4. 34.Building Societies Act 1986

        5. 35.In paragraph 23 of Schedule 2 to the Building Societies...

        6. 36.Judicial Pensions and Retirement Act 1993

        7. 37.Criminal Justice Act 1993

        8. 38.Bank of England Act 1998

        9. 39.For section 41 (general interpretation) substitute— General interpretation In this Act— “the Bank” means the Bank of England;...

        10. 40.Terrorism Act 2000

        11. 41.Proceeds of Crime Act 2002

        12. 42.Companies Act 2006

        13. 43.Banking (Special Provisions) Act 2008

        14. 44.Counter-Terrorism Act 2008

        15. 45.Banking Act 2009

      3. PART 3 Amendments to secondary legislation

        1. 46.Credit Institutions (Protection of Depositors) Regulations 1995

        2. 47.Cash Ratio Deposits (Eligible Liabilities) Order 1998

        3. 48.Financial Markets and Insolvency (Settlement Finality) Regulations 1999

        4. 49.Competition Act 1998 (Small Agreements and Conduct of Minor Significance) Regulations 2000

        5. 50.Competition Act 1998 (Determination of Turnover for Penalties) Order 2000

        6. 51.Financial Services and Markets Act 2000 (Regulated Activities) Order 2001

        7. 52.Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges and Clearing Houses) Regulations 2001

        8. 53.Financial Services and Markets Act 2000 (Appointed Representatives) Regulations 2001

        9. 54.Financial Services and Markets Act 2000 (Compensation Scheme: Electing Participants) Regulations 2001

        10. 55.Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001

        11. 56.Financial Services and Markets Act 2000 (EEA Passport Rights) Regulations 2001

        12. 57.Financial Services and Markets Act 2000 (Gibraltar) Order 2001

        13. 58.Financial Services and Markets Act 2000 (Confidential Information) (Bank of England) (Consequential Provisions) Order 2001

        14. 59.Uncertificated Securities Regulations 2001

        15. 60.Enterprise Act 2002 (Merger Fees and Determination of Turnover) Order 2003

        16. 61.Financial Collateral Arrangements (No. 2) Regulations 2003

        17. 62.Conduct of Employment Agencies and Employment Businesses Regulations 2003

        18. 63.Credit Institutions (Reorganisation and Winding Up) Regulations 2004

        19. 64.Financial Conglomerates and Other Financial Groups Regulations 2004

        20. 65.Building Societies Act 1986 (Modification of the Lending Limit and Funding Limit Calculations) Order 2004

        21. 66.Gambling (Operating Licence and Single-Machine Permit Fees) Regulations 2006

        22. 67.Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2007

        23. 68.Money Laundering Regulations 2007

        24. 69.Regulated Covered Bonds Regulations 2008

        25. 70.Payment Services Regulations 2009

        26. 71.Banking Act 2009 (Restriction of Partial Property Transfers) Order 2009

        27. 72.Financial Services and Markets Act 2000 (Controllers) (Exemption) Order 2009

        28. 73.Provision of Services Regulations 2009

        29. 74.Occupational and Personal Pension Schemes (Automatic Enrolment) Regulations 2010

        30. 75.Electronic Money Regulations 2011

        31. 76.Recognised Auction Platforms Regulations 2011

        32. 77.Financial Services and Markets Act 2000 (Prescribed Financial Institutions) Order 2013

        33. 78.Financial Services and Markets Act 2000 (PRA-regulated Activities) Order 2013

        34. 79.Bank of England Act 1998 (Macro-prudential Measures) Order 2013

        35. 80.Alternative Investment Fund Managers Regulations 2013

    3. SCHEDULE 3

      Revocations

  13. Explanatory Note

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