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The Financial Services Act 2012 (Mutual Societies) Order 2013

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3.—(1) For the purposes of the provisions specified in sub-paragraph (2), functions transferred by this Order are to be treated as functions conferred on the PRA under a provision of FSMA 2000.

(2) The provisions are—

(a)section 2A(3) and Schedule 1ZB (which make general provision in relation to the PRA and its functions);

(b)sections 2B to 2I (the PRA’s general duties);

(c)section 2O(1) (reviews);

(d)sections 3D (duty of FCA and PRA to ensure co-ordinated exercise of functions);

(e)section 3E (memorandum of understanding); and

(f)sections 3I to 3K (power of PRA to restrain proposed action by FCA).

(1)

Sections 2A to 2I and section 2O of, and Schedule 1ZB to, FSMA 2000 are inserted by section 6 of and Schedule 3 to the 2012 Act.

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