Section 55M(2)

The PRA may exercise its power under subsection (3) in relation to a PRA-authorised person with a Part 4A permission (“P”) if it appears to the PRA that— P is failing, or is likely to fail, to satisfy the threshold conditions for which the PRA is responsible, P has failed, during a period of at least 12 months, to carry on a regulated activity to which the Part 4A permission relates, or it is desirable to exercise the power in order to advance any of the PRA's objectives.

← 1 · All articles · 3 →

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