The PRA must give, and from time to time review, guidance about how it intends to advance its objectives in discharging its general functions in relation to different categories of PRA-authorised person or PRA-regulated activity.

The reference in subsection (1) to the PRA’s objectives includes, in their application as secondary objectives, the competition objective and competitiveness and growth objective (see section 2H).

Before giving or altering any guidance complying with subsection (1), the PRA must consult the FCA.

The PRA must publish the guidance as for the time being in force.