PART 1A

The Regulators
CHAPTER 3

Further provisions relating to FCA and PRA

Arrangements for provision of services

Arrangements for provision of services
3R
1
The regulators may enter into arrangements with each other for the provision of services by one of them to the other.
2
The FCA
may enter into arrangements with the Bank of England for the provision of services—
a
by the Bank to the
FCA
, or
b
by the
FCA
to the Bank.
3
Either regulator may enter into arrangements with any of the bodies specified in subsection (4) for the provision of services by the regulator to that body.
4
Those bodies are—
a
the
Money and Pensions Service
(see Part 1 of the Financial Guidance and Claims Act 2018),
b
the scheme manager (see section 212(1)), and
c
the scheme operator (see section 225(2)).
5
The FCA may enter into arrangements with—
a
a local weights and measures authority in England, Wales or Scotland, or
b
the Department of Enterprise, Trade and Investment in Northern Ireland,
for the provision by the authority or department to the FCA of services which relate to activities to which this subsection applies.
6
Subsection (5) applies to activities that are regulated activities by virtue of—
a
an order made under section 22(1) in relation to an investment of a kind falling within paragraph 23 or 23B of Schedule 2, or
b
an order made under section 22(1A)(a).
7
Arrangements under this section are to be on such terms as may be agreed by the parties.
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.
Word in s. 3R(2)(a) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 31(b) (with Sch. 3); S.I. 2017/43, reg. 2(g)
Words in s. 3R(2) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 31(a) (with Sch. 3); S.I. 2017/43, reg. 2(g)
Word in s. 3R(2)(b) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 31(b) (with Sch. 3); S.I. 2017/43, reg. 2(g)
S. 3R(4)(a) substituted (1.10.2018) by Financial Guidance and Claims Act 2018 (c. 10), s. 37(5), Sch. 3 para. 11; S.I. 2018/1029, reg. 2(q) (with Sch. para. 1)
Words in s. 3R(4)(a) substituted (6.4.2019) by The Financial Guidance and Claims Act 2018 (Naming and Consequential Amendments) Regulations 2019 (S.I. 2019/383), reg. 1(1), Sch. para. 7(a)