Sch 4 para 26
(1) Paragraph 5 (notice to Authority) is amended as follows. (2) In sub-paragraph (2), for “the Authority” substitute “ the appropriate UK regulator ” . (3) After sub-paragraph (2) insert— (2A) The appropriate UK regulator” means— (a) where any of the activities to which the notice relates is a PRA-regulated activity, the PRA; (b) in any other case, the FCA. (2B) Where the PRA receives a notice under sub-paragraph (2), it must give a copy to the FCA without delay. (2C) Where the FCA receives a notice under sub-paragraph (2) from— (a) a PRA-authorised person, or (b) a person whose immediate group includes a PRA-authorised person, it must give a copy to the PRA without delay. (4) For sub-paragraph (4) substitute— (4) Subsections (1), (4) and (8) of section 55U apply to a notice under sub-paragraph (2) as they apply to an application for a Part 4A permission. (5) In the italic heading immediately before paragraph 5, for “Authority” substitute “ UK regulator ” .