Section 142J

The PRA must carry out reviews of its ring-fencing rules and of any rules made by it under section 192JA (rules applying to parent undertakings of ring-fenced bodies). The first review must be completed before the end of the period of 5 years beginning with the day on which the first ring-fencing rules come into force. Subsequent reviews must be completed before the end of the period of 5 years beginning with the day on which the previous review was completed. The PRA must give the Treasury a report of each review. The Treasury must lay a copy of the report before Parliament. The PRA must publish the report in such manner as it thinks fit. If (because any ring-fenced body is not a PRA-authorised person) section 142H has the effect of requiring the FCA to make ring-fencing rules, subsections (1) to (6) apply to the FCA as they apply to the PRA.

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