Section 98(2)

The regulators must co-ordinate the exercise of their relevant functions (see subsection (5)) with a view to ensuring— that each regulator consults every other regulator (where not otherwise required to do so) in connection with any proposed exercise of a relevant function in a way that may have a material adverse effect on the advancement by that other regulator of any of its objectives; that where appropriate each regulator obtains information and advice from every other regulator in connection with the exercise of its relevant functions in relation to matters of common regulatory interest in cases where the other regulator may be expected to have relevant information or relevant expertise.

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