Section 192Z3

Before issuing a statement of policy under section 192Z2, the PRA must— consult the FCA; and publish a draft of the proposed statement in the way appearing to the PRA to be best calculated to bring it to the attention of the public. The draft must be accompanied by notice that representations about the proposal may be made to the PRA within a specified time. Before issuing the proposed statement, the PRA must have regard to any representations made to it in accordance with subsection (2). If the PRA issues the proposed statement it must publish an account, in general terms, of— the representations made to it in accordance with subsection (2); and its response to them. If the statement differs from the draft published under subsection (2) in a way which is, in the opinion of the PRA, significant, the PRA must— consult the FCA again before issuing it; and in addition to complying with subsection (4), publish details of the difference. The PRA may charge a reasonable fee for providing a person with a draft published under subsection (1)(b). This section also applies to a proposal to alter or replace a statement.

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