Section 26(2)

The PRA may vary an approval under section 59 for the performance of a designated senior management function in relation to the carrying on of a regulated activity by a relevant authorised person if— either— the PRA gave the approval, or the FCA gave the approval and the relevant authorised person is a PRA-authorised person, and the PRA considers that it is desirable to do so in order to advance any of its objectives.

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