SCHEDULES
F1SCHEDULE 1ZBThe Prudential Regulation Authority
PART 1General
Annual report
C219
C11
At least once a year the PRA must make a report to the F5Chancellor of the Exchequer on—
a
the discharge of its functions,
b
the extent to which, in its opinion, its objectives have been advanced,
F2ba
how it has complied with section 2H(1),
c
its consideration of the principles in section 3B F3...,
d
how it has complied with section 3D,
e
any direction given under section 3I or 3J during the period to which the report relates,
f
how it has complied with section 354B(1) so far as relating to co-operation with persons outside the United Kingdom, and
g
such other matters as the Treasury may from time to time direct.
F91A
In the report the PRA must also report in general terms on—
a
the extent to which, in its opinion, ring-fenced bodies have complied with the ring-fencing provisions,
b
steps taken by ring-fenced bodies in order to comply with the ring-fencing provisions,
c
steps taken by it to enforce the ring-fencing provisions,
d
the extent to which ring-fenced bodies are carrying on the regulated activity of dealing in investments as principal (whether in the United Kingdom or elsewhere) in circumstances where as a result of an order under section 142D(2) that activity is not an excluded activity,
e
the extent to which ring-fenced bodies are carrying on activities that would be excluded activities by virtue of an order under section 142D(4) but for an exemption or exclusion made by such an order,
f
the extent to which ring-fenced bodies are doing things that they would be prohibited from doing by an order under section 142E but for an exemption made by such an order, and
g
the extent to which ring-fenced bodies appear to it to have acted in accordance with any guidance which it has given to ring-fenced bodies and which relates to the operation of the ring-fencing provisions.
1B
In sub-paragraph (1A)—
a
references to “ring-fenced bodies” relate only to ring-fenced bodies that are PRA-authorised persons, and
b
“the ring-fencing provisions” means ring-fencing rules and the duty imposed as a result of section 142G.
2
F10Sub-paragraphs (1) and (1A) do not require the inclusion in the report of any information whose publication would in the opinion of the PRA be against the public interest.
3
The report must be accompanied by—
F6a
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
b
such other reports or information, prepared by such persons, as the Treasury may from time to time direct.
4
F45
The Chancellor may comply with sub-paragraph (4) by laying a document containing a report under this paragraph together with a report under section 4 of the Bank of England Act 1998.
Schs. 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.