Section 7A(1)

Where the Bank of England is considering the imposition of a requirement under section 3A(2), (4), (4B)(b), (5) or (6), the Bank must consult the PRA and the FCA, and have regard to the potential impact of the requirement on— the institution in question, the market for financial services within the United Kingdom, and the financial stability of the United Kingdom.

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