PART 1A

The Regulators
CHAPTER 2

The Prudential Regulation Authority

The PRA's general duties

Strategy
2E
1
The PRA must—
a
determine its strategy in relation to its objectives, and
b
from time to time review, and if necessary revise, the strategy.
2
Before determining or revising its strategy, the PRA must consult the court of directors of the Bank of England about a draft of the strategy or of the revisions.
3
The PRA must determine its strategy within 12 months of the coming into force of this section.
4
The PRA must carry out and complete a review of its strategy before the end of each relevant period.
5
The relevant period is 12 months beginning with the date on which the previous review was completed, except that in the case of the first review the relevant period is the period of 12 months beginning with the date on which the strategy was determined under subsection (3).
6
The PRA must publish its strategy.
7
If the strategy is revised the PRA must publish the revised strategy.
8
Publication under subsection (6) or (7) is to be in such manner as the PRA thinks fit.
Pt. 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.