Section 50(7)

In paragraph 10— in sub-paragraph (1)(b), for the words from “subsection (4)(b)” to the end substitute “subsection (5) of section 138A, subsection (4) of section 138B, and, apart from in relation to rules made under section 300F, subsection (4)(b) of section 138A;”; after sub-paragraph (1)(b) insert— section 138BA (disapplication or modification of rules in individual cases); in sub-paragraph (1)(d) for “subsection (2)” substitute “subsections (2) and (3), and any references to those subsections”; after sub-paragraph (1)(e) insert— section 138EA (matters to consider when making rules); at the end of sub-paragraph (1)(f) insert “but with the omission of subsections (1A) and (2)”; at the end of sub-paragraph (1)(i) omit “and”; after sub-paragraph (1)(i) insert— section 138JA(2), (3) (4), (10) and (11) (duties in relation to PRA Cost Benefit Analysis Panel); section 138JB (statement of policy in relation to cost benefit analyses); after sub-paragraph (1)(j) insert— section 141A (power to make consequential amendments of references to rules); section 141B (power to consequentially amend enactments). in sub-paragraph (2) at the end insert “or other persons in respect of whom FMI functions are exercised”; after sub-paragraph (2) insert— Section 137T has effect as if, in paragraph (b), for “the other regulator” there were substituted “the FCA or the PRA”. Section 138A has effect as if the reference in subsection (4)(b) to any of the regulator’s objectives were a reference to the Bank’s Financial Stability Objective. Section 138BA has effect as if subsection (3)(b) and (c) were omitted. Section 138EA(5) has effect as if, for paragraphs (a) and (b), there were substituted “complying with a recommendation of the Financial Policy Committee of the Bank of England under section 9O of the Bank of England Act 1998 (making of recommendations within the Bank). after sub-paragraph (3) insert— Section 138J(8A) has effect as if, in paragraph (a), for sub-paragraphs (i) and (ii) there were substituted “be prejudicial to advancing the Financial Stability Objective, or

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