Schedule 17A, Part 2, paragraph 10A

The following provisions of Part 9A of this Act are to apply in relation to rules made by the Bank under section 312M, subject to the modifications specified in this subsection— section 137T (general supplementary powers) as if— the reference in paragraph (a) to “authorised persons, activity or investment” were a reference to “critical third parties or services”, and for paragraph (b) there were substituted— may make provision by reference to rules made by the FCA or PRA or standards issued by any other person, as those rules or standards have effect from time to time, sections 138A and 138B (modification or waiver of rules) as if— the reference in subsection (4)(b) of section 138A to any of regulator’s objectives were a reference to the Bank’s Financial Stability Objective, subsection (5) of section 138A were omitted, and subsection (4) of section 138B were omitted; section 138BA (disapplication or modification of rules in individual cases) as if subsection (3)(b) and (c) were omitted; section 138C (evidential provisions); section 138E (limits on effect of contravening rules); section 138EA (matters to consider when making rules) as if, for paragraphs (a) and (b) of subsection (5), 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 138F (notification of rules) as if subsections (1A) and (2) were omitted; section 138G (rule-making instruments); section 138H (verification of rules); section 138J (consultation) as if— the reference in subsection (1)(a) to the “FCA” were a reference to the “FCA and the PRA”; the reference in subsection (2)(d) to the compatibility of the proposed rules with the provisions mentioned in that subsection were a reference to their compatibility with the Bank’s Financial Stability Objective; and in subsection (8A), in paragraph (a), for sub-paragraphs (i) and (ii) there were substituted “be prejudicial to advancing the Financial Stability Objective, or”; section 138JA(2), (3) (4), (10) and (11) (duty to consult PRA Cost Benefit Analysis Panel); section 138JB (statement of policy in relation to cost benefit analyses); section 138L (consultation: general exemptions) as if— subsection (1) were omitted, and in subsection (2) for paragraphs (a) and (b) there were substituted “be prejudicial to financial stability.”; section 141A (power to make consequential amendments of references to rules); section 141B (power to consequentially amend enactments).

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