Sch 17 para 45
After section 129 insert— Banks not regulated by PRA (129A) (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 (2) and (3) as references to the FCA. (b) If the bank has as a member of its immediate group a PRA-authorised person the Bank of England must consult the PRA before applying for a bank insolvency order. (c) The FCA must consult the PRA before applying for a bank insolvency order. (a) Treat the reference to two individuals in subsection (2)(a) as a reference to one individual. (b) Ignore subsection (2)(b). (c) Ignore the reference to the PRA in subsection (6)(c). (a) Treat the reference to the PRA in subsections (1) and (2) as a reference to the FCA. (b) Ignore the duty to consult the FCA in subsection (2). (c) Ignore the reference to the PRA in subsection (3). (a) Treat the reference to the PRA in subsection (2) as a reference to the FCA. (b) Ignore the duty to obtain the consent of the FCA in subsection (2)(a). (a) Treat the references to the PRA in subsections (5), (7) and (10) as references to the FCA. (b) Ignore the duty to inform the FCA in subsection (10)(a).