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Version status: Omitted | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2020 - onwards
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196. The power of intervention

Omitted from 31 December 2020

(1) If a regulator is entitled to exercise its power of intervention in respect of an incoming firm under this Part, it may impose any requirement in relation to the firm which that regulator could impose if -

(a) the firm's permission was a Part 4A permission; and

(b) the regulator was entitled to exercise its power under section 55L(3) or 55M(3).

(2) The FCA must consult the PRA before exercising its powers by virtue of this section in relation to -

(a) a PRA-authorised person, or

(b) a member of a group which includes a PRA-authorised person.

(3) The PRA must consult the FCA before exercising its powers by virtue of this section.

Comparing proposed amendment...