Section 6(10)

Where the statement relates to the making of rules that include provision of a kind mentioned in subsection (4)(b) or (5)(a) and (b), the statement must— if made by the FCA, include an explanation of the FCA’s reasons for believing that making the proposed rules is compatible with its duties under section 1B(1), (4A) and (5)(a) of FSMA 2000; if made by the PRA, include an explanation of the PRA’s reasons for believing that making the proposed rules is compatible with its duties under— section 2B(1) or, as the case requires, section 2C(1) or 2D(3) of FSMA 2000, and section 2H of FSMA 2000; if made by the Bank of England, include an explanation of the Bank’s reasons for believing that making the proposed rules is compatible with— the Bank’s financial stability objective under section 2A of the Bank of England Act 1998, and the Bank’s duties under section 30D(1)(a) of that Act; if made by the Payment Systems Regulator, include an explanation of the Regulator’s reasons for believing that making the proposed rules is compatible with its duties under section 49 of the Financial Services (Banking Reform) Act 2013.

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