Schedule 17A, Part 2, paragraph 10

The following provisions of Part 9A of this Act are to apply in relation to rules made by the Bank under any provision made by or under this Act— section 137T (general supplementary powers); sections 138A and 138B (modification or waiver of rules), but with the omission of subsection (5) of section 138A, subsection (4) of section 138B, and, apart from in relation to rules made under section 300F, subsection (4)(b) of section 138A; section 138BA (disapplication or modification of rules in individual cases); section 138C (evidential provisions); section 138D (actions for damages), but with the omission of subsections (2) and (3), and any references to those subsections; section 138E (limits on effect of contravening rules); section 138EA (matters to consider when making rules); section 138F (notification of rules) but with the omission of subsections (1A) and (2); section 138G (rule-making instruments); section 138H (verification of rules); section 138J (consultation), but with the omission of subsections (1)(a), (2)(c) and (5)(b); ... section 138JA(2), (3) (4), (10) and (11) (duties in relation to PRA Cost Benefit Analysis Panel); section 138JB (statement of policy in relation to cost benefit analyses); section 138L (consultation: general exemptions), but with the omission of subsection (1); section 141A (power to make consequential amendments of references to rules); section 141B (power to consequentially amend enactments). Any reference in any of those provisions to an authorised person is to be read as a reference to a recognised clearing house ... or a recognised CSD or other persons in respect of whom FMI functions are exercised. Section 137T has effect as if, in paragraph (b), for “the other regulator” there were substituted “the FCA or the PRA”. Section 138A has effect as if the reference in subsection (4)(b) to any of the regulator’s objectives were a reference to the Bank’s Financial Stability Objective. Section 138BA has effect as if subsection (3)(b) and (c) were omitted. Section 138EA(5) has effect as if, for paragraphs (a) and (b), there were substituted “complying with a recommendation of the Financial Policy Committee of the Bank of England under section 9O of the Bank of England Act 1998 (making of recommendations within the Bank). Section 138J(2)(d) has effect in relation to rules proposed to be made by the Bank as if the reference to the compatibility of the proposed rules with the provisions mentioned in section 138J(2)(d) were a reference to their compatibility with the Bank's financial stability objective. Section 138J(8A) has effect as if, in paragraph (a), for sub-paragraphs (i) and (ii) there were substituted “be prejudicial to advancing the Financial Stability Objective, or”. Section 138L(2) has effect as if for paragraphs (a) and (b) there were substituted “be prejudicial to financial stability”. Sub-paragraphs (1) to (4) do not apply in relation to rules made by the Bank under section 312M (in relation to which see paragraph 10A). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: legislation.gov.uk · retrieved 2026-09-04