Section 25(4)

In section 2H— in the title, for “competition objective” substitute “objectives”; for subsection (1) substitute— When discharging its general functions in a way that advances its objectives (see section 2F), the PRA must, so far as reasonably possible, act in a way that advances the following secondary objectives— the competition objective, and the competitiveness and growth objective. The competition objective is: facilitating effective competition in the markets for services provided by PRA-authorised persons in carrying on regulated activities. The competitiveness and growth objective is: facilitating, subject to aligning with relevant international standards— the international competitiveness of the economy of the United Kingdom (including in particular the financial services sector through the contribution of PRA-authorised persons), and its growth in the medium to long term.

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