Sch 17 para 28
After section 83 insert— Banks not regulated by PRA Modifications of Part (83A) (1) In the application of this Part to an FCA-regulated bank the modifications specified in the Table apply. (2) In this section— “ FCA-regulated bank ” means a bank which does not carry on any activity which is a PRA-regulated activity for the purposes of the Financial Services and Markets Act 2000; “ immediate group ” has the meaning given by section 421ZA of the Financial Services and Markets Act 2000; “ PRA-authorised person ” has the meaning given by section 2B(5) of that Act. TABLE OF MODIFICATIONS (a) Treat the references to the PRA in subsections (1), (4), (4A) and (5) as references to the FCA. (b) Ignore subsection (5)(aa). (c) If the bank has as a member of its immediate group a PRA-authorised person the FCA must consult the PRA before determining whether or not Condition 2 is met. (a) Treat the reference to the PRA in subsection (2) as a reference to the FCA. (b) Ignore subsection (6)(b). (a) Treat the reference to the PRA in subsection (2) as a reference to the FCA. (b) Ignore subsection (5)(a).