Section 81AA(11)

For the purposes of subsections (3), (4) and (5), the “appropriate authority” means— in the case of a banking group company which is a PRA-authorised person, the PRA; in the case of a banking group company which is a UK authorised person but not a PRA-authorised person, the FCA; in the case of a banking group company which is not an UK authorised person— . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . if the parent undertaking of the group is not a UK authorised person and there is a PRA-authorised person in the group, the PRA; and in all other cases, the Bank of England.

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