Schedule 7, Part 5, paragraph 23

The PRA must consult the FCA— before giving a direction under paragraph 9; before deciding to refuse to give a consent notice; before giving a direction under paragraph 14; before deciding to refuse to give a consent to variation notice; before varying a permission under paragraph 17; before cancelling a permission under paragraph 20(2)(b). The PRA must obtain the FCA's consent before exercising its power under paragraph 17 so as to— add an activity to those to which the Schedule 2B permission relates, or widen the description of an activity to which the Schedule 2B permission relates. Consent given by the FCA for the purposes of sub-paragraph (2) may be conditional on the way in which the PRA exercises its power.

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