In regulation 35 -

(a) in paragraph (2) -

(i) before sub-paragraph (a), insert -

"(za) for the definition of "appropriate regulator", substitute -

""appropriate regulator" means -

(a) the PRA, in relation to PRA-authorised persons and financial holding companies and mixed financial holding companies approved or designated by the PRA under -

(i) Part 12B of FSMA, or

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

(b) the FCA in relation to any other person;"";

(ii) in sub-paragraph (a), in the new definition of "capital conservation buffer", after paragraph (a), insert -

"(aa) in relation to a parent financial holding company and a parent mixed financial holding company, a capital conservation buffer the holding company is required to calculate under rules made by the PRA under section 192V of FSMA;";