Arrangements between FCA and PRA

24A

1

The regulators may make arrangements about—

a

how they will consult each other when required to do so by paragraph 19(7C) or (7D) or 20(3AA) or (3AB) or by regulations under paragraph 22;

b

how each of them will act in response to any advice or representations received from the other.

2

The arrangements may require one regulator to obtain the consent of the other in specified circumstances before—

a

giving a consent notice under paragraph 19 or 20, or

b

exercising specified functions under regulations under paragraph 22.

3

The arrangements must be in writing, and must specify—

a

the EEA rights to which they relate, and

b

the date on which they come into force.

4

Where arrangements are in force under this paragraph, the regulators must exercise functions in accordance with the arrangements.

5

The regulators must publish any arrangements under this paragraph in such manner as they think fit.