Section 63E(4)

The PRA may specify a description of function under subsection (2)(a) only if, in relation to the carrying on of a regulated activity by a ... PRA-authorised person of a particular description— the function is not a controlled function in relation to the carrying on of that activity by a ... PRA-authorised person of that description, but the PRA is satisfied that the function is nevertheless a significant-harm function.

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