Schedule 10, Part 2, paragraph 3

Section 56 (prohibition orders) is amended as follows— After subsection (7C) insert— If— the FCA must consult the appropriate regulator. the FCA proposes to vary or revoke a prohibition order which makes provision in relation to a recognised body, and the FCA is not the appropriate regulator in relation to recognised bodies of that type, If the PRA proposes to vary or revoke a prohibition order which makes provision in relation to a recognised body, the PRA must consult the appropriate regulator in relation to recognised bodies of that type. For subsection (9) substitute— In this section— “the appropriate regulator”, in relation to a recognised body, has the meaning given by section 285A; “recognised body” has the meaning given by section 313; “specified” means specified in the prohibition order.

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