Section 319

A relevant regulator (“R”) may assist an overseas regulator (“O”) in accordance with the table in subsection (2) where— O makes a request to R (see section 320) for R to assist O’s carrying out of functions which correspond or are similar to functions of R under a relevant enactment, R considers that it would be appropriate to assist O (see section 321), and where the request is made otherwise than under or in accordance with a qualifying cooperation arrangement, the Secretary of State authorises R to assist O (see section 322). The table in this subsection is— For the purposes of the exercise by R of the powers under Parts 3 and 4 of Schedule 5 to CRA 2015 by virtue of this Chapter— paragraphs 13, 19 and 20 of that Schedule are to be ignored; where a power is exercisable only by an enforcer of a particular description, the power is exercisable by R only if R is an enforcer of that description; references in Part 4 of that Schedule to the enforcer’s legislation, in relation to a domestic enforcer, are to be read in relation to R as references to the law of, or other requirement imposed in, the country or territory of O mentioned in the entry for that Schedule in the table in subsection (2). Any reference in an enactment (other than in this Chapter) to the functions of a relevant regulator under a relevant enactment includes a reference to those functions as exercised by virtue of this Chapter. In this Chapter— “cooperation arrangement” means an arrangement or agreement relating in whole or in part to cooperation in matters relating to the subject matter of a relevant enactment; “overseas regulator” or “O” means a person or body in a country or territory outside the United Kingdom which appears to R to exercise functions of a public nature corresponding or similar to functions of R; “qualifying cooperation arrangement” means any cooperation arrangement— to which the United Kingdom and the country or territory of O are parties, and which provides for the provision of mutual assistance as between the United Kingdom and that country or territory, or as between R and persons or bodies in that country or territory, in relation to matters relating to— functions of R under a relevant enactment, or functions of O which correspond or are similar to those functions; “relevant enactment” means an enactment listed in the first column of the table in subsection (2); “relevant regulator” or “R” means a regulator listed in the second column of the table in subsection (2).

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Source: legislation.gov.uk · retrieved 2026-07-30