[F12AThe Prudential Regulation AuthorityU.K.
(1)The body corporate originally incorporated as the Prudential Regulation Authority Limited is renamed as the Prudential Regulation Authority.
(2)The Prudential Regulation Authority is in this Act referred to as “the PRA”.
(3)The PRA is to have the functions conferred on it by or under this Act.
(4)The PRA must comply with the requirements as to its constitution set out in Schedule 1ZB.
(5)Schedule 1ZB also confers on the Bank of England functions in relation to the PRA and makes provision about the status of the PRA and the exercise of certain of its functions.
(6)References in this Act or any other enactment to functions conferred on the PRA by or under this Act include references to functions conferred on the PRA by or under—
(a)the Insolvency Act 1986,
(b)the Banking Act 2009,
(c)the Financial Services Act 2012, or
(d)a qualifying EU provision that is specified, or of a description specified, for the purposes of this subsection by the Treasury by order.]
Textual Amendments
F1Pt. 1A substituted for Pt. 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), ss. 6(1), 122(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.