(1) The Capital Requirements Regulations 2013 [S.I. 2013/3115, amended by S.I. 2018/1401.] are amended as follows.

(2) In regulation 2, in the definition of "capital requirements directive", at the end insert "as that directive is amended by Directive (EU) 2019/878 of the European Parliament and of the Council of 20 May 2019 amending Directive 2013/36/EU as regards exempted entities, financial holding companies, mixed financial holding companies, remuneration, supervisory measures and powers and capital conservation measures [OJ L150, 7.6.2019, p. 253.]";

(3) In regulation 4, for paragraph (a), substitute -

"(a) the PRA is responsible for -

(i) all the functions of a competent authority in respect of PRA-authorised persons and financial holding companies and mixed financial holding companies approved or designated by the PRA under -

(aa) Part 12B of FSMA, or

(bb) regulation 5 of the Financial Holding Companies (Approval etc.) and Capital Requirements (Capital Buffers and Macro-prudential Measures) (Amendment) (EU Exit) Regulations 2020;

(ii) the application of Article 124(2) and Article 164(6) of the capital requirements regulation;".