PART 1Ring-fencing

Ring-fencing

3Amendment of PRA power of direction

In section 3I of FSMA 2000 (power of PRA to require FCA to refrain from specified action), in subsection (4)—

(a)

at the end of paragraph (a), omit “or”, and

(b)

at the end of paragraph (b), insert“, or

(c)

threaten the continuity of core services provided in the United Kingdom.”