Section 206N(2)

The Bank of England must— consult the FCA before taking action under this Part in respect of a person who is, or has applied to be, an FCA-regulated person; consult the PRA before taking action under this Part in respect of a person who has, or has applied for, Part 4A permission for the carrying on of a PRA-regulated activity; consult the Payment Systems Regulator before taking action under this Part in respect of a participant in a regulated payment system.

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