Section 22(3)

After section 32 insert— The Treasury must, for each reporting period, prepare a report about the operation of Schedule 2A during the period. The report must, among other things, consider whether the conditions in paragraphs 7, 8 and 9 of Schedule 2A continue to be satisfied in connection with each regulated activity which is an approved activity for the purposes of that Schedule. The Treasury must consult the FCA and the PRA during the preparation of the report. The Treasury must lay a copy of the report before Parliament as soon as reasonably practicable after the end of the reporting period. The reporting periods are— the period of two years beginning with the day on which Schedule 2A comes fully into force, and each subsequent period of two years.

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