Schedule 3, Part 1, paragraph 1(5)

If the PRA proposes CRR rules that change existing CRR rules and the changes consist of or include changes which, in the PRA's opinion, are not material— the explanation described in section 144D(1) is not required in relation to the rules to the extent that they make those changes, but the draft of the rules must be accompanied by a statement of the PRA's opinion.

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