PART
12B

Approval of certain holding companies

Statement of policy relating to directions: procedure
192Z3
1
Before issuing a statement of policy under section 192Z2, the PRA must—
a
consult the FCA; and
b
publish a draft of the proposed statement in the way appearing to the PRA to be best calculated to bring it to the attention of the public.
2
The draft must be accompanied by notice that representations about the proposal may be made to the PRA within a specified time.
3
Before issuing the proposed statement, the PRA must have regard to any representations made to it in accordance with subsection (2).
4
If the PRA issues the proposed statement it must publish an account, in general terms, of—
a
the representations made to it in accordance with subsection (2); and
b
its response to them.
5
If the statement differs from the draft published under subsection (2) in a way which is, in the opinion of the PRA, significant, the PRA must—
a
consult the FCA again before issuing it; and
b
in addition to complying with subsection (4), publish details of the difference.
6
The PRA may charge a reasonable fee for providing a person with a draft published under subsection (1)(b).
7
This section also applies to a proposal to alter or replace a statement.
Pt. 12B inserted (28.12.2020 for specified purposes, 29.12.2020 in so far as not already in force) by The Financial Holding Companies (Approval etc.) and Capital Requirements (Capital Buffers and Macro-prudential Measures) (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1406), regs. 1(3)(a)(b), 2(7) (with reg. 5)