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Version status: Omitted | Document consolidation status: Updated to reflect all known changes
Version date: 1 March 2017 - onwards
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354C. PRA's duty to provide information to Bank of England

Omitted from 1 March 2017

(1) The PRA must disclose to the Bank of England ("the Bank") any information in its possession that it thinks will or may assist the Bank in achieving its financial stability objective.

(2) The duty in subsection (1) applies whether or not the Bank has requested that the information be disclosed to it.

(3) Subsection (1) does not require or authorise the disclosure of information whose disclosure -

(a) is prohibited by or under section 348 or any other enactment;

(b) is incompatible with any EU obligation;

(c) would constitute or be punishable as a contempt of court.

(4) This section is without prejudice to any other power to disclose information.

(5) The Bank's financial stability objective is the objective set out in section 2A(1) of the Bank of England Act 1998.

(6) In this section "enactment" includes -

(a) an Act of the Scottish Parliament,

(b) Northern Ireland legislation, and

(c) a Measure or Act of the National Assembly for Wales. 

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